Expenses you can deduct
For more information on what we consider a current or capital expense, see Current expenses or capital expenses.
Some expenses your incur are not deductible. For more information see Expenses you cannot deduct.
If you are modifying a building to accomodate persons with disabilites, buying an older building, or encounter other situations, see Capital expenses - Special situations.
The following is a list of expenses that are deductible:
- Prepaid expenses
- Line 8521 - Advertising
- Line 8690 - Insurance
- Line 8710 - Interest
- Line 8860 - Legal, accounting, and other professional fees
- Line 8960 - Maintenance and repairs
- Line 8871 - Management and administration fees
- Line 9281 - Motor vehicle expenses
- Line 8810 - Office expenses
- Line 9180 - Property taxes
- Line 9060 - Salaries, wages, and benefits (including employer's contributions)
- Line 9200 - Travel
- Line 9220 - Utilities
- Line 9270 - Other expenses
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