Do you know what to include on an invoice? When to add ‘retention’? What if you find a mistake in an invoice that you already gave away? When to issue a simplified invoice? Find answers to these and other questions in this post.
When you purchase a new item for your business you may be given a ticket as proof of payment. This is not valid to offset the expense against your tax. Learn what you should look for in a valid invoice for tax purposes and why this is important.
Some type of expenses fall in a grey area: those for which it is difficult to draw the line between business and personal use. What to do in this case?. Take your car and its petrol, for example. How to offset the petrol against tax? What if you buy a car?