Running your own business is tough enough without the added pressure of organising your financial records come tax time. There are ways to make it easier and streamline the process. Knowledge is power. If you know what you can and can’t claim, you’ll not only be well and truly organised, you’ll be able to maximise your tax return. After all, it’s about paying less tax than you have to.
Being in the fitness industry means you have to stay fit. Make sure your books are in peak condition as well with these tips from The Income Tax Professionals.
It’s good news. The NSW government has recently cut taxes for small to medium-sized business by adjusting the threshold on payroll tax. Nearly 40,000 small businesses in NSW are now up to $8,175 better off per year following a second cut to payroll tax in 12 months.
Hairdressers can either work as employees or run their own business. Make sure you take advantage of these seven tax deduction write offs during tax time.
Running a business can keep you busy, but some sole traders do their bookkeeping well into the morning. Free up time with a professional bookkeeper. Read more.
Even though you might think that receiving an insurance payout or are claiming workers compensation is not an income, the ATO does regard it as such. These payments may impact your tax, but there are claims that you are entitled to make when you do declare these types of payouts. What do you need to know?