[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]If you own a tradie business, you\u2019ll know that the end of the financial year is coming up quick! There are a few things you\u2019ll need to have sorted before 31 March, so here are some tips to help you get prepped.<\/span><\/p>\n

Check if you\u2019ve got bad debt to write off<\/strong><\/p>\n

Got clients who haven\u2019t paid you in what seems like forever? You can actually write these payments off as bad debt and potentially receive a tax deduction. You\u2019ll need to make sure (and have evidence) that you\u2019ve made every effort to get them to pay up, including any legal action you might have taken.\u00a0<\/span><\/p>\n

Know what you can and can\u2019t claim as an expense<\/strong><\/p>\n

It\u2019s a good idea to be across everything you can claim as an expense in your business. There are some expenses people tend to forget they can claim, but there are also some items that you can\u2019t claim as well. Check out our <\/span>handy list of things you can claim<\/span><\/a>, and then check in with some accounting pros to get it all sorted for you.<\/span><\/p>\n

Get the professionals involved<\/strong><\/p>\n

Which brings us to our next point – get some professional help. As a business owner, you\u2019ll know quite a bit about the running of a business, but in order to get the most out of EOFY and make sure you\u2019ve dotted all the i\u2019s and crossed all the t\u2019s, get an accountant to sort it all out for you (get in touch with our mates over at <\/span>Haven Accounting<\/span><\/a>). The less time spent on headache-inducing admin the better, right?<\/span><\/p>\n

Check out your supplies<\/strong><\/p>\n

If you\u2019ve got a whole bunch of supplies lying around, it might pay to give them a good once-over. If they\u2019re unusable, damaged, or the market value has decreased, you might be able to write them off. This also counts if anything has gone missing or been stolen – hopefully you\u2019ve been keeping track of all of your stock and supplies so you know just what you have on hand.<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row el_id=”related-post”][vc_column][vc_custom_heading text=”Related articles” font_container=”tag:h2|text_align:center|color:%2313143e” use_theme_fonts=”yes” el_class=”title my-5″][vc_basic_grid post_type=”post” max_items=”4″ element_width=”3″ orderby=”rand” item=”918″ grid_id=”vc_gid:1614035051416-0eec7b88-bb71-1″ el_class=”related-posts mx-auto mt-3″][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]If you own a tradie business, you\u2019ll know that the end of the financial year is coming up quick! There are a few things you\u2019ll need to have sorted before 31 March, so here are some tips to help you get prepped. Check if you\u2019ve got bad debt to write off Got clients who […]<\/p>\n","protected":false},"author":1,"featured_media":4261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-4259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"\n