Can i claim a deep freezer as a expense

[DORITOSGIRL]

Hello
I am just wondering if I can legally claim the deep freezer we bought yesterday at a clearance sales at a Sears Warehouse.

Before starting the daycare I had no use for one, but quickly found the freezer in the fridge was too small once I started making items to freeze for meals/snacks.

I paid $ 222 for the freezer with tax. It is normally a $ 600 freezer but thanks to a scratch on it we got for less than half.

Also I live in a 1100 square foot house 50% of my house is used for daycare and living. How do I figure the amount of utilities I can claim. I know there is a formula on the government website but I can not wrap my head around it. I have tried several times. I do know the accountant will do it for me but I would like to have a idea in the mean time.

Thanks once again for your advice and help.

[playfelt]

YOu should be able to claim it under CCA - capital cost allowance. You claim a portion of it as daycare and a portion of it as personal such as 50% of the cost for each. You won't get a lot back this year since your claim will be based on 50% of the cost but the balance will all be carried forward and you will get more next year until the whole 50% is claimed.

[DORITOSGIRL]

Thanks. That almost makes sense to me. I am really terrible with math. It is honestly a foreign language to me outside the basics

[mimi]

I always have an accountant do my returns. The fee they charge is reasonable for my piece of mind and they take the questions out of what I can claim. It is an investment (which you can deduct) in your business and your finances .

[DORITOSGIRL]

Thanks Mimi. I plan on having a accountant do my taxes for me. My husband thinks its a waste of money but I sooner pay for the taxes knowing the tax was completed properly than worry about getting audited or worse

[mimi]

You are welcome :) I like to sleep at night!!!!!!!!!!..... ..and they always come up with a deduction I didn't think of eg: clothing specific for daycare