What Expenses Can I Write Off In My Business?

If you run a small business, chances are you've had the conversation about what you can "write off." With so many people abusing this term, it's hard to know what's true and what isn't.
Joe walks us through exactly what you need to know for your small business in this video.
Read the blog here.
www.avalonaccounting.ca/blog/...
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[@slamdoozle]

This channel is gold!! Great job!

[@eiengel8563]

you have a lot of ability to explain, You makes me feel that all is possible 🙏🙏🙏

[@SJWEQUIPMENT]

Thanks for making these videos. Very informative and well put together.

[@mosabouti2671]

Great tutorial. Really appreciate for sharing.

[@ebearlinaric4813]

brilliant...thank-you!

[@tombrown03]

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

[@Psych2go]

What about clothings for KZbinrs since you do have to present yourself? Can you expense those? :D

[@nileshghatge623]

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.

[@shadiaahmed4762]

Wow this page is so helpful!

[@courtgeek6357]

thanks

[@AndrewEydt]

Thanks - good content to keep in mind.

[@AvalonAccounting]

Thanks for watching, Andrew! Glad the content was helpful.

[@PerryOzaraga-fe3xs]

Hi, I have a start up landscaping business, can i write off a used truck, not only the fuel, maintenance, insurance and registration?

[@deepmoo82]

@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.

[@instaccountant]

you can deduct the portion of your internet expenses that are specifically used for business purposes.

[@judelazaro468]

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?

[@AvalonAccounting]

Hmm... not that I know of - you might need to talk to an electrician to see if you can measure it!

[@milkywayandbeyond]

Is buying employees lunch deductible?

[@ricardoaldana2137934]

Amazing😊

[@adriastoner1202]

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?

[@AvalonAccounting]

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

[@adriastoner1202]

But would I be able to write off the cost of the rental car itself?

[@milkywayandbeyond]

If you have a home office, does your trip from the home office to your retail location become tax deductible?

[@instaccountant]

Generally, isn't tax-deductible unless your home office is your primary place of business and you regularly travel to other work locations.

[@jesusmarin95]

Can I write of tools ? And lunch ?

[@lmhtv6039]

So grateful for your channel!