Tax Deductions for Accountants

Average weekly pay: $1,400
Employment size: 188,100
Future growth: Strong

Skill level Bachelor Degree or Higher

Accountants provide services relating to the preparation of financial statements, taxation, auditing, insolvency, budgeting, financial planning, and business advisory.

Tasks include:

Preparing financial statements, budgets, and reports.
Preparation of BAS returns, tax returns, and other tax-related forms.
Providing advice on business structures, business planning, tax planning, cash flow management, and profit improvement.
Typical tax deductions include:

Cost of travel related to visiting clients and attending training courses.
Briefcases, handbag, man-bag or work bags.
Professional seminars, courses, conferences and workshops.
Reference books, technical journals and trade magazines related to your work as an accountant.
Computer depreciation, interest and repairs.
Phone calls and internet (Work portion only).
Self-education courses related to your current job.
Home office heating, cooling, lighting and cleaning costs
Professional memberships – e.g. CPA, IPA, CA, etc.
Non-deductible expenses:

Cost of business lunches, and attendance at sporting events, gala or social nights, concerts or other similar types of functions or events. This is the case even if you discuss business matters.

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