Even though the Canada Revenue Agency tries to minimize occurrences,small business owners often intermingle business and personal expenses in order to minimize taxable income.

Question

Quizplus · Accepted Answer

This is true. It is common for small business owners to mix personal and business expenses to reduce their taxable income, but it can lead to issues with the CRA. It's essential to keep clear records and separate personal and business expenses to avoid problems with the CRA.

Even Though the Canada Revenue Agency Tries to Minimize Occurrences,small