MARY JANE ACCOUNTANTS

There are number of different strategies adopted by businesses to maximize their profits while concentrating on minimizing business expenses. From all these different strategies, one important way is to plan all the business expenses in such a way that you minimize your tax liability which ultimately results in higher profits... Tax deductions are the amount of expenses incurred as part of your business and which are allowed to claim as deduction from your taxable income. So it is very important to plan all the business expenses according to applicable rules and regulations otherwise you cannot get any benefits from these expenses even if they are part of your business operations... The travel and vehicle expenses incurred during the course of business operations are claimable, but there should be a proper record for all the related expenses. For example, if a company uses its own vehicles for traveling and transportation, then all the maintenance and fuel expenses are allowed to..