Welcome to our Knowledge Nugget series – developed during our tenure as owners of Fiscal Integrity Group Inc. Enjoy!
We all know the premise, you write off expenses related to the business and for the business to generate revenue. Yet there is much confusion as to what is allowable and what is not. There are also rules that apply when it comes to things like mileage allowances and company vehicles. This nugget explores the realm of legitimate write-offs. It also explores our thinking on write-offs pushed on bookkeepers by adamant business owners and managers.