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Keep this important information on hand when completing your company tax return

by , 10 October 2014
Completing your company tax return can be complicated. Luckily, we're here to help and tell you what you need to know to get it done quickly and effectively.

The most important thing you need to get your company's tax return done is the relevant documents.

These will give the information you need for your tax return without having to go on a record hunt.

Always ensure you have this information on hand so you can get your tax return done in no time...

 

Do your tax return in no time by keeping this information on hand

 
The first and most important piece of information you need to do your tax return is a record of all the deductions you want to claim.
 
If you have this information on hand when you start your tax return, you won't need to sift through hundreds of documents to find the information you need.
 
The easiest way to ensure you always have this information is to create a spreadsheet. Every time you incur an expense you want to claim as a deduction, you simply add it into the spreadsheet.
 
The spreadsheet should have details about the expenses (was it for repairs, depreciations or any of type of deductions). There are 47 types of deductions and allowances you can claim so ensure you give it the right description. You must also include the date and amount of expense.
 
You also need the following information on hand.
 
*********** Product endorsement  ************
 
Do you want to save the trouble of writing and developing you own tax forms, templates and checklists? 
 
Click here for printable documents standard with your Digital Practical Tax Handbook.
 
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Keep supporting documents on hand so you don't have to dig for them when you complete your tax return

 
If you keep your supporting documents on hand, you can easily complete your tax return. After all, if you can enter your claim and supporting documents without needing to look for the information, you'll save yourself a lot of time.
 
For more advice and useful tips to manage your company taxes, check out the Practical Tax Loose Leaf Service. It has everything you need to turn you into a tax pro. 
 


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