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What percentage of your home office is tax deductible?

What percentage of your home office is tax deductible?

The 2020 tax year is going to be a very interesting one. Find out what you can claim on your taxes and how to simplify the filing process for work-from-home expenses.

In 2020, the COVID-19 pandemic incited a mass exodus from the office and turned 40% of working Canadians into remote employees. If you were one of them, you probably converted your spare room into an office. Or, if you don’t have a spare room, your dining room table, kitchen table, couch or bedroom has now become the office. 

About the author

Renee Sylvestre-Williams

Renee Sylvestre-Williams is a finance and business reporter. In her more than 10 years of journalism, her work has been published in the Globe and Mail, Flare, Canadian Living, Canadian Business, the Toronto Star and Forbes. She also publishes a biweekly newsletter, The Budgette, where she provides financial education for single earners.

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What happens to the mortgage after a divorce?

Spouses can part ways, but they can’t simply say goodbye to their debts.

What happens to the mortgage after a divorce?

What happens to the mortgage after a divorce?

When a marriage ends, there’s no shortage of things that spouses suddenly need to split in two: their finances, their children’s time, their friends. One of the most difficult things to divide in a divorce is a mortgage.

When a marriage ends, there’s no shortage of things that spouses suddenly need to split in two: their finances, their children’s time, even their friends. One of the most difficult things to divide in a divorce — at least monetarily speaking — is a mortgage. A home is often a couple’s most valuable asset, and a mortgage is usually their largest liability. Spouses can part ways with each other, but they can’t simply say goodbye to their debts.

About the author

Luc Rinaldi

Luc Rinaldi is a journalist from Toronto. He’s currently senior editor of Pivot magazine, and his work has appeared in Maclean’s, The Walrus and Toronto Life. He once sang backup vocals for Rick Astley. Actually.

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Is refinancing your mortgage worth the interest hit right now?

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What you should know before refinancing your mortgage

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