Writing things off for tax purposes under Canadian tax law

[authenticentrepreneur]

What I am not clear on is how is it decided if I can write something off (such as a vehicle or computer) for tax purposes?

Is there a minimum amount of revenue that the business must earn?

Can I write off all the equipment I buy?

Perhaps there is no set amount and it is at the discretion of revenue Canada.

Yes, I COULD contact an accountant (and I plan to) but any advice is appreciated.

I also wonder (particularly for those in Canada) how you handle your bookkeeping? Do it yourself or have an accountant?

Thanks!

 

[BIG WOOD]

C P A

call one

 

[FB7777]

We also provide free medical, financial and nutritional advice

 

[Zee]

Some here can be assigned to tuck you in bed every night....

 

[Nomad74]

My CPA and his wife have Covid. I know he'll be home, want his number?

 

[FB7777]

My CPA and his wife have Covid. I know he'll be home, want his number?

He’s from Canaduh...

they get their accounting advice from sheep herders