Accounting and Taxes for salespeople

Whether your role is a sales manager for a larger public corporation, a real estate agent or other sales professional, as long as your position requires incurring out of pocket expenses for generating sales revenue for the business you are permitted to deduct these expenses as part of determining your income for tax purposes.  Please refer to CRA's website for commission employees.

The issue for many young sales professionals starting their career is that they are not aware of the tax deductions available and thus end up paying more tax then they have to. 
We recommend tracking expenses throughout the year and retaining receipts so we can assess what types of expenses can be claimed for tax purposes. This also helps file your tax return on time so you are not scrambling in April.

Contact an MP Group tax advisor to further discuss how we can help you keep track of your expenses for business purposes and reduce you taxes this year.

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