Don’t Overlook Common Expenses

02 Sep 2021

Although all businesses are different and the expenses incurred will vary depending on the nature of the business, it is important to make sure that you don't overlook any expenses for which a deduction could be claimed.

Common business expenses include:

• accountancy costs;
• advertising;
• motor expenses;
• travel expenses;
• insurance;
• stationery and postage;
• power and water;
• rent;
• staff costs;
• bank charges;
• telephone costs;
• internet charges;
• cost of goods for resale;
• packaging costs.

It is always our advice to really inspect these expenses; to truly figure out what is wasted outgoings and what is worth it.