In his 23 years as an accountant, Frank Jasek has been asked by clients “more than once” whether they can write off gambling expenses in Las Vegas (no, even if they are with a client). And ditto for escort services, even though they’re legal in the state of Nevada.
Business travel is one expense category that attracts a second look from Canada Revenue Agency (CRA), mainly because there’s potential for personal benefit, says Jasek, a partner with tax and accounting firm Prapavessis Jasek in Toronto.
As a result, he says, in recent years, the CRA has homed in closer on those writing off business travel expenses.
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