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Is it Deductible?

Expert: Julie King

Kevin asked:

I have just started (on a contract basis) a new job. My employer tells me that I may be eligible to deduct certain expenses in the course of my work. How do I find out which expenses I can deduct (computer purchase, cell phone, car expenses, home office or rent, etc). Also, do I need to register as a business to be eligible.

Julie King answered:

Recently we reviewed a book that will be an excellent resources for you, Make Sure It's Deductible. This book will be able to answer your questions and should be able to help you properly track and record your expenses. To read the review, click here:

As long as you are operating your business under your name - Kevin Smith - you do not need to register the business. However, if you decide to call your business by a different name, such as Kevin Smith Computes, you need to register the business name. Depending on where you are located, there may be specific requirements for the type of business name that you can select.

Also, if you have any concerns about whether or not you are a contractor and not an employee, you may want to take a look at Revenue Canada's guidelines on this topic, which are available at:

I hope that helps!

About the author

Julie King is the co-founder and managing editor of CanadaOne, Canada's first small business portal.

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