What Types of Tax Receipts should you keep? When you own a small business, you want to get every possible deduction on your taxes. Without tax receipts, the maximum amount you can claim is $300. That’s why it’s important to keep a tax receipt for every expense, such as: Travel If you travel for work and are away from home overnight, you may be able to claim your travel expenses.… Read more
On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three… Read more