This article covers information on what you need to know in order to get ahead of your self-employed financial obligations such as taxes, forms, deadlines, and more.
For most self-employed contractors and freelancers, the end of the financial year can be a stressful and confusing time.
There are lots of deadlines to keep track of, each one coming without any formal announcement or particularly helpful guideline. There are countless forms to fill out, each with an obscure codename – IR3, IR10, IR3R.
How do you know what tax rate you’re on? How do you calculate how much tax to pay? What tax forms do you need to fill out, and by when? The checklist is extensive, the tasks can be complicated. You might just want to outsource all of your obligations to someone else, and you’re not alone.
Business Expenses
Throughout the year, you might have accumulated handfuls of expenses, all related to your field of business, which you can use to claim the tax back. Any expenses you claim will reduce the amount of tax you’ll have to pay.
We can sort through your expense receipts and identify which expenses can be claimed. You should ensure well in advance of the 31st of March, that your business receipts are collated in whichever system you use to manage them, so this can be filed easily. Expense receipts also must be kept for seven years according to the IRD in security for an audit.
Why Claim Expenses?
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