Monthly Archives: February 2019

EMPLOYEES: TAX DEDUCTIONS

EMPLOYEES: TAX DEDUCTIONS You’re entitled to claim tax deductions for some expenses that are directly related to earning your income. The expenses must not be private, domestic or capital in nature. If the expense was both work-related and private, you can only claim a deduction for the work-related portion. You must have made the purchase […]

FINANCIAL DIFFICULTY

FINANCIAL DIFFICULTY If your business is in financial difficulty get proper accounting and legal advice, to increase the likelihood of business survival. Some warning signs of insolvency are: • Ongoing losses • Poor cash flow • Incomplete financial records • Increasing debt • Problems selling stock or collecting debts • Unrecoverable loans • Creditor’s unpaid […]