For a number of years, Ms. Alexandria Bouclair has operated an unincorporated business. Because of a growing need to travel for this business, on September 1, 2020, she acquires an automobile that will be used 100 percent for business. The cost of the automobile is $63,000, of which $50,000 is financed by the dealer. Interest charges for the period September 1, 2020 through December 31, 2020 total $2,000. What amounts can Ms. Bouclair deduct in her 2020 tax return with respect to this acquisition? Ignore GST and PST considerations.

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The Answer of For a number of years, Ms. Alexandria Bouclair has operated an unincorporated business. Because of a growing need to travel for this business, on September 1, 2020, she acquires an automobile that will be used 100 percent for business. The cost of the automobile is $63,000, of which $50,000 is financed by the dealer. Interest charges for the period September 1, 2020 through December 31, 2020 total $2,000. What amounts can Ms. Bouclair deduct in her 2020 tax return with respect to this acquisition? Ignore GST and PST considerations.

For a Number of Years, Ms