A collection of 12 posts
Top 5 business expenses!
When starting out there are many costs to take into consideration. Here are our top 5! 1. Office Space: Rent, bills, maintenance, and all other manors of office upkeep are the single greatest cost when starting out. Finding office space is only the start. Managing the fit out, complying with
6 ways to reduce employee expense fraud!
1. Align Policies: If the company doesn't have an employee expense policy then how can the employee be held accountable. The policy should contain all forms of prohibited activity, that way there’s no miscommunication and both sides can be held accountable. 2. Education: Educate employees on the correct way
Are you accurately logging expense mileage?
In a previous job, I regularly worked at other offices. My role required me to travel most weeks and as a result, I was temporarily relocated to an office 65 miles from home. I was able to claim 45p per mile and 5p extra for any colleagues that also required
5 ways to manage your business mileage!
1. Pen and Paper: Outdated, time consuming and inaccurate however, much of the UK still logs business mileage for tax reimbursement manually. Remember, all UK mileage logs need to be kept for 5 years - that's a lot of trees! 2. Spreadsheet: A step up from pen and paper and
Tax Code for the Traveling Corporate Salesperson
Are you a traveling corporate salesperson? You know, someone who's constantly on the go. Flights and cars and hotels. You're an unsung hero, and you deserve a reward. Enter tax code policy. Not paying taxes isn’t the reward, paying LESS than you may have thought you had to is.
10 Countries That Let You Deduct Mileage Expenses
If you travel on a daily basis, you may be eligible for a hefty tax return on your travel expenses. Several countries around the world accommodate for tax-deduction of travel expenses for various purposes. Within each country, you will find clear regulations defining which expenses are deductible, who can deduct
2 Cases of Driving To and From Home That Are Tax-Deductible
In our previous post, we discussed the cases in which you can deduct your mileage expenses from your taxable income, using the IRS Mileage Rate. The IRS normally excludes home-work commute from "deductible mileage". However, there are two exceptions to this rule: 1. Home Office If your home is your