As a small business owner, one of the biggest expenses you may face is the cost of operating a vehicle for your business. From fuel and maintenance to insurance and depreciation, the expenses can add up quickly. However, with some careful planning and smart choices, you can save money on
Claiming mileage deductions can help self-employed professionals in Canada save money on their taxes. Understand the CRA guidelines and use tools like Psngr to simplify the process, in order to maximize your deductions while minimizing the risk of errors and audit.
1.Meals: Most companies will expense the whole bill providing it's a reasonable amount, and you haven't been out to The Ritz for High Tea. It's worth checking the company policy as some companies will only refund 50% of the bill. 2.Laundry: Laundry can be claimed, again it's within
When starting out there are many costs to take into consideration. Here are our top 5! Office Space: Rent, bills, maintenance, and all other manors of office upkeep are the single greatest cost when starting out. Finding office space is only the start. Managing the fit out, complying with safety
Pen and Paper: Outdated, time consuming and inaccurate however, much of the UK still logs business mileage for tax reimbursement manually. Remember, all UK mileage logs need to be kept for 5 years - that's a lot of trees! Spreadsheet: A step up from pen and paper and it's presented