Best Financial Advisors in Kamloops, BC

What are ride-sharing services? Are these services eligible for a tax deduction for your business? There are many ride-sharing services with Uber and Lyft being the most popular and most available in major cities. Our city of Kelowna only recently approved Uber to bring its ride-sharing services to customers. While taxis and personal transportation are more popular locally nowadays, I expect to see a shift in how people and businesses get around in the near future. Generally, if an expense is incurred to earn business income, then the expense is eligible as a deduction for corporate tax purposes. In other words, ride-sharing costs from services like Uber and Lyft are eligible for a tax deduction; however, their purpose in earning business income needs to be clear and documented. So then, what is the best way to make sure these expenses are eligible for a tax write-off in Canada?