21/05/2025
Navigating the complex world of taxes as a business owner can feel like wading through endless red tape! Here’s some basic information on what you can claim.
1️⃣ Home office expenses: Claim a portion of your rent/mortgage, utilities, and maintenance costs when your home serves as your business hub.
2️⃣ Vehicle expenses: Deduct mileage and actual costs like fuel, repairs, and insurance for business-related journeys.
3️⃣ Business supplies and equipment: Don't forget to deduct expenses for vital office supplies, software, and equipment.
4️⃣ Professional fees: Maximize your deductions by including fees paid to accountants, lawyers, and consultants for their invaluable services.
5️⃣ Advertising and marketing: Promote your business while saving money by deducting expenses for website development, social media ads, and print advertising. Keep detailed records and consult with a tax professional or check out the IRD website to ensure compliance.
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