Navigating Auto Expense Deduction at Year End: What Clients Need to Know

Doubtless you’ve had clients ask whether they can write off any portion of their vehicle for work or business purposes. And your answer, as always, is: “It depends.” The rules are worth reviewing at year end as they can vary significantly depending on how the client earns their income—employee, self-employed, or incorporated – and this is a deduction that’s often audited. Here’s a practical primer to guide that conversation.

With a target date of April 2016, CRA is moving closer to the elimination of cheques and manual payments and towards full electronic banking for businesses.

 

Have you noticed EverGreen Explanatory Notes have been updated?

Sign up before December 15 to secure your spot at the Knowledge Bureau’s Comprehensive Day Long Tax Update!

It seems to sneak up on us every year:  the Christmas Holiday season.  Regardless of how you celebrate, it is a time to reflect, count your blessings, give,  and re-evaluate how you will use your precious resources of time and money in the new year.

Grow your business with the DFA - Bookkeeping Specialist™ Designation.