Home » 30 simple ways to reduce your tax bill » 1. Claim deductible expenses

1. Claim deductible expenses

As simple as this sounds, a lot of clients still fail to claim all of the deductions they are entitled to.
This could be for a number of reason but typically includes;
1. Not keeping all your receipts
2. Receipts that fade (more on that shortly)
3. Not knowing what you can (and can’t) claim
As a business owner you should have a basic understanding of which expenses you can claim within your business. If you are not sure ask your accountant… that’s what they are there for.

We recommend…

that you have a separate credit card (or debit card) specifically for your business. More importantly, be very diligent which card you use when making business purchases.

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