What is Profit and Loss?

What is Profit and Loss?

[et_pb_section admin_label="section"] [et_pb_row admin_label="row"] [et_pb_column type="4_4"][et_pb_text admin_label="Text"]When you’re in control of your profit and loss (P&L), you have a tighter hold on the reins of your profitability.   What is Profit and Loss? Your Profit and Loss statement is commonly called your ‘P&L’. It’s also sometimes referred to as your...

17/11/2023
find out more
Business Acquisition Expenses – Deductions Allowed

Business Acquisition Expenses – Deductions Allowed

Businesses often incur expenses when acquiring business assets, even if the acquisition is abandoned and does not proceed. A recent review has occurred on the deductibility of these costs. In the past, an expense relating to the purchase of an asset that wasn’t successful could not be claimed as an...

04/08/2021
find out more
I Run a Motel/Boarding House – What Can I Claim With Tax?

I Run a Motel/Boarding House – What Can I Claim With Tax?

I run a Motel/Boarding House - what can I claim? Inland Revenue have released an exposure draft on the deductibility of expenses incurred by hotels, motels and boarding houses. The release focuses on these businesses where the proprietor lives on-site. In short, the release clarifies how to account for private...

30/06/2021
find out more
Self-Employed? Get the Full KiwiSaver Contribution

Self-Employed? Get the Full KiwiSaver Contribution

If you’re self-employed, you’re in charge of your KiwiSaver contributions. KiwiSaver is not automatically deducted from your earnings if you are self-employed. You will need to decide how much you want to commit to your retirement fund, if anything, and make these contributions manually each year. The contribution payments can...

09/06/2021
find out more