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January 26, 2023
Question

Starting a business Feb 1st 2023. Bought supplies Jan 2022, where do I claim these supplies?

  • January 26, 2023
  • 1 reply
  • 0 views
I've looked for the answer everywhere and can't find it. I was an employee for 2022 but do I still claim the materials I bought in 2022 or do I still go forward and claim in 2023. All I found was that materials have to claimed in the year they we're bought but my business doesn't officially start till the new year, any help is greatly appreciated!

    1 reply

    January 26, 2023

    Here is the information you are looking for in our TurboTax article: What You Need to Know About Claiming Start-Up Costs For a New Business in Canada.

     

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