Bank Statement as Proof for Business Expense Deduction Reader asks: A self-employed person has acquired a phone on installment from a mobile service provider for business purposes. The monthly phone bill is issued in the husband’s name. In this case, can the self-employed person deduct these expenses as business-related?
Car as an Expense for Self-Employed A car may be one of the most popular expenses for self-employed person’s economic activity. Get all the essential information to correctly categorize car expenses as business expenditures!
Accounting system for the Latvian self-employed The accounting software should be chosen based on the type of record-keeping system you plan to use for tracking income and expenses. Make the right choice.
How safe is it to store documents only in electronic form? Reader asks: Currently, most company documents are stored electronically, including long-term documents, such as employment contracts, which must be stored for 90 years. How can a company be sure that the service provider will still be able to ensure access to these e-documents after 90 years? How to protect against their loss?
Can a self-employed person deduct these expenses? The activity of a self-employed person is unimaginable without expenses that support business development. The advantage of being self-employed is that these expenses can be attributed to economic activities, thereby reducing taxable income. Do you think you are deducting all possible expenses? We have compiled some of the most interesting questions related to various types of expenses and explain whether they can be attributed to economic activities and, if so, how to do it correctly.
28. October, 2024
