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Top 10 Tax Write-Offs for Small Businesses in Canada - Tax Deductions Explained

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Comments Top 10 Tax Write-Offs for Small Businesses in Canada - Tax Deductions Explained

I love the Seinfeld example!! Schitts Creek did a bit on tax write-off's that was supper funny too Comment from : DCARA06

cute and smart, deadly combination Comment from : Umar Tariq

Hey Jessica, great video I am in the process of shopping for a bank for my business What banks do you recommend for lowest fees? What is your take on online banks like Tangerine with no business monthly fees? Comment from : Mike Guo

Thank you Jessica If I am going to source products from the United State to resell them in Canada, do I need a business number (or import liscence)to do that? Comment from : CT

SO I bought a laptop for starting my business ( software Development Incorporation ) in 2022 but i registered my incorporation in 2023 Can i used it in write off ? Comment from : Tech DEX

Good information, thank you Comment from : VerrilloTrading

Is being a contractor on Instacart or DoorDash considered a small business or do they fall under different laws? Comment from : Tawnya Foster

Nice and helpful presentation Thank you Comment from : Diana Bonilla

Hey Jessica! New fan here Thanks for the great info Comment from : Getting It Done North Of 7

Hi Jessica, thanks for sharing this knowledge My partner and I are self-employed that work from home Do you know if we can both deduct (tax write-off) things like rent, internet, electricity, etc? Thank you Comment from : Hugo Mora

This was very helpful Great video Comment from : Buck Taylor

Thank you for sharing, I started my corporation almost a year ago and now I am learning what I need to have in order, this helps tons Comment from : cactusmilo918

How do you find the percentage you can write off for business use of home expenses? Comment from : Eric

Does reinvestwealth work for replacing QuickBooks? QB is getting expensive for myself as a small business Comment from : Neil Howlett

Are these processing fees so bad?? Comment from : Edward’s Family Workshop

Wait so can you write all these offs if you are a sole proprietor or corporate? Comment from : TERENCEWILD

Question about website and hosting Can I get that going before I have a business? Comment from : Michele Fisher

Thank you Jessica for the connection with Montreal’s Reinvest Wealth!! I have an appointment soon! I’m starting a counselling practice soon and this information is nil to me! I’m very excited now! Thank you so very much!!! ❤️ Comment from : Michele Fisher

Just to clarify, "Office Expenses" include pens, paper clips and so on while "Office supplies" includes software subscriptions, etc To me, those labels infer the opposite Pens seem more like a supply than an expense and accounting software seems like more of an expense than a supply? Comment from : Bizrinkta Brown

Thank you so much Jessica for this very informative video Really appreciate And agree with @jaredvincent 1067 for a video specific to podcast ❤🙏 Comment from : FillExpats Le Podcast

My husband and I are about to purchase/succeed an established farm business do you have anything about paying yourself as a sole prop? Comment from : Kaiti Inglis

Great video, love your podcast! Comment from : rhokdatroll

Hey Jessica, what software would you suggest for self-proprietor to keep track of income/tax/deductions? And also which can help to submit taxes when time comes? Would be great to see a video on this topic with a demo! Cheers ! Comment from : Ivan T

Btw, as a self-proprietor you can also write-off a half of CPP contribution (company's portion), family insurance premium, purchase of software/hardware (can be 100 or can be less, depends on a hardware) Comment from : Ivan T

In professional Dues if I have to use online subscriptions like video editing software, sound libraries, that are all subscription based are these things covered under the same category as a deduction/write off? Comment from : D K Keyz

Well done Jess! Comment from : Alexandra Petre

Hello Jessica, this is a great presentation kudos But quick a question i run a business(Incorporated) from home as an IT consultant(Remote from Home) , the company i consult for are based in another province, my question is can i buy a car or finance a car using my business and claim this as Tax deductions during tax filling for the year?' Comment from : Seyi Akinbade

Awesome video! What percentage of home expenses are you able to write off? Half? Comment from : Hello, Moti

Very helpful, thank you! Comment from : Matthew James Duffy

Keep coming back to your videos just to make sense of everything,, but I wanted to know more about insurance for you personal vehicle and work vehicles,, im a subcontractors for cleaning companies, have 3 different place to get to I travel around 120 km everyday round trips, and aside from that Gas/fuel cost can be written off? Do I have to sign up for gst/hst? Thank you for your time making the video s Comment from : sam pah

Thanks for the video! Would the software help with book keeping your expenses and your in/out of a corporation? Or is it something to add to something such as quickbooks? Comment from : AG

Love the small bus content More small bus info in podcast form would be great as well Comment from : jared vincent

Your videos are so informative Canadian specific, thank you! Comment from : Cloudy Day Cauldron

Perfect amount of pink 💗 Comment from : Brndafay

Too much pink Hard to watch the video Dark background better for eyes Comment from : Sage

This is a very helpful vid, especially as a Bookkeeper newb who will have to answer questions like these 😉brbrI have a question: Would y0u advise a new entrepreneur to register their business, so that they can claim write-offs, even if they haven't made any income? I'm in desperate need of a new computer, planning to purchase early next year, but I have no clients and might not have any at the time of purchase brbrIt would be REALLY nice if part of that could be written off 😅brbrThank you for your awesome and helpful channel, Jessica! Comment from : Bleh

This video could not have been posted with more perfect timing! brbrQuestion for you: brI’ve recently incorporated and pay professional dues I usually have these as a tax deduction when filing my personal taxes… long story short I have two jobs (one as a professional contractor and one as an employee) Both require professional licensing and therefore fees Can that be written off twice? brbrThank you for all the great content! Comment from : livinglikelee

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