Apart from a few exceptions any costs you incur to run the business will be tax deductible. For example if you decide a BMW is the type of car you need to run your business, the IR (Inland Revenue) cannot insist you buy a 2nd hand ute. Some costs like insurance can be a little […]
Chapter 1: So, why are you in business? By Mal Warwick and Ben Cohen Excerpted from Values‐Driven Business: How to Change the World, Make Money, and Have Fun. Berrett‐ Koehler Publishers, 2006. Copyright © 2006 by Mal Warwick and Ben Cohen. All rights reserved. Living a life of purpose and fulfillment Perhaps you run a business […]
Successful marathon runners will tell you it is far easier to conquer the 42.2k’s if you break the race down into smaller segments. Running a business is much the same. This is particularly the case if you’re thinking of preparing a business plan for your business. A good suggestion is to break the plan down […]
A senior citizen lived all alone. He wanted to plant his annual tomato garden, but it was very difficult for him, as the ground was hard from a very dry season. His only son, Jack, who used to help him, was in prison. The elderly gentleman wrote a letter to his son and described his […]
All business owners know time is money. Saving time means not giving away hard earned profits. The following three strategies have been successfully deployed by a number of business owners to save time (money) and it is a privilege to share them with you. Make sure your Accountant is more than a Bookkeeper: Your accountant […]
Here is a quick summary of what you can claim when running a business, not a hobby. If your intention is to make a profit then the activity is a business and will get caught for tax purposes, but take expert tax advice if in doubt. Accountancy and Other Business Advisory Services – these are […]
Another Professional Trustee in Court Budget 2013 “Mean tax” a stupid tax! In keeping with recent trends Budget 2013 contained little in the way of tax measures. So much so that we did not see the need for our traditional Budget News Flash clogging your Inbox. The changes announced were: immediate deductibility for costs […]