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Our top tips on owning or leasing a vehicle in your business plus how to avoid a common and costly mistake.
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CONTENTS OF THIS VIDEO
00:00 - Intro
00:52 - Business Use vs Personal Use
01:50 - How Personal Use Affects Taxes for Owners
02:50 - How Personal Use Affects Taxes for Employees
04:34 - CRA Automobile Benefits Calculator Demo
08:10 - Big Mistake to Avoid: Keep Personal Use Under 50%
08:50 - Tax Deductions for Business Vehicles
09:50 - Supporting Documents
10:49 - Zero Emissions Vehicles (Rebates and Write-offs)
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MENTIONED IN THIS VIDEO
► Company Cars Blog Article www.avalonaccounting.ca/blog/...
► CRA Automobile Benefits Calculator www.canada.ca/en/revenue-agen...
► Documenting the use of a vehicle
www.canada.ca/en/revenue-agen...
► Mileage Tracking Apps
www.avalonaccounting.ca/blog/...
► Zero Emissions Vehicle Rebates
tc.canada.ca/en/road-transpor...
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AVALON ACCOUNTING
Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.
We provide online bookkeeping, accounting services and expert financial advice for small businesses.
We are on a mission to educate small business owners through our KZfaq channel, blog and free resources. Check out our links below to dive in.
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🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
www.avalonaccounting.ca/courses
🏅 ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE)
► Keys to building a business that provides owners with time, money and purpose.
www.avalonaccounting.ca/cours...
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
www.avalonaccounting.ca/cours...
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
www.avalonaccounting.ca/cours...
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CONNECT
► Website: www.avalonaccounting.ca/
► Blog: www.avalonaccounting.ca/blog
► Facebook: / avalonaccoun. .
► Instagram: / avaloncpa
► LinkedIn: / avalon-accounting
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FAQs
► What Can I Write-off? bit.ly/EXPENSESCAN
► Should I incorporate my business in Canada? bit.ly/INCORPCAN
► What is a shareholder loan? bit.ly/SHLOANCAN
► When and How Should I Hire an Employee? bit.ly/hirelikeapro
► Should I offer profit sharing? bit.ly/PROFITSHARECAN
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FLOAT VISA - $500 CASH BACK
Float Financial provides a company credit card built for modern businesses.
Check out our review for details
► www.avalonaccounting.ca/blog/...
Use our referral link to receive $500 cash back
► tinyurl.com/floatvisa
We may receive compensation when our link is used to sign up for a Float Visa.
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20% OFF INCORPORATION WITH OWNR
If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs:
► www.ownr.co/partners/avalon-a...
We may receive compensation when our link is used to sign up with OWNR
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FREE BUSINESS GUIDES:
► Starting Your Business Guide:
joecollins.typeform.com/to/bc...
► Business Owner’s Productivity Guide:
joecollins.typeform.com/to/zJ...
► Financial Foundations Guide:
joecollins.typeform.com/to/jF...
► $1 Million Dollar Service Based Business Guide: joecollins.typeform.com/to/e2...
► Manage Your Own Bookkeeping Course:
avalonacounting.thinkific.com...