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Canada – Can I Deduct Home Office Expenses During COVID-19?

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As a result of the COVID-19 pandemic, many employers have been forced to lock down their offices, plants, and other business locations. To the extent possible, many employees are now working remotely from their homes. As outlined below, this may provide for a tax reduction opportunity for many Canadian employees in 2020.

Qualifying Conditions
An employee earning salary or commission income may deduct home office expenses that relate to the use of a workspace in the employee’s home if the employee is required to pay for these expenses under his or her contract of employment. The home office expenses must be used directly in the employee’s work, and no costs can be deducted that were or will be reimbursed by the employer. Furthermore, one of the following two other conditions must be met:

  1. The workspace is where the employee ‘principally’ (more than 50 percent of the time) performs the duties of his or her employment, or
  2. The workspace is used ‘exclusively’ for the purpose of earning employment income, and it is used on a regular and continuous basis to meet with customers or clients while performing employment duties.

Note that with respect to the first condition, ‘principally’ is generally determined over the course of the full period of employment in the calendar year rather than just the part of the year the employee is required to work from home. In the current COVID-19 pandemic, if employees are only required to work from home for less than 50 percent of their time with the employer during the calendar year, they may not be able to deduct their home office expenses.

Note that under the second condition, unlike the first condition, which permits occasional use of the workspace for other purposes by the employee or family members, the workspace must be used exclusively for work. The Canada Revenue Agency (“CRA”) takes a view that ‘meeting with customers or clients’ generally means a physical, face-to-face encounter of two or more people. However, the CRA recognizes that some informal Tax Court of Canada (“Tax Court”) decisions have held that this phrase may include meetings held by phone, although the CRA stresses that informal Tax Court decisions are not binding. Therefore, in the current COVID-19 pandemic, virtual meetings through Zoom or other software applications may not be counted for purposes of the second condition. However, this is subject to the CRA’s interpretation.

Eligible Home Office Expenses
If the above conditions are met, both salaried and commission employees may deduct electricity, heat, water, maintenance, home supplies, minor repairs, and rent as home office expenses. Employees earning commission income can also deduct insurance and property taxes. Mortgage interest and capital cost allowance are never deductible as home office expenses.

In calculating the percentage of home expenses that are deductible, an employee should use a reasonable basis such as the square footage of the workspace area as a proportion of their total home. However, it may not always be appropriate to use a percentage to allocate a portion of the costs to an employee’s home office expense. As an example, if the expenses paid (such as cleaning materials) were to maintain a part of the house that was not used as a workspace, none of those expenses should be reported as a home office expense. On the other hand, if maintenance costs were incurred only for the workspace, then all or most of the expenses should be included as home office expenses.

The amount of the home office expenses that an individual can deduct in a tax year is limited to the amount of employment income the individual received in the year. If the expenses exceed the employment income earned in the year, the employee can carry forward those expenses and deduct them in the following year against employment income received from the same employer.

Supporting Documentation
Employers will need to complete and sign Form T2200 – Declaration of Conditions of Employment stating that the employee was required to maintain a workspace at their home. This form is not filed with the employee’s personal income tax return, but rather must be kept on file should the CRA request it. By signing the Form T2200, the employer certifies that the employee meets the conditions prescribed in the Income Tax Act. However, note that Form T2200 is not conclusive or determinative, and if the employee is audited, the CRA will look at all available evidence to conclude whether the requirements of a home office have in fact been met.

Employees have the responsibility to track each of their home office expenses. They must be able to produce corresponding receipts to support each expense should they be requested by the CRA.

How to Report Employee Home Office Expenses
Assuming you meet the qualifications to report your home office expenses, you have a signed Form T2200 on file from your employer, and you have produced a summary of your home office expenses incurred during the calendar year (with corresponding receipts), you should report your home office expenses on Form T777 – Statement of Employment Expenses, which will be filed along with your Canadian personal income tax return.

If you would like to discuss your specific situation with us, please contact your Cardinal Point financial advisor at your earliest convenience. We wish you all a happy and healthy quarantine!

