A lot of the email I get this time of year asks about business expenses. "Can I deduct this on my income tax?" "What about this? Is it a legitimate business expense?"
The great thing is that you can deduct almost anything as a business expense - as long as it meets the requirements of the definition. Read the Canada Revenue Agency's definition of business expenses and the three rules for claiming business expenses.
And of course, there are particular rules governing how much of particular business expenses you can claim on your income tax. Find out what they are with The Business Expenses Index.
More: Are you running a home-based business? Then you'll also want to read 6 Home Based Business Tax Deductions You Don't Want to Miss. Follow Me on Twitter
The great thing is that you can deduct almost anything as a business expense - as long as it meets the requirements of the definition. Read the Canada Revenue Agency's definition of business expenses and the three rules for claiming business expenses.
And of course, there are particular rules governing how much of particular business expenses you can claim on your income tax. Find out what they are with The Business Expenses Index.
More: Are you running a home-based business? Then you'll also want to read 6 Home Based Business Tax Deductions You Don't Want to Miss. Follow Me on Twitter
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