As a small business owner, it’s easy to put retirement savings on the back burner while focusing on running your business. However, contributing to KiwiSaver is a simple and effective way to build long-term wealth. Unlike salaried employees, who have contributions automatically deducted from their wages, self-employed individuals and business owners need to take proactive steps to contribute.

As a business owner, managing cash flow wisely is critical—not just for growth and stability but also for ensuring you're always prepared for tax time. Unlike employees who have tax deducted automatically from their paychecks, business owners must proactively set aside tax funds. The key? Knowing exactly how much to save and consistently putting it aside so you’re never caught off guard by a hefty tax bill.

As a business owner, choosing how to pay yourself is a crucial decision. Should you take informal drawings from your business’s profits, or opt for a formal wage processed through PAYE? Each method has its own set of benefits and considerations. In this post, we break down the pros and cons of both approaches to help you make a well-informed decision.

Closing a business is a significant decision that comes with financial and administrative obligations. Whether you’re winding up a company voluntarily or due to financial difficulties, understanding the costs involved can help you plan effectively. This article covers the tax implications for companies with retained earnings and the process of winding up a business in New Zealand.

Not sure how to see your companies IRD accounts? We break down the steps to get MyIR access to your company in a simple and easy to read format.

Tax pooling is an effective way for New Zealand businesses, especially small businesses and startups, to manage their tax obligations more efficiently. It is particularly useful for those with fluctuating income, seasonal cash flow, or unexpected tax bills. Tax pooling provides flexibility, reduces the risk of penalties and interest, and can significantly ease cash flow pressures. We work with one of the leading tax pooling intermediaries in New Zealand - Tax Traders, offering businesses a smarter approach to handling tax payments.

Our favourite Christmas treats for 2024

The title says it all..

Finding your home office information each year can be frustrating, so a lot of our clients use Prosaic to make it easy! Check out this blog to learn more about Prosaic and if it could be right for you.