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Why Everyone Loves CBD Candies

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Who in their right mind doesn’t like candy? I mean, no one, right? it’s the thing we have grown to love because it is everyone and consuming candy is so commonplace and normal that some of us made money in high school selling candy to course mates when we were young. But that’s besides the point. Everyone seems to be attracted so much to CBD edibles, especially the candies and we will explain why that is the case in this article.

Candies are the perfect trojan horse!

Although the trend is changing nowadays, consuming cannabinoids was a thig to be frowned upon in the past. Actually, there are countries that still haven’t legalized the use of CDB. Even for some countries that have done so, public use of CBD is strictly prohibited. But there are some regions where the laws are a bit laxed. But you get the point. If you enrich your candies with CDB then no one will know when you buy CBD edibles candy snacks or when you use them. you can comfortably munch your CBD candy nosily and in public with raising any suspicions, suffering any stigma, and having people give you a bad attitude in that sense, CBD candies have become a game changer for many CBD users.

There are many candy flavors to choose from

Currently, there are over 50 different flavors of candy sold in the market. This variety is good because it allows consumers to only pick what they are comfortable with or what gives them the right feeling that they want. The fact that CBD candies are flavored also reduces the reservations that many people have on the earthy, and often unpleasant taste of pure CBD. Therefore, those users who want CBD but cannot take it because of the cost can getting back into the consumption game by eating flavored candies.

Candies are easy to use

Candies are small in size. That means they can be ordered in bulk, they can be transported easily, and they can also be stored easily. They also have a relatively longer shelf life and thus can be used for long before the stock goes bad.

Conclusion

These are some of the reasons why users prefer candies to other products when they go to buy CBD Liniment for sale. The benefits of CBD candy are valid and should encourage everyone to try them out.

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The Health Care Industry’s Perseverance During the COVID-19 Outbreak: A Report by Benjamin Gordon Palm Beach

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The present global epidemic disrupts business environments, supply chain systems, sectors, and consumer behavior. The pandemic’s influence on varied domains, organizations, and geographies has a wide range of severity and magnitude. As the world recovers from the epidemic, a “new normal” will emerge, requiring innovative ways to adapt while limiting dangers.

Disruptions are on the verge of occurring, as stated by Benjamin Gordon Palm Beach

COVID-19 will affect economic growth, affecting all industrial groups, particularly healthcare. This is because certain profound undercurrents in this outbreak might wipe out considerable advances and plunge global health systems into a long-term crisis. It has had a significant impact on not only the pharmaceutical and medical technology industries but also on other routine operations and procedures in the healthcare industry.

Why is pandemic a negative influence on the health care economy?

There are two primary reasons why this outbreak may have a negative influence on the healthcare economy in different countries:

  • The pandemic has altered the landscape of the healthcare supply chain

COVID-19 has transformed the healthcare supply chain. Manufacturers and medical equipment providers are experiencing an immediate increase in demand for supplies needed to battle the pandemic, as demand for orthopedics, general surgical instruments, and other products has fallen. They are under pressure to develop flexible capacity to meet the urgent demand for products.

  • Remote patient care is preferred, and the necessary technology solutions are available

Patients who require continuous therapy or consultations should avoid traveling to the hospital. This could lead to an increase in demand for home-based solutions, putting pressure on MedTech companies to develop technology solutions that address the market’s shifting needs. Other industries, such as drug testing and scientific test instruments, may also require new technology to meet post-pandemic demands.

As a result, not just one but all enterprise sectors are on the cusp of tremendous disruption, poised to reshape the whole landscape with greater impact than COVID-19.

What changes will the health care sector bring in itself to cope-up with the challenges of the pandemic?

Tenacity lends additional impetus to corporate success in these epidemic times. The medical equipment industry is a tough nut to crack. The following trends are reshaping the medical device sector as we come to terms with the pandemic:

  • More emphasis will be placed on developing reliable local supply chains and exploring solutions to multi-sourcing materials and goods from various locations.
  • Rapid testing techniques and at-home testing will become more common, potentially paving the way for fresh ways to bring point-of-care diagnostics closer to the customer.
  • Companies will consider initiatives to lower completed goods inventories, enhance logistics, and collaborate with suppliers to share risks and burdens.

