Expenses towards traffic (searchfeed, 7search, etc) tax deductible?

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Yze

Yze

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Aug 19, 2006
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This should be legit right? Any type of expenses towards traffic should be tax deductible yes?
 


I would assume so. But I'm not a CPA so I can't say for sure.

I did take 2 semesters of accounting though ;)
 
Generally, anything that is related to your business can be considered an expense. Anything that you share between business/personal should be written off accordingly (by %).

Yes:
Traffic from AdWords
Dinner with Potential Client
Tuition for that HTML Class
Business Book From Amazon
A reasonable amount of your rent (think: how much a small office suite would have costed you)

No:
Dinner with Girlfriend
Engagement Ring
Hookers

Questionable:
Booty Bar Tab with Client
 
Yes! My type of thinking.
if you can deduct the expenses (7search, etc), then you'll basically have NOTHING to loose..LOL

::emp::
 
Of course it's a deduction. Companies and people are only taxed on profits.
 
yumm...i just figured this out the other day too..i was starting to worry about taxes=/
 
Some of you guys need to read-up on taxes and possibly business in general or *gasp* hire someone to take care of it for you... yuo'd be surprised at how much shit you can write-off as expenses.

Someone - Dinner with girlfriend.... does your receipt say "dinner with girlfriend"... no ;) `nuff said. And anything with client ... so tity bar = OK. Hookers for clients "party" sure ;) (NOTE: I'm not a CPA and this is not 'legal' advice' or anythin gof that sort only ramblings..)
 
Tax laws are different from country to country too. Here in Canada, you had better be prepared to justify your expense account receipts. The rules state that you must have some pretext at profit for each expense incurred.

This means that if you expense something knowing full well there is no chance in hell of earning any profit from it, chances are CRA will not allow the claim for deduction. For example, a night at a titty bar would never be an allowable expense. Their view is that if it smells like fraud and isn't likely to generate meaningful business, it isn't a business expense. Oh, and they'll flag your account for audit every year from then on.
 
BNWFinance said:
Tax laws are different from country to country too. Here in Canada, you had better be prepared to justify your expense account receipts. The rules state that you must have some pretext at profit for each expense incurred.

This means that if you expense something knowing full well there is no chance in hell of earning any profit from it, chances are CRA will not allow the claim for deduction. For example, a night at a titty bar would never be an allowable expense. Their view is that if it smells like fraud and isn't likely to generate meaningful business, it isn't a business expense. Oh, and they'll flag your account for audit every year from then on.
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You mean to tell me your company can't have an entertainment budget to take clients out and wine and dine them? Wow Canada sucks :( :bootyshake:
 
ToddW said:
You mean to tell me your company can't have an entertainment budget to take clients out and wine and dine them? Wow Canada sucks :( :bootyshake:
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So long as those "clients" are likely to buy something from you or have bought something from you, then you can expense it. If CRA can show that there was no liklihood of them ever buying anything from you, they won't allow the deduction.
 
BNWFinance said:
Tax laws are different from country to country too. Here in Canada, you had better be prepared to justify your expense account receipts. The rules state that you must have some pretext at profit for each expense incurred.

This means that if you expense something knowing full well there is no chance in hell of earning any profit from it, chances are CRA will not allow the claim for deduction. For example, a night at a titty bar would never be an allowable expense. Their view is that if it smells like fraud and isn't likely to generate meaningful business, it isn't a business expense. Oh, and they'll flag your account for audit every year from then on.
Click to expand...

I don't know what your accountant has told you but I write off a ton of bar tabs and have never, ever had any problems.
 
John said:
I don't know what your accountant has told you but I write off a ton of bar tabs and have never, ever had any problems.
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Yeah - maybe he needs a new accountant. Some of them are really really good but H&R block and other "large company" tax places SUCK!

Your accountant/tax guy/girl should make you go "wow" I didn't know I could do that.

BTW: I don't see how they can "PROVE" the likelyhood of you selling/not selling from dinner/etc.
 
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