Hey guys,
Looking to write off the following this year;
- Lightspeed Headset
- Aerocourse ATPL seminar and Transport Canada atpl exam fees
- Cell phone use
Anyone done this before?
Any help would be appreciated.
Cheers
TAX WRITE OFF's?
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Re: TAX WRITE OFF's?
I've heard you can do all three.
I have also heard that the headset cannot just be written off in one year. Apparently since you bought it for over a certain price (let's call it 500 for simplicity), it is considered a long term expense and can be written off over the course of 2 or 3 years. Apparently what you would do is claim 30% of the cost one year, 40 % the next and the remainder the third year. The general principle/idea applies and all my numbers are used to better understand the concept.
I bought quite the headset as well in 2011 and have yet to figure out how to write it off; so looking forward to the responses.
I have also heard that the headset cannot just be written off in one year. Apparently since you bought it for over a certain price (let's call it 500 for simplicity), it is considered a long term expense and can be written off over the course of 2 or 3 years. Apparently what you would do is claim 30% of the cost one year, 40 % the next and the remainder the third year. The general principle/idea applies and all my numbers are used to better understand the concept.
I bought quite the headset as well in 2011 and have yet to figure out how to write it off; so looking forward to the responses.
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Re: TAX WRITE OFF's?
just get ur employer to sign a "declaration of conditions of employment". (a t2200 on the revenue agencies site) it doesnt cost ur employer anythying and can let u write off lots of stuff (depending on how ur employer fills it out). anything from "use of home, cell phone, meals for being away from base more than 12 hrs, use of ur car, etc)
but for the mechanics out there i suggest u start a business rather than using this form for your tools. do some work on ur buddies car, charge them money, buy any tools u want and write them all off, not having to use that stupid 'tool calculation'
but for the mechanics out there i suggest u start a business rather than using this form for your tools. do some work on ur buddies car, charge them money, buy any tools u want and write them all off, not having to use that stupid 'tool calculation'
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Re: TAX WRITE OFF's?
"Cell phone use" ??? I don't think you'll get a tax break for using a personal cellphone...MAYBE if its for work only but ive found that most guys just use their phone to send pictures of rats and stuff...goodluck justifying a rebate. Yeaaaaaright.