Business Expenses
Keeping receipts for paper, toner, and printer ink falls under this deductible expense category for your business.
What are office supply costs?
Rather than deducting the full cost in one year, a $1,200 business laptop is written off gradually using this method.
What is Capital Cost Allowance (CCA)?
If you buy new strings, a tuner, and a capo, you can deduct these purchases as this type of expense.
What are musical instruments and related supplies?
A $250 donation made in your business's name to a Capilano University scholarship qualifies as this type of deductible expense.
What is a tax deductible charitable contribution?
Whether purchased as a physical book, e-book, or audiobook, a title bought to develop your professional skills is deductible under this category.
What is a Business Library?
Your municipal business license fee, provincial name registration, third-party liability insurance premiums, and WorkSafe payments are all deductible under this broad category.
What are business licensing and regulatory expenses?
Without this document recording your dates, destinations, purposes, and kilometres driven, the CRA is likely to deny your vehicle expense deduction.
What is an automobile log?
Eating dinner at a fancy restaurant while attending a conference out-of-town counts can be deducted under this category.
What are meal receipts?
Annual fees paid to a professional association are deductible as this type of expense.
What are professional membership dues?
Hydro and internet expenses can be deducted under this category.
What is a home office?