DEPRECIATE OR EXPENSE ASSETS: BOOKKEEPING BASICS

 Hi there,

I have been worried about the tax season every year ever since I became an entrepreneur. It is so much hassle to keep track of the purchase of every business asset and calculate the tax incurred on each item and then claiming deductions for them. I can never do it on my own and have to rely on my bookkeeper for it. He keeps me updated about the latest changes and he recently told me that the temporary full expensing will be extended until June 2023. Now, I need to decide whether I should depreciate or expense assets. If you need an answer to this, look at the article shared below. 

https://www.agibookkeeping.com.au/depreciate-or-expense-assets-bookkeeping-basics/



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