(AI Accounting – 5 minute read) Admittedly, we’re all riding the AI Hype-train now, especially since Generative AI burst onto the scene in late 2022. If you say AI, chances are that you’re thinking of ChatGPT, Microsoft’s CoPilot or even Google’s Bard. But other forms of AI, notably machine learning and predictive AI, have been
(First year business tax – 5 minute read) Did you just start your first business? Congratulations! Starting a new company or self-employed venture is always daunting. You’ll be so busy working out on your products, honing your unique selling point and setting up your systems. Tax is the last thing on your mind. ‘I’ll deal
Clients like to ask me this question: ‘So if I buy a car for the business, I can claim the entire $40,000 that I spent on it as an expense right?’ WRONG. I’m sorry my dear client, but you will have to depreciate the amount over the fixed asset’s useful life as it is a
(profit and cash – 5 minute read) Hey there accounting fans! We’ve written about how cash is king in the past. But I often get lots of clients still confused between cash and profit. So let’s settle this once and for all. Here’s the definitive article on the difference between profit and cash. Definition of