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Accounting tips for all of you savvy business people
What Are KPIs and How Can They Help Your Business Grow?
Key Performance Indicators (KPIs) are essential for tracking business performance and ensuring long-term success. Whether you run a professional services firm, a retail store, a hospitality business, or a creative agency, the right KPIs provide clarity on what’s working and where improvements are needed.
Kiwisaver for business owners
As a small business owner, it’s easy to put retirement savings on the back burner while focusing on running your business. However, contributing to KiwiSaver is a simple and effective way to build long-term wealth. Unlike salaried employees, who have contributions automatically deducted from their wages, self-employed individuals and business owners need to take proactive steps to contribute.
Saving for tax as a business owner
As a business owner, managing cash flow wisely is critical—not just for growth and stability but also for ensuring you're always prepared for tax time. Unlike employees who have tax deducted automatically from their paychecks, business owners must proactively set aside tax funds. The key? Knowing exactly how much to save and consistently putting it aside so you’re never caught off guard by a hefty tax bill.
Drawings vs. Wages: What’s the Best Approach for Business Owners?
As a business owner, choosing how to pay yourself is a crucial decision. Should you take informal drawings from your business’s profits, or opt for a formal wage processed through PAYE? Each method has its own set of benefits and considerations. In this post, we break down the pros and cons of both approaches to help you make a well-informed decision.
How to Add Your Company IRD Accounts to Your Personal MyIR Login
Not sure how to see your companies IRD accounts? We break down the steps to get MyIR access to your company in a simple and easy to read format.
Tax Deductible Clothing
Not sure what clothing or uniforms can be claimed as a business expense? We’ve detailed what you can and can’t claim in our latest post!
Fringe Benefit Tax Explained
Not sure what the fringe benefit reimbursement in your financials stands for, or if the benefits you provide your team need to be taxed? In this blog we cover everything you need to know around FBT - aka Fringe Benefit Tax.
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