How much does it cost to hire an accountant for a small business?

Even in your average small business (1-3 employees, less than $500k turnover) there will be a broad range of options for accounting and finance including getting specialise setup, tax structuring advice, finance systems and processes together with the everyday bookkeeping and accounting functions.

Is an accountant needed for a small business?

An accountant can offer comprehensive startup and ongoing small business advice, while making sure tax compliance is prepared and filed with the relevant authorities on time.

What is the role of an accountant in a small business?

Being a business owner can be a tough job, and it’s good to have a trusted advisor to lean on in times of complexity or uncertainty. An accountant will be able to help you navigate your business through these times, and help keep compliant with relevant tax authorities.

Xero is an integrated accounting platform that can complete all small business invoicing, receipts, bank transactions and reporting for the IRD. Being cloud based means your advisers can have access to your information in real time.

Is Xero Accounting any good?

Xero is a great tool for small businesses as it gives you real time access to the financial data of your business - information we couldn’t imagine being in business without.

Benefits of being in Business vs Employment

July 17, 2023 Simon Manawaiti

As a small business owner in New Zealand, you have a unique advantage when it comes to taxes. Owning a small business opens up a world of opportunities for tax savings and wealth creation. In this blog post, we will walk you through the key aspects of how tax works for small businesses in New Zealand, highlighting the benefits and strategies you can utilise to maximise your tax savings.

Paying Staff Reimbursements for Home Office use

June 8, 2023 Simon Manawaiti

Not all payments to staff need to be taxed, and can be treated as exempt income for the employee. For example employers can pay staff for using a home office space using either actual expenditure or through an exempt allowance. This blog also includes updated rates from 1 April 2023.

Tax Pooling: A Smart Solution for Late Income Tax Payments in New Zealand

May 29, 2023 Simon Manawaiti

Late income tax payments can lead to penalties, interest charges, and unnecessary stress for businesses and individuals in New Zealand. By utilizing tax pooling, Accountech Chartered Accountants and their clients can avoid these financial burdens and gain additional flexibility in managing their tax obligations. With TMNZ as a trusted intermediary, the process becomes even more efficient, providing peace of mind and saving both time and money. Choose tax pooling as a smart solution and let Accountech help you navigate the complexities of the New Zealand tax system.

Accounting Setup - is Xero the only option?

May 24, 2023 Simon Manawaiti

As a sole trader in New Zealand, finding the right accounting software is crucial for managing your finances efficiently. While Xero is a popular choice, there are several other alternatives worth considering. In this article, we'll explore the top Xero alternatives for sole traders in New Zealand, along with user reviews and information on popular invoicing apps.

Transitioning to AIM: Simplify Your Provisional Tax

May 17, 2023 Simon Manawaiti

If you are tired of the traditional approach to calculating and paying your provisional tax, it's time to explore an alternative method that aligns your tax obligations more accurately with your actual income.

When are Legal Fees deductible for Tax?

May 15, 2023 Simon Manawaiti

According to the Income Tax Act in New Zealand, legal fees can be deductible if they are incurred for the purpose of deriving income or are directly related to a taxpayer's business activities.

When is it Uneconomic to Use the FBT Method for Vehicles?

May 5, 2023 Simon Manawaiti

We explore when it becomes uneconomic to use the FBT method for motor vehicles owned by companies in New Zealand.

Working From Anywhere - are these costs deductible?

April 28, 2023 Simon Manawaiti

Contractors and business owners based in New Zealand who can work remotely could take advantage of similar WFA arrangements at travel resorts around the world by making work the predominant purpose of their trip.

Making the most of Expenses

April 27, 2023 Simon Manawaiti

It is important to claim these expenses and bring them into your business.

Travelling Overseas for some Business

April 20, 2023 Simon Manawaiti

We look at whether a trip overseas with some business activities can be claimed as a work expense.