Are you the type that goes off on a mental rant when you see a design crime? The ones that really get me wound up and physically itching are when there’s a jumbled mess of competing styles all mashed together and created on what was probably a ginormous design budget. In saying that, I must confess to posting a completely out of theme photo, of grouchy looking cat, on our accounting blog recently but after hours searching for the perfect Render I’d pretty much given up and was probably looking just about as peeved and foul tempered as that cat.
Anyway, I’m not here to to embarrass myself by talking naively about design to a bunch of expert creative’s but what I thought you’d appreciate hearing about are the accounting crimes that you might be committing without even knowing it. Unlike design crimes, ordinary people are regularly sent to prison for accounting slipups so in the interests of keeping you safe here’s seven simple accounting mistakes to steer well clear of:
Throwing away your business tax invoices and bank statements. Keep them for 7+ years.
Making up or guessing numbers in your Tax return or GST returns.
Getting behind and filing your returns late.
Hiding cash sales.
Claiming bills you don’t have tax invoices for.
Claiming personal things like haircuts, clothes or your daily takeaway coffee.
And finally, taking tax advice from your mates!
Wendy Simpson is an senior accountant with Boutique Financial. As well as a fully qualified accountant, Wendy is a keen accounting commentator and blogger. Boutique Financial have great experience helping creatives with advice and accounting to find out more visit them here.
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