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73% of professionals overpay taxes by paying taxes on their total income (revenue) instead of their actual profit.
73% of professionals overpay taxes by paying taxes on their total income (revenue) instead of their actual profit.
The good news?
The good news?
You can deduct common business expenses from your revenue to arrive at your taxable profit.
Try out our FREE Expense Tracking App
Ready to pay less in taxes? Schedule a meeting with us!
Here’s a list of typical expenses you can probably charge!
Rental expenses
Electricity
Network cost (Phone and Wifi)
Stationery and printing
Subscriptions and software
Professional memberships
Website cost
Miscellaneous (refreshments, sponsorships, etc.)
Consultancy payments for family members who assist with the delivery of work.
*Ensure the correct withholding tax is charged on these payments
Fuel and transport
Airfare and accommodation
Equipment purchase
Repairs and maintenance
Advertising
Business development
Legal service fees
Accounting service fees
Bank charges
Interest charges
For an estimated income of
LKR 800,000 per month, we believe you can save up to
LKR 1.6 million per year by taking advantage of these allowable expenses!
TESTIMONIALS
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