Vehicle Expenses - What You Can Deduct In Your Small Business

[@Isaac2001Ike]

Yess finally !

[@Isaac2001Ike]

Do you offer accounting services for cleaning companies in Montreal ? Would be interested in getting an estimate.

[@AvalonAccounting]

We don’t currently offer services for businesses in Quebec because of the unique tax regulations there. If you have any questions or need advice, though, we’re happy to help!

[@benisrambo]

I use my personal vehicle for business use occasionally but don't keep any records or receipts. My accountant gives me a deduction at year end for this using a "reasonable" amount, and adds it to my shareholder loan. Is this normal practice?

[@dstathisfying]

I was under the impression that you can only use the number of km of business use and apply the CRA approved rate to determine the amount the business can deduct and pay to the employee (or shareholder). This amount is a deduction for the company but not income for the employee. Can the business deduct the business portion of operating expenses such as gas, insurance etc in addition to the per km rate?