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Business Expenses for Tax Reporting

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					                                       (Month)   (Month)   (Month)   (Month)   (Month)   (Month)
Business Expenses for Tax     Line #
Reporting(Canada)



Advertising                   8521
Business Start-up Costs


Business Taxes etc            8760
Business-use-of-home          9945
Capital Cost Allowance        9936
Current or Capital Expenses


Delivery, Freight, and        9275
Express

Fuel Costs                    9224
Insurance                     8690
Interest                      8710
Legal, accounting,            8860
Maintenance and Repairs       8690


Meals and Entertainment       8523


Motor Vehicle Expenses


Office Expenses               8810
Prepaid Expenses
Property Taxes                9180
Rent                          8910
Supplies                      8811
Phone and Utilities           9220
Travel                        9200
Other Expenses
Record-keeping Tips for Canadian Avon Independent Sales Representatives

You have to keep all the records that will support the information you provide on
your GST/HST returns.

The records must allow you to determine how much GST/HST you owe or have
collected.

The records must be supported by original documents such as:

      receipts
      sale invoices
      purchase invoices
      vouchers
      banking information
      directors and shareholders minutes
      general ledger
      special contracts
      agreements

You have to keep all your business information for six years from the end of the
last tax year to which it applies.

Find more information about Canadian Self-Employment Tax Responsibilities:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/menu-eng.html
Definitions of Some Business Expense Categories


Capital Cost Allowance: depreciable property to use in business activities: a
building, furniture, equipment

Current or Capital Expenses: building improvements, or recurring expense like
painting

Maintenance and Repairs: cost of labour and materials for minor repairs or
maintenance done to property used to earn income

Prepaid expenses: expense you pay for ahead of time such as paying
rent for a year in advance

Supplies: You can deduct the cost of items used indirectly to
provide the business's goods or services, such as drugs and
medication used in a veterinary operation, or cleaning supplies
used by a plumber.

Other Expenses: Deduct on line 9270 of Form T2125 the total of other
expenses you incurred to earn income, as long as you did not include them with a
previous expense.

You do not have to list these expenses on the form.

Common Other Expenses:
Disability-related modifications

Computer and other equipment leasing costs

Leasing costs

Convention expenses

Allowable reserves

Private health services plan (PHSP) premiums

				
DOCUMENT INFO
Description: A template that makes it easy for you to break down your business expenses into categories for tax season. For Canadian Avon Independent Sales Representatives. Canadian Income Tax tips and definitions included in Word file.