How to determine which expenses are ‘operating expenses’?

As a business owner, an essential part of your responsibilities is to record your business expenses. However, this can get tricky sometimes because businessmen have a hard time determining which category the expenses fall into. According to CRA, the following expenses can be recorded as ‘operating expenses’ by a business:

  • Advertising Expense
  • Bad debts
  • Insurance expense
  • Delivery and freight expense

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Pay Less Tax

A great small business tax accountant does more than just measure value, they create it. At CPA4IT our goal is to save you substantially more than it costs you for our services. Over the last 30 years we have developed tax strategies designed to help you keep more of your hard earned money. If you would like to learn how we can help you pay less tax, simply download our FREE Guide to Pay Less Tax.