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Legal Ease
Legal Ease, Lawyer
Category: Canada Tax
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Experience:  Lawyer
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In May 2015 I (self-) published a book with Friesen Press in

Customer Question

In May 2015 I (self-) published a book with Friesen Press in Victoria BC. This has involved two classes of costs: the payments to Friesen's for publication, and the subsequent costs in promoting the book (ads in print media, mailing expenses, etc.). My question is, can either of these classes be set against Canadian taxable income in 2015?
Thanks
F. W. Orde Morton - 190 St George St, #501, Toronto -***@******.***
Submitted: 1 year ago.
Category: Canada Tax
Expert:  Legal Ease replied 1 year ago.

Yes.

You are going to report the profit as business income and so all expenses paid to get the income are deductible from income as legitimate business expenses.