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Deductible Expenses
You can claim a wide range of the expenses incurred as a result of operating your business provided you keep sufficient records during the year.
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business.
Some business-related entertainment expenses might look as though they are only 50% deductible, but specific rules mean you may be able to claim 100% of the expense.
TIME is the one resource you can never get back and therefore is the most valuable. It may be taking less time managing the tax compliance on your business or additional time to spend in retirement by reaching your goals sooner.
XO Accounting has office throughout Australia and New Zealand where we services clients from across the globe.
At XO Accounting our focus is on you the client and providing you the freedom to choose. What does that mean, you may ask? Well it means exactly that, the answer will be different to each and every client. It could mean how you want to grow your business, how you want to retire, what type of lifestyle do you want to live now and into the future and importantly what assistance do you need in making it happen.
