If you are a small business owner, have you got all your records, paperwork and receipts ready for tax time?  Are you preparing your tax return yourself or will you be using an accountant?  These are some things you will need to start preparing.  Do you know what you can claim as tax deductions and business expenses?  There are a number of deductions that you as a small business owner maybe eligible to claim.

It is crucial that you save all receipts, invoices and paperwork for any business related purchase you have made throughout the year.  You will need records for any business expense you are going to claim as a deduction at tax time, as you need to have proof of your purchase, how much it cost and how you paid for it.  It  is essential as a small business owner and your responsibility to keep up to date and accurate records all year round and not leave everything until tax time.

For small business resources and to find out what types of expenses you maybe able to claim at tax time you can follow the links below:

Australian Taxation Office - Tax Basics For Small Business

Australian Taxation Office – Income tax and deductions for small business

USA IRS – Small Business and Self-Employed Tax Center

USA IRS – Small Business Business Expenses

UK Business Link – Tax Guides & Information

About the Author

Kellie Simon is a Full Time Internet Marketer, who also provides support to Online Business. Kellie loves sharing her knowledge to encourage and assist others to get started in their online business. Visit Kellie’s Blog to get her free report revealing the top 8 methods you can use to get started online and making money today. Go To Kellie’s Blog – http://www.kelliesimon.com.au

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