I realize I am having a bad day (don't ask) but seriously people! In what parallel universe do you believe that Dora the Explorer slippers and ladies panties qualify as a business use of home office expense? Really?
I have just waded through a stack of faded, wrinkled cash receipts of which I probably used 3%. The rest were for things that were clearly personal and had nothing whatsoever to do with this particular business, or pretty much any other.
All I can say is, when you get my bill, don't complain about how much time it took me to do your statements. Most of it was spent wading through things like this.
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Okay, I am an accountant and as long as I've been doing this, I am still frequently amazed by what people think they can get away with as legitimate business deductions. So, I've made a little list of things that you CANNOT claim:
* cigarettes purchased at the gas station when you fill up do not count as "fuel"
* if you have a home office you can claim reasonable expenses such as a portion of your utility
bills, phone, etc. Generally speaking new bedroom or patio furniture is not a reasonable
office expense.
* when submitting receipts for auto repairs on a vehicle you claim for business, don't include
receipts that are clearly made out to someone else, for another vehicle entirely.
* gifts of jewellery purchased for a spouse cannot be used as a meals and
entertainment deduction, even if you did go out for dinner first and your spouse was
entertained by the gift.
: )
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