It’s now December 2020 and Christmas is here, are you claiming all your business expenses?
Probably the last thing you would be thinking about is claiming your business expenses at this time of year. But only another 6 months’ time is EOFY, so we are mid-way and it’s a great time for businesses to go through what you are claiming as a business expense.
The ATO has found that ‘around 90% of small businesses are using a registered bookkeeper/tax professional to help them with their income tax obligations. That is music to my ears as it is important for Bookkeepers like myself to make sure businesses get their tax right.
Come time to do your tax return, are you claiming all of your business expenses?
Those businesses that keep good records and invest in a good bookkeeper will be less stressed when it comes to tax time in 6 months’ time.
Enlist a professional like myself to hep you with your books and uncover more to claim as businesses expenses.
Most people know that general office stationery, cost of renting your office or business space are some common expenses that can be deducted. But here are a few more that you may not know
– Cost of running your website, including maintenance, updates, service provider fees
– Marketing and promotional activities
– Tender fees, bet you didn’t know that, (even though that didn’t have a successful outcome)
– PR related expenses
– Parking related fees
Just to name a few.
Then if you operate and run a car for your business, you are also entitled to receive deductions.
If your business operates under a company or a trust there are additional motor vehicle claims as well.
But a few you can claim ie
– Registration
– Oil & Fuel
– Depreciation
– Interest on motor vehicle loans
Then there is repairs an maintenance on business machinery, tools, travel expenses for meals, parking, road tolls, fuel etc the list goes on and if you operate from home like many are now doing since COVID, you have home office cleaning expenses, percentage of phone and internet, stationery, home office equipment.
Give me a call, let me help you, so in six months’ time you won’t be stressed.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
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We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
