09/02/2026
Canadian small business owners: a tax deduction is only useful when the claim is supportable. 🇨🇦
Five areas create confusion again and again: meals and entertainment, home-office costs, vehicle expenses, personal versus business spending, and purchases that may need to be treated as capital assets.
The common theme? Do not guess. Keep records, document the business purpose, and claim only the business-related amount you are entitled to under Canadian tax rules.
For sole proprietors and incorporated business owners, the rules are not always identical, which is why “my friend deducts it” is not much of a tax strategy. 😄
Save this carousel for the next time you are sorting receipts — and if an expense feels like a grey area, ask before filing rather than after CRA asks.
Which business expense causes you the most confusion?
