Thursday, 16 Feb 2017
I read an article recently by Choice Financial Advice that had a great story about an old Russian couple who moved to Australia years ago, worked their way up again having to start from practically nothing and never looked back.
Their success really is their own doing, and it’s down to hard work and determination but not just that it’s about educating yourselves on the imperative rules that a business owner should be aware of; because by knowing all their is to know you open up the possibilities of whats capable, creative ways to earn money, save on expenses and even thrive during hard times.
A huge part of any successful business is organizing your finances in the most efficient way possible to reduce costs you can afford to and enjoy the benefits of saving when it comes to necessary business expenses.
It’s important for business owners to really educate themselves about the ins and outs that come about when thinking about traveling and general business related expenditure, you need to know what tax exemptions are possible that you can utilize.
So to what extent can you write off an expense as tax deductible? Well it’s not so cut and dry theres the obvious scenario i.e. a travel expense to see an existing client of yours purely for a work related visit, but what flying off to see a potential clientele to be? Or a conference that will better help you run your business and handle you staff, but isn’t necessarily related to your field of business. How can you prove what is justified or not?
For more details, read the article here:
http://www.choicefinancialadvice.com.au/2017/01/business-owners-deductible-overseas-interstate-travel/
