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CCA / Depreciation of Capital Assets ?
- Subject: CCA / Depreciation of Capital Assets ?
- From: Leah Kubik <..hidden..>
- Date: Thu, 5 Apr 2007 11:02:46 -0400
I tried to send a question about this before, but I am not sure if it went
through correctly. Anyhow, I'm doing my taxes and I'm trying to figure out
what is the best way to track in the Ledger-SMB Capital Assets on which I
claim CCA allowances yearly for.
That is, you can write off, say, 40% of the costs of a computer as a business
cost on your taxes, each year. So the value of that asset, you have to
assume, is reduced by 40%. I am trying to sort out what is the best way to
do this in the accounting system so that I know the next year what part of
the assets have been depriciated, what is still left, etc. Has anyone come
up with a nice way to handle this?
CCA is the specific term used for Canadian Capital Cost Allowance deductions:
Leah Kubik : d416-585-9971x692 : d416-703-5977 : m416-559-6511
Frauerpower! Co. : www.frauerpower.com : Toronto, ON Canada
MSN: ..hidden.. | AIM: frauerpower | Yahoo: h3inous
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