When it comes to writing off expenses on business taxes, there are many different types of expenses that may be eligible. These can include things like office rent and utilities, employee salaries and benefits, marketing and advertising, and professional fees. It's also possible to write off the cost of goods sold, such as the cost of inventory and raw materials. Additionally, the cost of capital assets, such as equipment, vehicles, and furniture can be written off through the capital cost allowance (CCA). It's important to consult with a tax professional or the Canada Revenue Agency (CRA) to ensure that expenses being written off are legitimate and in compliance with tax laws.
