Forum Moderators: LifeinAsia
I've done some searching at Chapters and other book stores regarding what you can claim in a business, but I can't find a book that specifically mentions Internet related businesses, and what different Internet expenses go under when filing taxes. I've also searched the Internet.
For example, what does Page tracking, SEO, domain name purchasing, website hosting go under? Are there different rules for claiming some of these Internet related services? How does it work up here in Canada? Is there a huge list somewhere of items, and what categories they fit under? It seems like the info I've been finding has been very vague to say the least.
What do you do with software and hardware?
Yeah, I'm confused. Any help would be greatly appreciated.
Brian
In general, all existing laws that apply to traditional commerce apply equally in an electronic environment. For example, laws related to business incorporation, business name registration, taxation, consumer protection, deceptive advertising, importing/exporting, product safety, product standards, criminal code, inter-provincial trade treaties, intellectual property and liability, all apply.Companies must comply with the law of any jurisdiction where it is considered to be 'carrying on business'.
For detailed information go to the Revenue Canada website, select English or French, and click E-commerce at the bottom of the Business column. And any others that catch your interest.
Also read/download RC4070(E) Rev. 01: Guide for Canadian Small Businesses
Basically business expenses must be backed by proper receipts and/or cancelled cheques/etc. A business expense is a business expense, web related is not a 'special' category.
Please get yourself a competent accountant.
And a business plan.
(bookkeepers will organize your stuff for $18-20/hr, then off to the accountant at $100/hr or so)
While they are doing that (much faster than you), you go make cash doing what you are good at.
