Accounting News and Articles
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As a small accounting firm keeping things simple is key, just like your tax. If you want to be kept in the loop and hear about any new articles we post click the link below. This is not an engagement of our services, you’re just letting us know that you want to read our latest thoughts on accounting and business-related topics.
When Inland Revenue comes knocking at your door
Believe it or not, it’s true. IRD actually has more power than the police!
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Airbnb Short-term Letting
Airbnb Short-term LettingWhilst the provision of residential accommodation in a dwelling is GST exempt, the letting of a property for short term holiday stays is a taxable activity for GST.
How is your business going? Here are some indicators to use to assess it.
Gross Profit On your Profit and Loss Statement, gross profit is the difference between revenue and the cost of goods sold (or services provided).
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Flow On Consequences of the Removal of Interest Deductibility
For many investors the impact of phased removal of interest deductibility is still sinking in. In this article we explore some of the consequences of the change that may not have been apparent at first glance.
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The Importance of ‘Reconciliation’
Reconciliations are a fundamental accounting process that will ensure your financial records are accurate and complete. But it is surprising how many businesses do not undertake them.
Privacy
PrivacyIn June last year there was a change in privacy legislation while we were all dealing with Covid. While no one likes legislation, ignorance is not a good excuse.
Structures
StructuresWith the new year comes the tradies off doing odd jobs, many flouting with liabilities they have no idea about the implications.
What You Need to be Aware of in 2021
Over Christmas, on two occasions we had clients sign contracts without really reading or understanding what they were signing and on both occasions. It meant that legally we could not act for them after the contracts were signed.
Use your Accountant for Advice
Use your Accountant for AdviceWe had an occasion where one of our clients came into the office quite distraught because he had just been given a new commercial lease agreement…
Planning For Christmas
Okay so now you have secured sufficient funding to carry you through the Christmas period, ask yourself the question, do I (or any staff) really need to come into the office over Christmas?