Any accountants familiar with Canadian business writeoffs?

[Ender]

I googled it but all I came up with was a very complex formula with ABCD variables referring to all over the place. Thus, I ask if anyone here knows how one can calculate exactly what the limit of writing off lease payments on a car is.

 

[desy]

Did you go to any gov't of Canada sites? IE Canada Customs and Revenue

 

[blakeatwork]

your best bet is to talk with an accountant, or, if you're cheap or just curious, check out CRA, and find page that lists the formula. It IS complicated, due to the tax laws governing vehicle write-offs. While I remember some of it from CGA, I'm not an expert by any means. Call the experts, that's what they're there for.

 

[Kntx]

I don't know the specifics, but I know a couple guys who claim they pay next to nothing for their leases due business writeoffs.