Accounting with Cryptocurrencies and Other Unique Situations: An Accounting Blog

2016

• How Can Self-Employed Persons Reduce the Amount of Tax They Pay?

  12 October 2016

  As a self-employed person, you'll need to spend time making sure that you save enough of your income to pay the taxman each year. Luckily enough, there are also several ways to legally reduce the amount of tax that you pay. Here are just four ways that self-employed people can reduce their tax bills. Contribute to Your Retirement Fund A superannuation is a way to save money towards your retirement. As a self-employed person, you will need to contribute to it yourself instead of having an employer fill it up.
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• Don't Ignore the Fact That It's Time You Hired an Accountant

  26 July 2016

  You are often legally allowed to prepare your own tax returns, either for yourself or for your business, and doing this on your own might save you the cost of hiring an accountant. However, hiring an accountant to handle your returns can also mean saving on the cost of overlooking certain deductions, and the possibility of penalties and fees you might face from mistakes you make on your returns. Unfortunately many people overlook signs that it's time they hired an accountant to prepare their returns; note a few of them here so you can ensure that you don't make this same mistake and always have your taxes prepared properly.
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