Your business needs a new vehicle. The dealer offers two choices. Buy it for $65,000. Or: Lease it for $1,050 per month. The salesperson tells you leasing gives you a better tax write-off. A friend says buying is smarter because you own an asset. Your bookkeeper says the corporation can deduct the vehicle anyway. All...

Your business buys a $3,000 laptop. Then a $45,000 vehicle. Then $80,000 of manufacturing equipment. At tax time, you ask your accountant a reasonable question: Can I deduct all of this now? The answer is often: It depends. Canadian business owners frequently confuse two very different types of spending: Current expenses, which may generally be...