How to track non-bank expenses

These include home office, vehicle, owner draws and unusual purchases.

New clients will receive our Home Office Expense Worksheet, which has templates for home office, vehicle expenses, owner draws/injections, e-Transfer history, and unusual items. It’s a good idea to update this document on an ongoing basis throughout the year

Track any expenses that you’re not 100% sure about on the Unusual Items tab. This includes equipment purchases, conferences, concert tickets, etc. Record all the details you have and we’ll go through them at the end of the year. 

Make sure to check out our Tax Grey Areas blog post for more on home office and vehicle expenses.