Posts Tagged ‘howto’
WHAT BUSINESS EXPENSES ARE TAX-DEDUCTIBLE?
What business expenses can you deduct in your income tax return? It depends on your business structure, but includes things such as:ACC leviesaccounting feesbank chargescontractor costsdepreciation (wear and tear)entertainment (be careful!)home office expenseslease or rental costslegal feesmotor vehicle expenses e.g. WOF, registration, repairs, insurance, FBTpurchases (for business purposes e.g. stock, materials)travel e.g. fuel, parking, business travelstationery, printing and office costs […]
Read MoreLOAN/ MORTGAGE OPTIONS COVID-19
It’s not really a “holiday”, but rather a “payment deferral.” How does it work? While you don’t have to make payments during the mortgage holiday, you still get charged interest. What’s that going to cost? Well, it could be significant.
Read MoreWHAT’S THE PROCESS FOR MY TAX RETURNS?
Here are the main steps involved in your tax return preparation
Read MorePROVISIONAL TAX CHANGES
PROVISIONAL TAX CHANGES From the 2018 income year (that is, 1 April 2017 onwards), the safe harbour threshold has been increased! Hooray, I hear you say. It’s gone from $50,000 to $60,000. It has also been extended to non-individual taxpayers e.g. companies. What does this mean? Use of Money Interest (UOMI) will only be payable…
Read MoreWHY YOU SHOULD (ALMOST) ALWAYS GET CHATTELS VALUED
Why is a chattels valuation necessary? Why you should always get chattels valued: In exploring the necessity of a chattels valuation, it’s crucial to delve into the intricacies of property assessment and taxation. While standard valuations typically assign a modest value to chattels, often ranging from $10,000 to $15,000, they frequently overlook numerous depreciable items…
Read MoreCOMMON QUESTIONS ABOUT YOUR TAX RETURNS
COMMON QUESTIONS ABOUT YOUR TAX RETURNS. Have you got tax return questions? Great! We try to answer them. Top questions first
Read MoreCHANGING SHARES IN LTCS: CONSIDERATIONS
Let’s say that the company owes the shareholders $150,000. This is tracked in the Shareholders Current Account, and is a liability (debt) of the LTC…
Read MoreHOW TO CHECK ON THE PROGRESS OF YOUR TAX RETURN PROCESSING AT IRD
Make sure the address in the bar at the top is https://myir.ird.govt.nz/tools/_/. This is to make sure you haven’t ended up at a fake website. There should also be a little padlock showing in the title bar at one end.
Read MoreWHAT IS TAX POOLING?
big corporates like the banks overpay their provisional tax. In the past, they would overpay it to IRD, and get a miserable interest rate. Companies like TMNZ came along
Read MoreHOW TO SHARE STUFF ONLINE
HOW TO SHARE STUFF ONLINE. How to share stuff e.g. files and documents, online and with Epsomtax.com group staff
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