Cashies – the temptation is there to do a little bit extra for a little bit extra cash in your pocket. But DON’T, JUST DON’T! Cash jobs are very tempting but if you get caught (which is highly likely!) the penalties from IRD are absolutely not worth it. Do not do cash jobs! IRD has access to a massive amount …

At SMYD we are massive Xero fans. In fact, it’s all we use. But we don’t want to be the only Xero experts around here – we really want YOU to understand how to use it, and use it well.

Provisional Tax is something that we take seriously at SMYD Chartered Accountants – and we like to be proactive about it! We know how much it sucks to get an extra tax bill at the end of the year, so instead we review and adjust your provisional tax amounts as we go.

If it’s under $50 you don’t need to keep it. We can take where you have spent it from your bank statement as verification.

If it’s over $50, then technically you do.

What is the source of your new clients or sales? We reckon 99% of SMYD’s business comes from referrals. So here is a question for you – are you putting yourself in the best possible position for people to refer you?

Have you set your financials up correctly to best to reflect the value of your business?
All that hard work, effort, sacrifice, and pain that goes into these businesses. Surely, we want to be able to see what our potential net worth is because of that hard work?

Despite the typical reputation, we accountants are more than just boring, snoring tax agents – our job does have a sexy side to it! We look at how we can use our skills and experience to work with you guys on a much closer level to help you make more money.

A BIG question we get asked ALL the time is “Can I claim my childcare costs?”. Jason talks through why, unfortunately, it’s a NO from the IRD. Unfortunately, childcare costs are not deductible as a business expense as they’re not directly related to your income earning. A business expense needs to be directly attributed to the income you are deriving …

There is one report in Xero that as a business owner you should be looking at EVERY.SINGLE.MONTH! Do you know what it is? And do you know what it tells you? Our clients often say to us – I’ve made all this profit but why have I got no cash?​They look at their profit and loss statement and see they’ve …

The first thing that needs to happen is the business needs to own the vehicle. If you own the vehicle already, you need to transfer the ownership to the company or if you’re buying a new vehicle, the company needs to buy the vehicle. This means the company can pay for: Fuel WOF Registration Maintenance Claim depreciation on the vehicle. …