I have two home-based businesses. I have tracked total vehicle expenses and total business KMs driven. Can I put these expenses through one of the businesses?

If you are using the vehicle for business purposes with both businesses, then you would have to keep track of each use of business km and apply the expenses separately for each business.  Your logbook is to be precise, not only with Km driven but for what purpose and for which business. Please note that your personal use of the business cannot be deducted as a business expense. Each business must be filed on separate forms.

 

Please see the links provided for more detailed information.

• From TurboTax Blog: What Motor Vehicle Expenses Can Self-Employed Claim?
• From the CRA:  Keeping motor vehicle records
• From the CRA: Self-employment CCA

 

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