Bookkeeping is an extremely important function of your business's financial health. However, some people overlook this fact and their business can suffer because of it. You want to have a professional and knowledgeable bookkeeping accountant in Sydney or Parramatta to ensure your business's financial health year-round. Read on to find out our top four reasons why it's vital to have bookkeeping services for your business.
Many people donate because it makes them feel good to do so, but this can lead to complications when you lodge your taxes. The ATO has very strict guidelines in place concerning what is and what isn't a tax deductible donation or gift.
Working from a home office can add another complicated layer to your annual taxes. You want to ensure that you don't miss any important deductions when you go to lodge your taxes, and this is where an income tax professional at EtaxPlus comes in. They'll help you lodge your taxes correctly, and they'll ensure you won't miss another home office expense ever again.
As a business owner, you can claim deductions that are a direct expense you incurred while running your business every year. To make sure you get the maximum tax return possible, you should call the professional tax accountant. They will ensure you get all of the possible deductions to reduce your taxable income. This is important because the ATO calculates your taxable income through this formula:
Assessable income (income subject to tax) – tax deductions = your taxable income (the amount you pay tax on).