expenses for inc. employee

[nazali]

Hey,

<Disclaimer> Yes I am trying to get a decent accountant, yes I've got different information routes and no, I'm not holding anyone responsible

Specially for Canadian,

This is regarding a Self.emp, for there own incorporation , and sole employee (in IT) driving to a permanent place of work.

I'm trying to find a list of things I can claim for, specfically

> only commuting to work : gas, maintenance (for car), car parts, tools for car
> lunch, if no lunch room available, can I claim a weekly grocery bill
> as I have no benefits, can I claim for prescriptions,
> Donating money from company to charity, is it better than from my personal funds
> clothing for work, buisness attire / grooming /haircut etc
> I have a room (bedroom-spare) with a desk where I do paperwork etc, can I claim for house bills or part of

Is anyone aware of a forum where I can run newbie type questions

many thanks

[DenverSteve]

As you already know, you need to speak with an accountant in your local area. Normally I would say the answer to most of what you ask is not - but, no one knows anything about where you are, or about your business. If you are self-employed and own/operate a business, you need to have your attorney, accountant and advisors on speed dial.

[nazali]

LOL - speed dial, nice

no txs for the reply, I have got more info, I'm seeing another accountant on monday hopefully, I've seen 3 already, though most say the same things,
there are some differences

to work out if I need a payroll, just for me, one person said no, 2 said yes ! lol

but no, good advise txs

Originally Posted by DenverSteve

As you already know, you need to speak with an accountant in your local area. Normally I would say the answer to most of what you ask is not - but, no one knows anything about where you are, or about your business. If you are self-employed and own/operate a business, you need to have your attorney, accountant and advisors on speed dial.

[Bc2005]

For US contractors there is a difference between regular employees of a company, and the independent employees working as a 1099 contractor for the same company. It sounds like you are trying to figure out the tax rules for each type of employee, so hiring an accountant is the best way to get some “education”.

Also remember that there may be other impacts from working as a 1099 employee. Your employer might be using that venue to get around internal hiring freezes or personnel caps, or to avoid leasing space for full employees. This might affect their readiness to renew a contract or accommodate special work conditions. For example if you decide you want to work 10 hours/day for 4 days a week and that does not fit well with the business requirement. they might find it easier to find a contractor who works a standard 5 day schedule. You have no promises or employee rights other than what is in your contract.

[nazali]

txs again !

[chassis]

In the US:

Deductions from revenue for a pass-through LLC business:

- mileage reimbursement (all in for gas and other operating expense)
- meals per diem
- lodging per diem

Clothing, donations to charity, prescriptions not deductible in the US. Donations may be deductible on your personal income tax return.

Address any non-deductible expenses in your price/compensation you charge your client.

One way to calculate price for a consulting business is to double your target full time salary and divide by 2,000. This is your hourly rate charged to the client.