What Expenses Can I Write Off In My Business?

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  • Опубліковано 13 січ 2025

КОМЕНТАРІ • 29

  • @deepmoo82
    @deepmoo82 Рік тому +2

    @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
      @instaccountant Рік тому

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

  • @hedgerow.homestead
    @hedgerow.homestead Місяць тому

    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.

  • @slamdoozle
    @slamdoozle Рік тому +2

    This channel is gold!! Great job!

  • @tombrown03
    @tombrown03 Рік тому

    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

  • @eiengel8563
    @eiengel8563 3 роки тому +2

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

  • @lmhtv6039
    @lmhtv6039 10 місяців тому

    So grateful for your channel!

  • @nileshghatge623
    @nileshghatge623 4 роки тому +1

    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.

  • @PerryOzaraga-fe3xs
    @PerryOzaraga-fe3xs 9 місяців тому

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

  • @ebearlinaric4813
    @ebearlinaric4813 Рік тому +1

    brilliant...thank-you!

  • @Psych2go
    @Psych2go 3 роки тому

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

  • @SJWEQUIPMENT
    @SJWEQUIPMENT 4 роки тому +1

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

  • @mosabouti2671
    @mosabouti2671 2 роки тому

    Great tutorial. Really appreciate for sharing.

  • @shadiaahmed4762
    @shadiaahmed4762 Рік тому +1

    Wow this page is so helpful!

  • @milkywayandbeyond
    @milkywayandbeyond Рік тому +1

    Is buying employees lunch deductible?

  • @adriastoner1202
    @adriastoner1202 2 роки тому +1

    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
      @AvalonAccounting  Рік тому

      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
      @adriastoner1202 Рік тому

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

  • @judelazaro468
    @judelazaro468 Рік тому

    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
      @AvalonAccounting  Рік тому +1

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

  • @milkywayandbeyond
    @milkywayandbeyond Рік тому

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

    • @instaccountant
      @instaccountant Рік тому

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

  • @jesusmarin95
    @jesusmarin95 11 місяців тому

    Can I write of tools ? And lunch ?

  • @courtgeek6357
    @courtgeek6357 4 роки тому

    thanks

  • @AndrewEydt
    @AndrewEydt Рік тому

    Thanks - good content to keep in mind.

    • @AvalonAccounting
      @AvalonAccounting  Рік тому

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

  • @ricardoaldana2137934
    @ricardoaldana2137934 Рік тому

    Amazing😊

  • @DadBodNutrition
    @DadBodNutrition 5 місяців тому

    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?

  • @lizaguillon1025
    @lizaguillon1025 4 місяці тому

    And if you are in the fitness industry, you should be able to write off the gym membership , no?