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You have to keep a log of all your kms. CRA will request them if audited. Must keep maintenance and repairs receipts as well car wash, license sticker, and parking receipts.

You can't claim renovations after you've the business is in operation. Only can claim maintenance or repairs.

My husband is a tax consultant and prepare tax returns with daycare business.

For home based business you have to allocate on income tax return either room or square footage use ie: 1 out of #rooms in house or 300 sq ft or 2200 sq ft home and eligible home expense will be...

if your daycare/babysitting is less than $6900 per year and no expenses to offset the income you can claim it as OTHER INCOME. if you are going to earn more and have expenses you will need to file...

depending on your income best to put aside at least 20-30% to pay for taxes at the end of the year

my husband is a tax consultant at a firm in oshawa and have quiet a few clients who have daycare businesses and enter all grocery receipts, then will ask/confirm with client what is the percentage of...