So I am just starting this year but I am the type of person to be over organized and like to plan ahead. So I am trying to get a handle on things now so I am good come next year tax time.
My question is do any of you claim a percent of your cell phone? If so what percentage? I do all my business with my cell but also use it for personal use. I know you can claim a reasonable percentage according to CRA so what would it be?
Second question, capital cost allowance does it have to be a min amount? What items can go there? I know things that are used for a long period of time that will depreciate in value but not sure specifics. Putting expenses under the cca means I can claim the percentage again the year after and so on right?
Sorry for all the questions. And thanks in advance.
P.s good luck to everyone whi is doing theirs this year!