Conclusion

Healthcare is defined by perseverance, and it will continue to serve us well in these hard times says Benjamin Gordon Palm Beach. The medical device industry is facing the ultimate test, but the only way to improve enterprises for the future is to commit to the situation.

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What Is Cosmetic Dentistry?

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cosmetic dentistry in Eatontown, NJ

Cosmetic dentistry is any dental procedure that improves the quality and appearance of the teeth, gums, or bites. This procedure will often improve your teeth by whitening them, adjusting the position and shape, reducing the size, and aligning them to give your face an appreciable look. When you undergo procedures that will affect your teeth, you should ensure that a qualified dentist is in charge of it. Doing so will assure you of the procedure’s success and that there will be no problem after the procedure. Check out dentists that practice cosmetic dentistry in Eatontown, NJ.

There are two types of cosmetic dentistry, namely, prosthodontics and orthodontics. And they generally involve the addition of a dental material to your gum, the removal of a part of your dental structure, whitening of your teeth, straightening of your teeth, proper alignment, among other things. Let’s check out some of them.

  1. Whitening

This dental procedure is the most common dental procedure among patients. It is safe and boosts a person’s smile and beauty after it. There are different methods of whitening the teeth, including laser whitening. And all of them are very effective. Just discuss with your dentist to arrange the best procedure for you. Proper dental care will boost your confidence. Check out the best dentists in Eatontown, NJ, and pick out a dental center to whiten your teeth.

  • Reshaping

This procedure removes some parts of the enamel, thereby improving the tooth’s appearance. With this method, you can change your tooth’s length and position and correct a chip. However, you cannot replace the enamel again. This method is a better way to reshape your teeth when compared to braces. And that is because it corrects your teeth faster than braces.

  • Bridging

This procedure is used to replace a missing tooth. It can also replace an entire set of teeth. Your dentist will make a bridge of abutments, and they will cement it onto your gums to replace your missing teeth. The procedure can be permanent, fixed, or you can remove them and fix them again. Discuss your options with your dentist.

  • Bonding

This procedure involves the addition of an enamel-like material to your teeth. This material will have the same color, and when your dentist applies it to your dental region, they will arrange and position it to follow the natural alignment of your teeth, then harden and polish it. You cannot tell the difference between your natural enamel and this new material. They are used to replace and repair cracked or decayed teeth.

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Share How to Quit Smoking

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MedicalNewsToday

Smoking is detrimental to health and you may wonder why you can’t stop something that doesn’t improve your health positively. Well, if you can’t stop smoking it’s mostly because you have become addicted to it and just like any other form of addiction, stopping it is no easy task. Not to worry, I’ll be providing you with practical tips that’ll help you learn how to quit smoking.

What is smoking?

Smoking is an act or habit of inhaling and exhaling smoke commonly from tobacco by sucking the end of a lit pipe, cigarette, or cigar etc. 

What is addiction?

According to MedicalNewsToday, Addiction is an inability to stop using a substance or engaging in a behavior even though it is causing psychological and physical harm.

Smoking and Addiction 

Smoking is not safe for your health, cigarette companies even warn that smokers are liable to die young. So, at what point does smoking become very dangerous? Smoking gets to this point when you smoke not because you want to but because you can’t help it and at that point, it becomes an addiction. 

How to Quit Smoking 

I’ll be introducing to you a few practical steps or activities that will help you stop smoking. This is a crucial point in this article, hence, continue reading to learn how to quit smoking.

  • Hate the Act

Amongst all of the tips, I’ll be introducing to you today, this is one effective method. Before you’ll be able to quit smoking for good you will have to learn to hate the act. This is the first step in stopping the act for good. Once you start hating the act you’ll find yourself gradually declining from the act as each day goes by. 

