TAX QUESTIONS? YOU ASK LAH!

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Q: I am providing a part time accounting service and I have sub to a 3rd party and pay him wages. Can I deduct the expenses for the wages paid?

A: As providing part time accounting service is considered as a business activity, the wages paid to third party for sub-contract work is considered as business expenses incurred in the production of business income. As such, the wages would be tax deductible.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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