Hi,
I am incorporating and has my own company in Ontario. Can some one please advise me that which option is better for me from the following:
1) buy the brand new car on cash and claim the entire amount as company's expense while filing the tax?
2) buy the brand new car on finance or lease for next 4 years and claim monthly installment as company's expense while filing the tax?
3) buy the second hand good condition car on cash and claim the entire amount as company's expense while filing the tax?
Your guidance and support is much appreciated.
Regards
I am incorporating and has my own company in Ontario. Can some one please advise me that which option is better for me from the following:
1) buy the brand new car on cash and claim the entire amount as company's expense while filing the tax?
2) buy the brand new car on finance or lease for next 4 years and claim monthly installment as company's expense while filing the tax?
3) buy the second hand good condition car on cash and claim the entire amount as company's expense while filing the tax?
Your guidance and support is much appreciated.
Regards
