Ratcliffe Wealth & Risk Management

We can basically say we are in tax season here in Canada. With the deadline for RRSP contribution on March 1, we are certainly considering whether a contribution is the best decision, and we are starting to consider the income and expenses that may or may not be claimed on income tax returns. This post is directed to the self-employed, whether a sole proprietor, in a partnership, or operating through a corporation.

Medical costs may be deductible as business expenses if not covered by your medical plan, within limits set by the Canada Revenue Agency. If you are not familiar with how Private Health Services Plans work to allow this, I would like to refer you to some information from a company I represent, CustomCare. There are several links on one of my pages, and I would be pleased to discuss in further detail.

Private Health Services Plan

If it can potentially save you tax dollars, it is at least worthy of consideration!

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This is the blog of Antony (Tony) Ratcliffe of Ratcliffe Wealth & Risk Management, operating in Edmonton, Alberta, Canada. Tony is an independent Life and Accident & Sickness Insurance Agent and Broker. Blog entries are an expression of the author’s personal opinions, and the insurance companies represented will not be held liable in any way for the opinions expressed herein.