Re: Starting Out

Having been through a couple of "Back to Work" programs which
touched on the Entrepreneurial part this exact thing was discussed.

Mind you this is Canada we're talking about but I would guess the US
or just about any other country would be pretty close to the same.

The answer is yes to both questions.

You can deduct software for taxes, in fact here in Canada 100% of
the software cost is deductable. Meaning you completely write off the
whole thing where as the comp hardware is a certain percentage per
year like a car.

Now mind you there are certain restrictions regarding your first year
of business when it comes to write offs and your computer but I can't
remember the exact numbers.

And of course IF you plan on writing off business expenses like that
then the government is going to wonder, "Hmmm he's/she's running a
business but we have no record of a business license... Let's nail him/her."

Better safe than sorry in this area.

At 09:39 AM 21/03/2000 -0500, Joe Keilholz wrote:
>Hello All,
>
>I have been interested in starting to do some freelance for local
>companies/individuals and I have a question. Someone I know mentioned that I
>could deduct all of the programs that I use from my taxes as a business
>expense (which makes sense). Another colleague of mine mentioned that if I
>do this I should get a business license. I asked the person who said I could
>deduct programs from my taxes if he had a business license and he stated
>that he didn't. My question is: do I definitely need a business license and
>if so how do I go about getting one and is there a fee involved for this?


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