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A personal question NF


HTHM

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Guest skeeter99

I write off $3500 to $4500 a year in my taxes, since I am self employed

 

it works out the I am paying about 87 cents a litre with the return I get in the write off

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The reason I am asking is I need to establish a baseline number to price a job in Sask that my brother-in-law needs done. Apparently they are VERY desperate for tradesmen out there, so needy in fact they would consider using me......

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It is up to you to negotiate with the company so include fuel, oil, and maintenance, you will also have to keep a record of millage per trip per day with receipts. You can get guidelines from our friendly government revenue agency.

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I am also self employed, and my accountant that does the taxes figures out what I can write off...gas,maintanance,insurance,was able to write of a part of a vehicle lease before I boughyt it out..depreciation of vehicle and so on, works out as a good chunk of a tax break at the end of the year.

 

for jobs where a travel charge is applicable to me, I work it out at $60/hr...30 cents a km, plus $30/hr bringing the travel charges to $60/hr

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For those of you getting more than the CCRA limits ( $0.52 / km and $0.46 / km after 5,000km) should know that you are required to claim the entire re-imbursement as income. However, you will be able to deduct your auto expenses. For those being re-imbursed for the CCRA limits or less, there is no need to report the re-imbursement as income.

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I'm one of the lucky ones with a company car (and gas card), but most of our sales force drive their own cars...and boy, are they ever getting hosed compared to most on here:

 

$0.35/km for the first 2000 km a month and only $0.20/km after that.

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