COMMON TAX ITEMS BUSINESS OWNERS FORGET
- • Sale of assets, especially motor vehicles
- • Purchase of assets, especially motor vehicles
- • No stocktake was done (for those accounting for stock)
- • Bad debts not listed
- • Expenses purchased with cash not listed
- • Expenses purchased with credit cards not listed
- • Loan interest expenses not made available
- • Shares sold not listed
- • Interest earned not declared
- • Full contractor details and payments made not provided
- • Motor Vehicle logbooks not kept
- • Travel expenses not itemised and no receipts kept
- • Debtors and creditors not listed
Make sure you can substantiate ALL of your tax deduction claims.
Please contact me if you need assistance.