Freebies
Printed From: Carpet Cleaning Forum
Category: Carpet Cleaners Discussion
Forum Name: Carpet Cleaners Hangout
Forum Description: General discussion on anything related to carpet cleaning
URL: https://www.kleenkuip.com/forum/forum_posts.asp?TID=2114
Printed Date: 10/May/2024 at 7:17am
Software Version: Web Wiz Forums 12.06 - https://www.webwizforums.com
Topic: Freebies
Posted By: MR. STEAMER
Subject: Freebies
Date Posted: 18/November/2005 at 11:50am
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My acountant says I can claim every free thing that I give away to the customer as long as I record it on the bill. he says it's considered a loss.... does anyone else do this? ------------- www.mr-steamer.com |
Replies:
Posted By: doug
Date Posted: 18/November/2005 at 1:24pm
I am confused on the loss part. I would think it could be advertising such as a demo or such like a the value of a free room. What your saying is you invoice the customer for $500.00 get $95.00 and the other $405 is a loss????I don't think so? ------------- Just My opinion |
Posted By: Advantage
Date Posted: 18/November/2005 at 4:32pm
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Anything I give out goes under advertizing. That way you don't have to track each expenditure. Or customer appreciation wich you do have to track. ------------- CCT, UFT, OCT, CRT, RRT, WRT, SMT, FSRT, JTC, JSR, JWR, MTC a great life, if you don't weaken. |
Posted By: dontlikedennis
Date Posted: 18/November/2005 at 10:05pm
| good idea for Canadian tax law. |
Posted By: doug
Date Posted: 19/November/2005 at 2:38pm
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Steamer's account's office is behind bars?? ------------- Just My opinion |
Posted By: MR. STEAMER
Date Posted: 19/November/2005 at 4:44pm
this was a serious thread... leave it to doug to muck it up ------------- www.mr-steamer.com |
Posted By: carpetologist
Date Posted: 19/November/2005 at 5:09pm
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Steamer, My freebie experience came when I was audited. I could give away anything I liked free but the government wants the tax portion that would have been charged. ------------- Kleen Kuip Supply Mart Inc. http://www.kleenkuip.com - New & Used Professional Carpet Cleaning Machines, Restoration Equipment, Training, Service and Supplies |
Posted By: MR. STEAMER
Date Posted: 19/November/2005 at 5:12pm
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hew wants to claim it as a loss... an unpaid item...I think for that very reason ------------- www.mr-steamer.com |
Posted By: doug
Date Posted: 19/November/2005 at 6:07pm
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Steamer what you are saying at the end of the year you have $25,000. in bogus bad debts?? What do you want to do join your account? ------------- Just My opinion |
Posted By: MR. STEAMER
Date Posted: 20/November/2005 at 11:47am
legit bad debt ------------- www.mr-steamer.com |
Posted By: doug
Date Posted: 20/November/2005 at 3:14pm
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Microsoft JET Database Engine error '80004005'Could not use ''; file already in use. /forum/common.asp, line 260 Steamer will have to keep a third set of books now? ------------- Just My opinion |
Posted By: cmaster
Date Posted: 20/November/2005 at 4:54pm
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Posted By: doug
Date Posted: 20/November/2005 at 6:59pm
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Steamer will be sharing an office with his account ------------- Just My opinion |
Posted By: kelpro
Date Posted: 20/November/2005 at 8:25pm
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You mean a "cell" don't you Doug?
------------- If we can't get it out, it ain't coming out!  http://www.kelownacleanpro.com - Kelowna Cleanpro
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Posted By: cmaster
Date Posted: 20/November/2005 at 10:45pm
I think that's what he means
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Posted By: MR. STEAMER
Date Posted: 21/November/2005 at 9:33am
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doug should know all about that... he's in the witness protection program ------------- www.mr-steamer.com |
Posted By: cmaster
Date Posted: 21/November/2005 at 10:07pm
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Living large
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Posted By: doug
Date Posted: 22/November/2005 at 11:22am
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I have been slowly getting smaller? ------------- Just My opinion |
Posted By: cmaster
Date Posted: 22/November/2005 at 10:12pm
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Losing some weight, are you?
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Posted By: KingCarpetClean
Date Posted: 13/November/2023 at 9:32am
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Your accountant is onto something here. If you record those giveaways on the bill as a part of the transaction, it can be considered a business expense or a promotional cost, potentially lowering your taxable income. Many businesses do leverage this strategy, especially in service industries. It's mutually beneficial. You're offering a little extra value to your customers, and at the same time, you're playing the tax game smartly. Best Regards, KingCarpetClean  |