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MR. STEAMER 
True Patriot 
Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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 Topic: FreebiesPosted: 18/November/2005 at 11:50am |
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My acountant says I can claim every free thing that I give away to the customer as long as I record it on the bill. he says it's considered a loss.... does anyone else do this? |
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doug
King of the One Liners 
Just My opinion Joined: 31/January/2004 Status: Offline Points: 32711 |
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Posted: 18/November/2005 at 1:24pm |
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I am confused on the loss part. I would think it could be advertising such as a demo or such like a the value of a free room. What your saying is you invoice the customer for $500.00 get $95.00 and the other $405 is a loss????I don't think so?
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Advantage
Senior Member 
Joined: 22/May/2005 Location: United States Status: Offline Points: 158 |
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Posted: 18/November/2005 at 4:32pm |
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Anything I give out goes under advertizing. That way you don't have to track each expenditure. Or customer appreciation wich you do have to track. |
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CCT, UFT, OCT, CRT, RRT, WRT, SMT, FSRT, JTC, JSR, JWR, MTC a great life, if you don't weaken.
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dontlikedennis
Journeyman
Joined: 18/March/2005 Location: Canada Status: Offline Points: 259 |
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Posted: 18/November/2005 at 10:05pm |
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good idea for Canadian tax law.
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doug
King of the One Liners
Just My opinion Joined: 31/January/2004 Status: Offline Points: 32711 |
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Posted: 19/November/2005 at 2:38pm |
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Steamer's account's office is behind bars??
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Just My opinion
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MR. STEAMER
True Patriot
Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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Posted: 19/November/2005 at 4:44pm |
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this was a serious thread... leave it to doug to muck it up
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carpetologist
The Great Hardini 
Hocus Pocus Joined: 20/January/2004 Location: Canada Status: Offline Points: 1712 |
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Posted: 19/November/2005 at 5:09pm |
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Steamer, My freebie experience came when I was audited. I could give away anything I liked free but the government wants the tax portion that would have been charged. |
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Kleen Kuip Supply Mart Inc.
New & Used Professional Carpet Cleaning Machines, Restoration Equipment, Training, Service and Supplies |
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MR. STEAMER
True Patriot
Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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Posted: 19/November/2005 at 5:12pm |
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hew wants to claim it as a loss... an unpaid item...I think for that very reason |
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doug
King of the One Liners
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Posted: 19/November/2005 at 6:07pm |
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Steamer what you are saying at the end of the year you have $25,000. in bogus bad debts?? What do you want to do join your account? |
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Just My opinion
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MR. STEAMER
True Patriot
Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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Posted: 20/November/2005 at 11:47am |
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legit bad debt
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doug
King of the One Liners
Just My opinion Joined: 31/January/2004 Status: Offline Points: 32711 |
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Posted: 20/November/2005 at 3:14pm |
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Microsoft JET Database Engine error '80004005'Could not use ''; file already in use. /forum/common.asp, line 260 Steamer will have to keep a third set of books now? |
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Just My opinion
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cmaster
IICRC Instigator 
Joined: 29/January/2004 Location: Canada Status: Offline Points: 29693 |
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Posted: 20/November/2005 at 4:54pm |
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doug
King of the One Liners
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Posted: 20/November/2005 at 6:59pm |
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Steamer will be sharing an office with his account
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kelpro
Newbie 
Joined: 30/October/2005 Location: Canada Status: Offline Points: 26 |
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Posted: 20/November/2005 at 8:25pm |
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You mean a "cell" don't you Doug?
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