Another question we often get asked is – What expenses can I deduct?
This subject could cover a lot of territory so we are doing a series of quick blogs to cover the more common items. This is the fourth blog.
As a general rule a business can claim and deduct any expenses incurred to run the business.
But, there are a few that might not be obvious:
Clothing is not a deductible expense unless it is a uniform that staff is required to wear or safety equipment required to be worn on the job. For example, a nice warm parka would not be deductible although a fire resistant coat would be deductible. Same would apply to ordinary work boots vs steel toed work boots.
If you are wondering about whether a particular bit of clothing is deductible give us a call and we’ll do our best to determine whether or not it is deductible.