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1. • • You can deduct accounting and legal fees you incur to get advice and help with keeping your records. You can also deduct fees you incur for preparing and filing your income tax and GST/HST returns.
     www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/report-business-income-expenses/completing-form-t2125/line-8860-legal-accounting-other-professional-fees.html

     Line 8860 – Professional fees (includes legal and accounting ...

2. www.canada.ca › accounting-legal-feesAccounting and legal fees – Salaried employee expenses - Canada

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   You can deduct any legal fees you paid in the year to collect or establish a right to collect salary or wages. You can also deduct legal fees you paid in the year to collect or establish a right to collect other amounts that must be reported in employment income even if they are not directly paid by your employer.

3. www.canada.ca › fees-other-amounts-servicesPayments of fees for services - Calculate payroll deductions ...

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   Generally, if you pay a fee to a person to provide a service outside of an employment relationship or tenure of office, you need to fill out a T4A slip. This includes payments of fees for service between businesses (including sole proprietors and corporations).

4. www.canada.ca › en › revenue-agencyLine 8860 – Professional fees (includes legal and accounting ...

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   Deduct the fees you incurred for external professional advice or services, including consulting fees. You can deduct accounting and legal fees you incur to get advice and help with keeping your records. You can also deduct fees you incur for preparing and filing your income tax and GST/HST returns.

5. www.nbc.ca › personal › adviceWhat carrying charges and interest fees can be claimed?

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   Jan 3, 2023 · The short answer is yes. Some expenses can be deducted, but you must also meet certain conditions. Here’s a rundown of which expenses qualify and which conditions must be met for them to be deductible. In this article : How do you know if carrying charges and interest fees are tax deductible?

6. turbotax.intuit.ca › tips › are-all-legal-fees-fullyAre All Legal Fees Fully Tax Deductible? | 2023 TurboTax ...

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   • Legal Fees for Tax Advice or Assistance. You can deduct the legal fees you incurred for advice or assistance to respond to the Canada Revenue Agency when it reviews your income, deductions or credits.
   • Legal Fees Concerning a Retiring Allowance or Pension Benefit. Your legal fees from collecting or confirming a right to a retiring allowance or pension benefit are deductible up to a certain yearly limit.
   • Legal Fees Related to Child Support. The legal fees you pay while trying to make child support payments non-taxable are deductible. In addition, your legal fees from attempting to collect support payments owed by a current spouse, former spouse, common-law partner or the natural parent of the child are also deductible.
   • Legal Fees to Collect Salary or Wages. You can deduct the legal fees you paid to collect or establish your right to salary, wages or other amounts related to employment income directly paid by your employer.

7. www.mktaxaccounting.com › additions › businessBusiness Expenses for Tax Deduction Canada

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   You can deduct accounting or legal fees you paid to have an objection or appeal prepared against an assessment for income tax, Canada Pension Plan or Quebec Pension Plan contributions, or Employment Insurance premiums.

8. People also ask

   What fees can I deduct on my tax return?

   • Deduct the fees you incurred for external professional advice or services, including consulting fees. You can deduct accounting and legal fees you incur to get advice and help with keeping your records. You can also deduct fees you incur for preparing and filing your income tax and GST/HST returns.

   Professional fees (includes legal and accounting fees) - Canada

   www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/report-business-income-expenses/completing-form-t2125/line-8860-legal-accounting-other-professional-fees.html

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   Can I deduct legal fees?

   • You can deduct the legal fees you paid to collect or establish your right to salary, wages or other amounts related to employment income directly paid by your employer. It is not a condition that the amount believed to be owed is actually collected just that it is a legitimate attempt to collect what you believe that you are owed.

   Are All Legal Fees Fully Tax Deductible? - TurboTax® Canada

   turbotax.intuit.ca/tips/are-all-legal-fees-fully-tax-deductible-6542

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   Are legal fees a deductible business expense?

   • The claim for these legal fees must be reduced by any amount you are awarded, along with any reimbursement you receive for the legal expenses you incurred. If you are self-employed and you incur legal fees in the course of running your business, then the total amount of these legal fees becomes a deductible business expense.

   Are All Legal Fees Fully Tax Deductible? - TurboTax® Canada

   turbotax.intuit.ca/tips/are-all-legal-fees-fully-tax-deductible-6542

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   Can I deduct accounting fees?

   • In some cases, you may also be able to deduct certain accounting fees. For more information, see Archived Interpretation Bulletin IT-99R5-CONSOLID, Legal and Accounting Fees. A completed Form T2200, Declaration of Conditions of Employment, is not required when claiming this expense.

   Accounting and legal fees – Salaried employee expenses

   www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/salaried-employees/accounting-legal-fees.html

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   Can I deduct legal fees if I'm not paid by my employer?

   • You can also deduct legal fees you paid in the year to collect or establish a right to collect other amounts that must be reported in employment income even if they are not directly paid by your employer. However, you must reduce your claim by any amount awarded to you for those fees or any reimbursement you received for your legal expenses.

   Accounting and legal fees – Salaried employee expenses

   www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/salaried-employees/accounting-legal-fees.html

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   Can I deduct legal fees if I received a reimbursement?

   • If you received a reimbursement in the tax year, for the types of fees that you deducted in a previous year, report the amount you received on line 13000, Other income, 2 of your income tax return. You cannot deduct legal and other fees you incur to buy a capital property, such as a boat or fishing material.

   Professional fees (includes legal and accounting fees) - Canada

   www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/report-business-income-expenses/completing-form-t2125/line-8860-legal-accounting-other-professional-fees.html

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9. www.bdc.ca › tax-deductible-expensesA simple guide to tax deductible business expenses - BDC

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   You can deduct management and administration fees, including bank charges incurred to operate your business. Bank charges include those for processing payments. Interest and bank charges