  • Motivate Yourself 

Most times hating the act is just not enough and in such scenarios, what better way is there to motivate rather than giving yourself a reason to stop the act. The reason could be that your family members are not okay with the act, or you want to prevent them from inhaling second-hand smoke or you just want to turn a new leaf in life. Whatever your reason is, use it to fuel the hate you have developed in indulging in the act.

  • Prepare Yourself 

Now you hate smoking and you have a reason for hating it, the next thing would be to prepare yourself. You might ask, prepare myself how? Well, I’ll tell you, since smoking has turned to addiction, your brain is now hooked on narcotics and when you stay long enough without it you’ll begin to pass experience what is known as withdrawal where you start craving it again and sometimes the hate you developed for the act may not be enough to quench the thirst.

So what should you do? Start preparing yourself for that time, you can start by asking your doctor methods that’ll help, participate or register for a quit-smoking class, go for counselling, meditation, etc.

Conclusion 

When smoking becomes an addiction trying to stop smoking is not an easy task but if you carry out the tips provided in this article diligently, you’ll stop smoking in no time. Some may try all the tips above and it may seem like it’s not enough, give it time and if you still require further help then you can try Nicotine Replacement Therapy. This therapy helps in curbing the craving for smoking.

Try and much as possible to avoid triggers. A trigger is anything that’ll make you want to consider smoking again. Hence, until you are convinced that you no longer feel the urge or craving to smoke and you have stopped the act, avoid all possible triggers.

Finally, there have been cases where people stopped smoking by transitioning from smoking to vaping. Are you thinking of making this move? Then you can get the best ejuices at Cloudedvisions.

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How To Properly Brush Your Teeth

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When you brush your teeth, you don’t just keep your mouth clean, but the entire body as well. The American Dentist Association is recommending the brushing of your teeth twice every day. Each brushing should last for at least 2 minutes. With proper brushing, you can eliminate plaque and harmful bacteria which could collect between your tongue and teeth, leading to gum diseases. Proper brushing also ensures that your teeth don’t suffer decay, promote a healthier lifestyle and boost your immune system.

What you require to brush your teeth

You need fluoride toothpaste, a toothbrush, floss, and an optional mouthwash. Remember that your toothbrush should be in great condition, and you must replace it once in three or four months. Overuse of a toothbrush could make the bristles frayed; therefore lose their ability to brush properly. You can order high-quality toothbrushes, toothpaste, and other oral health supplies from reputable online suppliers. Fluoride toothpaste that has the approval of a reputable dental association is the best choice for the majority of adults.  With the right quality of fluoride, you complete protection against decay.

Brushing normal teeth

Put some water inside your mouth, and then apply a small amount of fluoride into the toothbrush. Move the brush back and forth, and keep doing this for at least two minutes. Don’t forget to brush your tongue lightly, as this helps to get rid of microparticles and 

Recommendations for children

Children who are three years or younger, and whose first teeth have just been seen above the gum should smear a fluoride toothpaste, which is about the size of a  rice grain. Children between three and six years can use pea-sized fluoride toothpaste. There are a few specialized fluoride-free kinds of toothpaste for kids. This is a fantastic choice for those who are worried that their loved ones can swallow the toothpaste.

Brushing teeth that have braces

 There are a few extra steps that you should take when brushing teeth with braces. 

  • Start by removing any removable part of the braces.
  • Apply a small amount of toothpaste into your toothbrush.
  • Clean around your braces, under the pins, and the wires.
  • Brush the wires, and ensure that they are free of food particles and bacteria.
  • Brush your teeth the normal way, just as you do every day. Brush for about two minutes continuously.
  • Brush your tongue gently.
  • Spit out any saliva and the remaining toothpaste.

Brushing teeth with spacers

Spacers are instruments that dentists install, which creates spaces for braces.  If your teeth have spacers installed, just do it as you would with normal teeth. Move your brush in a forth and back movement, and not up and down. This helps to keep the spacers in their place.

Conclusion

The process is brushing your teeth is straightforward. But if you have braces and other cosmetic dentistry installations, you should exercise caution and ensure that you don’t damage the braces. Pick the recommended brush and toothpaste from the best suppliers of medical and related products.

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