If you're a UK employee or self-employed person who uses your personal vehicle for business purposes, you may be able to claim mileage expenses on your tax return. However, it's important to understand the guidelines and requirements set by HM Revenue & Customs (HMRC) to avoid mistakes and potential penalties. Keep
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
Odds are that if you’re running a company that’s scaling rapidly, you’ll likely experience growing pains in some form or fashion. You know, like figuring out how to secure more office space. Writing HR processes. Setting onboarding expectations and offering better training opportunities for new team members.
You may be able to deduct the following miscellaneous expenses, if they were incurred in the normal course of carrying out your responsibilities as an employee: * Business bad debt of an employee. * Business liability insurance premiums. * Damages paid to a former employer for breach of an employment contract. * Depreciation on
First in a Series to help entrepreneurs, startups, and new business owners understand their financial reports. For most startups, entrepreneurs and new business owners, there is often a mystique surrounding the company’s accounting and finances. While accounting can be complex, the fundamentals of bookkeeping and financial reports can be
Did you know that business travel is not the only type of deduction you can submit to the IRS? Trips made for charitable or medical purposes count too! Charity-related deductions Deducting mileage expenses relating to charitable activities can be handled through the Standard Charity Mileage Rate, or by deducting the
Business travelers in the USA have two possibilities for deducting expenses. Both methods involve keeping accurate records, but one may be superior to the other based on your situation. These methods are the Actual Expense and Standard Mileage Rate methods. The Actual Expense Method This method involves the recording of