Monday

Is it worth having a home business in Canada for Tax reasons?

First the backgroud:I got $2500 more back in taxes this year than I would have without my online travel business. www.babyducktravel.com and you could too, see how at www.ytbinterest.com

I undoubtedly think every Canadian should have some sort of a small business from home. They say that 98% of home businesses fail but I believe that statistic is skewed based on people that really had no intention of making money but had it for tax deductions. What do you think? An easy to start, low cost, online business and then you can deduct a portion of your mortgage interest, electricity, heat, internet access, gas, etc... Running this on the side from home as a second source of income has huge tax benefits. What could you do with an extra $2000 of tax refund each year?

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