Discussions with your bank getting it right to avoid any misunderstandings. Anything you say to a bank can be written down and used in evidence against you. Not by the bank so much as the Tax Department. It is not confidential from the IRD. Always imagine an officer of the department is listening to your every word. You have no control over the notes your bank manager makes of your… Read more
Make sure you buy a car in the right name to ensure you maximise your tax position. A client bought a new car for his business. The business paid for the car but the finance arrangement was in his own name. The interest is not tax deductible on the money borrowed. While we can remedy the situation, it adds to our work and your costs. Make sure if you are… Read more
Rising interest on debt can be a curse when running a small business. However, there are some quick and easy policies you can start using to combat interest rate rises. Individually, small steps can add some value to a business, but when combined they can make significant differences. Think of your business like a car in development. Improved aerodynamics, fuel injection and weight loss might separately increase fuel economy, but… Read more