Tag: new zealand accountant
What is Profit and Loss?
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 income statement or statement of earnings....
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...
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...