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Year End Tips & Tax Update 2023

The end of the 2023 financial year is almost here! Here's a few things you should consider.Write off any bad debtsTo claim a deduction for a bad debt in the 2023 tax year it must actually be written off before 31 March 2023. Take some time and review your Accounts Receivables list. Any that are not recoverable can be written off to reduce profit – you don’t want to pay tax on income that you will not be receiving. If you’re not sure how to do this, provide me with the debtor and invoi...

COVID 19 - Self-Isolating & Government Support

With Omicron numbers predicted to rise over the coming weeks and months it is likely more people will be required to self-isolate.So we have put together this summary to assist employers and self-employed people with managing self-isolation in the workforce and outline what government assistance is available....

GST Explained

The New Zealand government gets most of its revenue from taxes on: individual incomebusiness incomegoods and services This article gives an overview of how GST (goods and services tax) works in New Zealand....

Covid 19 Financial Support for Businesses

Unfortunately, once again we find ourselves back in level 4 lockdown with the latest Covid 19 outbreak. Here is a summary of the government assistance that is available to businesses and self employed:...

Income Tax Explained

The New Zealand government gets most of its revenue from taxes on: individual incomebusiness incomegoods and services This article gives an overview of how income tax works for individuals and businesses.  You can also learn more about GST in our article GST Explained here....

US Tax Obligations for New Zealand Amazon Sellers

US Tax For New Zealand Amazon Sellers A common question we get asked by New Zealand based businesses wanting to sell into the US on Amazon is what are my US tax obligations? The article below outlines the tax obligations a New Zealand Amazon seller may face when selling on Amazon US / North America. What types of taxes are businesses selling into the US on Amazon may be required to pay? There are 3 types of taxes overseas based Amazon sellers may face in the US: Federal Income TaxState Income Ta...

How to integrate Amazon Seller Central and Xero

Did you know there are several apps you can use to sync Amazon with Xero to get a better snapshot of your revenue, profit, and cash flow numbers?  This can also help you streamline your bookkeeping and accounting as you grow your business....

What is the best way to do Amazon Bookkeeping?

Amazon is one of the most popular choices for starting a new business. So much so, that some 100,000+ new Amazon businesses open their doors each year. Of course, not all of those businesses survive - one of the primary reasons is poor amazon bookkeeping and accounting. Properly managing income, expenses, cash flow, and other vital financial statistics over the long-term will make or break a business.The good news is that you don’t necessarily need to be an accounting expert just to be in busi...

Understanding Amazon Seller Fees

Whether you are just starting or scaling your Amazon product line, you should have a clear understanding of the relevant Amazon Seller Fees. This information is crucial for making important business decisions. Fees depend on the kind of product you plan to sell on Amazon. In addition to product-based fees, you also should take a look at variable costs. This can get quite tricky. For example, if you are focusing just on fixed costs, your variable costs might eat into your profit margin....