The home stretch for 2020 is here, only two weeks until Christmas! This is usually a busy time of the year, wrapping up work before the holidays, scrambling to buy last-minute gifts and mailing out cards.
It’s also the fiscal year-end for many people with small businesses, as well as when a lot of us tabulate our annual expenses to see where we’re at with our personal finances. The pandemic has a lot of people working from home this year, which brings us to our first piece of reading for the week.
Home Office Expenses for Employees | Another Loonie
As noted, many people have found themselves working from home this year or having to set up a home office. This has brought about some confusion as to whether employees are allowed to deduct various expenses on their tax returns or not. Another Loonie has a great write up going over many of the details as to what options you might have in recouping some home office expenses if you are an employee working from home.
Personal Finance is Personal – Ignoring Blanket Advice | Business Insider
Another good reminder that personal finance is personal – and what’s good for some isn’t necessarily good for all. Everyone has a different financial situation and a different mindset or risk tolerance when it comes to saving and investing. You can’t always use the best-case math scenario or logical order to determine how to handle your own money and investing strategy. It’s just as important to consider your comfort level along with your mental health when making financial decisions and planning for your long-term goals.
Save Money and Stay Safe by Winterizing Your Home | Toronto Star
If you’re living anywhere north of the 40th (unless out west maybe) you’ve likely been getting a taste of winter already. With the carbon tax sucking extra money out of my home heating budget, one project has been attempting to eliminate as many drafts as possible throughout our home. It will be interesting to see what sort of natural gas usage changes we see afterwards and monetary savings (if any). Here’s a brief article with some ideas on how to winterize your home. You can also check out my own piece on Insulating Drafty Windows to Save Money on Heating Bills.
That’s all for this weekend, don’t forget to check out the latest articles on the homepage including my examination of the question, “Are Robot Vacuums Worth the Money?”
Have a great weekend!
Thank you for the share! I’m glad you enjoyed my article :). I’ve been getting a lot of great feedback on it. Seems that many people are in the same boat as me and are working from home.
Definitely helpful advice for those looking to get a little cash back. I was familiar with some of this from having self-employment deductions, but it’s interesting to see what’s not allowed for employees as well.