Welcome to the January edition of HTH Accountants’ monthly newsletter! We send this out every month with news for our clients and friends about financial news and events in Ireland. In this issue, as befits the new year, we’re looking at the basics of keeping your taxes in order. And whatever you need, we’re available to help on (01) 541 1446.
Do you still need a bookkeeper?
A recent study suggests that 96% of what bookkeepers currently do, will, in the not-too-distant future, become automated. It has been suggested by some that bookkeepers will soon become redundant. Actually, we don’t think that’s true, but let’s look at what is happening.
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Don’t you hate doing your books?
Every business owner hate bookkeeping and paperwork. Unfortunately it has to be done. And it has to be done in a prescribed format… otherwise the Tax Man will be on your back. It’s also difficult. That’s why there are bookkeeping exams. That’s why there are professional institutes like the Institute of Certified Bookkeepers. Because everyone hates bookkeeping, most people end up doing it in the evenings or weekends. A far better option is to employ a bookkeeper to get the job done properly. But that option is too expensive for most small businesses.
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What Can I Actually Write Off as a Business Expense?
Let’s keep it simple: If it’s wholly and exclusively for the business, there is a good chance you can write it off for tax purposes. But that doesn’t mean everything you buy while running a business is tax deductible. We get asked this question every week, so here’s a simple guide to what you can and can’t claim.
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5 Common Tax Mistakes We See Small Business Owners Make
If you’re self-employed or running a small business in Ireland, it’s easy to overlook a few things that can end up costing you, either in unnecessary tax or avoidable hassle. Here are five mistakes we see all the time, plus a simple way to stay clear of them.
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Feel free to forward this newsletter on to colleagues and contacts who might find it useful - this month’s may be very useful for someone starting out with a new company or business venture. They can also subscribe, if they want to get further issues. We’ll talk to you again in February!
