If you are a business owner or an employee who needs a car for work, you should know whether it's more tax efficient to buy or lease a car in Canada. There are several steps involved in answering the question, "Is it better to lease or buy a car for a business in Canada?" Watch this video to learn more. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharter... Add us on Google Plus - https://plus.google.com/u/1/108551869... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of Contents 00:39 - Buying A Car - Step #1: Calculate Cost of Car + fees & HST 01:08 - Buying A Car - Step #2: Calculate Maximum Amount for CCA 02:00 - Buying A Car - Step #3: Calculate Total CCA 03:48 - Buying A Car - Step #4: Calculate Tax Savings 05:45 - Buying A Car - Step #5: Calculate After Tax Value of Car 07:10 - Leasing A Car - Step # 1: Calculate Total Cost of Lease Over Lease Term 08:17 - Leasing A Car - Step # 2: Calculate Tax Savings From Lease Payments 09:06 - Leasing A Car - Step # 3: Calculate After Tax Cost of Lease 09:33 - Head to Head Comparison: Buying vs. Leasing 10:43 - Take Into Account: Hidden Costs for Leasing 11:30 - Take Into Account: Pride of Ownership 11:40 - Take Into Account: Cash Flow 11:58 - Take Into Account: Interest Rate About the Author -- Allan Madan -- Accountant Mississauga, Oakville, Toronto Allan Madan is a Chartered Accountant in the Mississauga, Oakville and Toronto regions of Ontario, Canada. He provides tax planning, accounting and tax return preparation services for his clients. Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Is It Better to Lease or Buy a Car for a Business in Canada? - YouTube | |
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Education | Upload TimePublished on 8 Jun 2011 |
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