Why your drawings are not what you've earned this year
September 10, 2020
“I pay tax on my drawings, right?”
“I don’t have to pay any tax because I’ve only taken drawings”
“Isn’t drawings the same as a salary?”
Drawings is one of the most confusing areas for business owners and it’s not surprising. Google “What are drawings...
What to do with bad debts
June 24, 2020
If you’ve been chasing unpaid invoices and its looking highly unlikely that you will ever receive payment then perhaps it’s time to consider whether you should write it off as a bad debt.
Under normal circumstances, you have to physically record the invoice as a bad debt...
How to pay yourself as a business owner
June 17, 2020
As a business owner, you’re usually the last to get paid. Simon Sinek's book, Leaders Eat Last is a fantastic book on leadership but paying yourself the “left-overs” isn’t ideal especially given the blood, sweat and tears you pour into your business.
So how much shou...
