Business Expense Categories

Click on any of the links if you want detailed information on the following business expenses:

• advertising

• allowance on eligible capital property

• bad debts

• business start-up costs

• business tax, fees, licenses, and dues

• business-use-of-home expenses

• capital cost allowance (We will request the relevant info from you to determine how this applies to you for the year.)

• delivery, freight, and express

• fuel costs (except for motor vehicles)

• insurance

• interest and bank charges

• legal, accounting, and other professional fees

• maintenance and repairs

• management and administration fees

• meals and entertainment (allowable part only)

  • long-haul truck drivers

  • extra food and beverages consumed by self-employed

• motor vehicle expenses A mileage log is necessary when a vehicle is used for both business and personal use. If your business/total use ratio will be the same every year, it is only required that you keep a mileage log for one year. However, we find the the longer you are in business, the more business travel you will do. For this reason, keeping a mileage log for each year will be to your benefit. Click here for what’s required for mileage records. Click here for the types of vehicle expenses you can claim.

• office expenses

• other business expenses

• prepaid expenses

• property taxes

• rent

• salaries, wages, and benefits (including employer's contributions)

• supplies

• telephone and utilities

• travel