Travel v Entertainment Expenses for the Small Business Owner

Tax time is a very stressful time for a great majority of people. Small business owners can be especially nervous. “What form do I use? Is this the right attachment? What is a business expense, and what isn’t? What type of expense is this one? Can I prove if necessary? Is this fully deductible as a legitimate business expense, or can I claim only a portion of it?” Boil all those common questions down to the core issue that will prove or disprove legitimacy and type, and the battle is almost won. The most common mistakes small business owners make, … Read more at 2009 Tax.

Tips For Small Business Owners

For many sole traders or small businesses it can be difficult to find the time to maintain all paperwork on a regular basis, meaning a large amount of admin is left until it is absolutely necessary to sort out.

If this sounds like you, then you will need to make some changes to the way you work because the Inland Revenue  is set to investigate two million small businesses – slapping many with big fines if records have not been kept in order. Here are 5 tips to help your business in 2012…

1) Get organised, get in a routine Read more at 2009 Tax.