@3:23 you say that it's not likely a construction contractor can deduct internet as a reasonable expense. This simply isn't the case, not only is the internet a means to provide the contractor with the solutions to finding any of the necessary hardware and materials they are searching for, but also vital for ongoing communication with clients, vendors, suppliers, designers, etc. I don't understand how this isn't a reasonable deduction.
Im completely new to the worls of business and I have a very specific question about expenses. I am a knit and crochet designer. I run a website where i promote/sell my patterns, do reviews and so forth... is buying yarn to (whether to use when designing the pattern or as an item i am reviewing on the site) a current expense? And then something like knitting needles would be a captial expense? Both are being used a tools for the business as the pattern woild be the product that is being sold.
Do you have a video about paying employees per diem when working outside the regular service area? I do concrete and excavation work and have been approached about working at a bunch of gas stations in random small towns
Hey Adria - typically trips to and from work aren't eligible business expenses. Check out these for a bit more info: - www.avalonaccounting.ca/blog/company-cars-canada - www.avalonaccounting.ca/blog/what-expenses-can-i-deduct-in-my-business
Due to Covid 19, I believe this will be a common question of all the employees, Will I be eligible to deduct home office expenses in 2020? It will be great if you could cover this question in any of your future videos. Thanks.
Hi...I have a home office, I am a Sole Proprietor. How do I calculate electricity expenses on charging an EV that I use for work? I am charging it off my house's electricity. Is there a way to do this?
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@3:23 you say that it's not likely a construction contractor can deduct internet as a reasonable expense. This simply isn't the case, not only is the internet a means to provide the contractor with the solutions to finding any of the necessary hardware and materials they are searching for, but also vital for ongoing communication with clients, vendors, suppliers, designers, etc. I don't understand how this isn't a reasonable deduction.
you can deduct the portion of your internet expenses that are specifically used for business purposes.
This channel is gold!! Great job!
Im completely new to the worls of business and I have a very specific question about expenses. I am a knit and crochet designer. I run a website where i promote/sell my patterns, do reviews and so forth... is buying yarn to (whether to use when designing the pattern or as an item i am reviewing on the site) a current expense? And then something like knitting needles would be a captial expense?
Both are being used a tools for the business as the pattern woild be the product that is being sold.
So grateful for your channel!
you have a lot of ability to explain, You makes me feel that all is possible 🙏🙏🙏
Do you have a video about paying employees per diem when working outside the regular service area? I do concrete and excavation work and have been approached about working at a bunch of gas stations in random small towns
When it comes to a car if you use a rental to get you to and from work can you write off the rental fees?
Hey Adria - typically trips to and from work aren't eligible business expenses.
Check out these for a bit more info:
- www.avalonaccounting.ca/blog/company-cars-canada
- www.avalonaccounting.ca/blog/what-expenses-can-i-deduct-in-my-business
But would I be able to write off the cost of the rental car itself?
brilliant...thank-you!
Due to Covid 19, I believe this will be a common question of all the employees, Will I be eligible to deduct home office expenses in 2020?
It will be great if you could cover this question in any of your future videos. Thanks.
Hi, I have a start up landscaping business, can i write off a used truck, not only the fuel, maintenance, insurance and registration?
Hi...I have a home office, I am a Sole Proprietor. How do I calculate electricity expenses on charging an EV that I use for work? I am charging it off my house's electricity. Is there a way to do this?
Hmm... not that I know of - you might need to talk to an electrician to see if you can measure it!
Wow this page is so helpful!
Is buying employees lunch deductible?
What about clothings for TH-camrs since you do have to present yourself? Can you expense those? :D
Great tutorial. Really appreciate for sharing.
Thanks for making these videos. Very informative and well put together.
If you have a home office, does your trip from the home office to your retail location become tax deductible?
Generally, isn't tax-deductible unless your home office is your primary place of business and you regularly travel to other work locations.
Thanks - good content to keep in mind.
Thanks for watching, Andrew! Glad the content was helpful.
Can I write of tools ? And lunch ?
thanks
Amazing😊
can you do one on how to/can you write off a vacation/trip as a business expense? what requirements do we need to meet?
And if you are in the fitness industry, you should be able to write off the gym membership , no?