Income Tax
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TELUS Business Freedom Plan will reduce your TAX!
Business friendly mobility service TELUS launched their Business Freedom service for Western Canada on October 6, 2011 at the Network Hub in Vancouver.
The bundled business mobility, land line and internet service comes in a very attractive price package for businesses, without any long term commitments.
The most attractive features for me are, no long term commitments, any time device upgrade and changes to services depending on your businesses growing need and rather than having three bills for three services, all three services bills are combined in one bill. WOW!
Businesses and technology are changing in rapid speed. It’s not possible to be tied to a three year contract for a mobility service. It’s good to see that TELUS noticed this need and introduced a service targeted to dynamic nature of its business customers.
If you have a business and using your personal mobile plan to run your business that is not a good idea. It would be hard to separate the bill and allocate the expense to your personal usage and business usage. Canada Revenue Agency (CRA) is very heavy handed when you try to claim your personal mobile phone bill as a business expense.
Business freedom bundle from TELUS if subscribed through your business is 100% tax deductible business expense. The service fee will be billed to your business and you can claim 100% of it as your business expense. Starting plan of two mobile phones, a land line business phone and business internet service with TELUS business freedom plan might cost you about $2,500/year. That’s about $800 savings in taxes, if you are currently using any personal mobile plan to run your business. And most probably just your personal mobile plan cost you more than $2,500, if you are running a business, without any tax savings.