Business Start-Up for Beginners by Learn2succeed.com Incorporated

Author:Learn2succeed.com Incorporated [Incorporated, Learn2succeed.com]
Language: eng
Format: epub
Tags: Entrepreneurship
Publisher: Productive Publications
Published: 2012-08-01T00:00:00+00:00

If you use your car or truck for business (as well as pleasure), you can claim those expenses which relate to running your business. This includes insurance, repairs, lease payments. Again, your “friends” at the tax office have become very finicky, so my suggestion is to keep accurate figures of all your expenses and the number of miles or kilometres you logged up on business and where you went. Keep these for when you complete your tax forms or for your accountant.

You can also write-off a portion of your entertainment expenses, provided that these are directly related to furthering your business. The portion that is allowed will vary from jurisdiction to jurisdiction.

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