Reimbursement, whether it's 'as agent', 'not as agent', a claim for insurance, a reimbursement of supplies, as part of a job which combines services and goods, or just for a reimbursement for goods, each has it's own specific rules, dependent on who it is that is doing business, and why they are being reimbursed, in what capacity, whether as an employee, self-employed, on contract, an owner/manager, a partner, a volunteer, or a partnership.
Are you confused? I certainly was... but working through the rules helped me to clarify what rules apply to whom. You'll find this webinar helpful, as not only do I show you for an hour, how to use QuickBooks to deal with a variety of situations, but we briefly review the rules, and I provide a comprehensive reading list of technical links to click to, on the CRA website, and on the Justice website for the Income Tax Act, and the Excise Tax Act.
We even take a brief look at how to deal with replacement property, how to defer the gain and the recapture of CCA.
This material won't just take an hour to review, there's more to it than that.
Oh, did I mention, there are sample *QBB files to download for a variety of situations, construction, consulting, foreign customers, insurance claims, lawyers WIP, rental common area maintenance costs for commercial tenants...
If someone were to make an offer to purchase the rights to TaxDetective (Trademarked in Canada), I'm open to offers.
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