Expenses for Performers Part 1: Quiz

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Expenses for Performers Part 1 Quiz
You'll need to correctly answer at least 4 of the 7 questions below (at least 50%) to progress to the next unit.
Question #1: Credit card statements can be used as receipts to document expenses.
Question #2: It is against the law to minimize the amount of taxes you pay.
Question #3: If you use your home for both personal use and business use and want to deduct your home costs as a business expense, you must prove what proportion of those costs are related to your business.
Question #4: You paid $60 to fill up the gas tank in your car. You used one-third of the gas to visit your grandparents, and the rest you used to drive to and from set for a gig you booked as a performer. How much can you claim as a deductible expense for gas?
Question #5: After how many consecutive years of declaring a loss in your self-employed business will your chances of receiving an audit from the CRA increase?
Question #6: Lisa earns money both as a performer and as an elementary school teacher. If she declares a loss on her self-employed business as a performer, she cannot use that loss against her earnings as a teacher.
Question #7: What must a receipt for a reasonable expense have in order for you to claim it against your performer earnings?
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