Quote:
Originally Posted by waddy41
^ Of course you can deduct amortization and inventory...those are normal costs of business..are you in high school accounting?
You can also deduct vehicle expenses, your car lease, phone bills, etc..
You can also push it with meals and entertainment, a new laptop, clothes....just about anything can be deducted as long as it's somewhat related to your business
But I think it's hard to profit from selling small items with low margins..
What area are you looking to purchase a business in?
Why don't you open up another restaurant?
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This is my first business so that's why I want something to be as simple as possible and I am doing this for the experience mostly, money is secondary. Opening a restaurant is an option, but not right now, it costs way too much and I am just not ready to handle such a large operation.
I am looking @ Vancouver West End and DT mostly right now. I checked out a few in Burnaby but they're all really dead (typical suburbia).
Thanks for all the replies guys! Keep them coming!