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
(business tax – 5 minute read) Hi Accounting fans! We’re back with part 2 of the NZ income tax article. In case you missed the first one, you can read all about personal income taxes right here! In the previous article we spoke more about personal income tax. Specifically, looking at the different income types
The dreaded T word: Tax. Whether you’re feeling the pinch of the current cost of living or not, paying less tax is always a bonus. Accountant and tax agent Sam answers a reader’s question on achievable tax-saving strategies to minimize the expense of one of life’s inevitable. Disclaimer: This article was first published on Pocketsmith’s
Kia ora Kiwi readers! We’re back with more tax tips. There tends to be quite a bit of confusion between business taxes and personal taxes when it comes to income tax. In today’s article we’re going to look at the differences and relationship between business and personal tax. Note that we’re only focusing on INCOME