Anyone who has had to fill in a tax return knows that if you don’t have everything in order, you’re going to be in for a very difficult process of trying to find receipts, remembering where your information is, and trying to recall exactly what happened over the past year. With SARS recently clamping down on estimated entries, and changing their evaluations to make it necessary to be as precise as possible in order to avoid paying penalties, the worst thing you can do when it comes to your tax return is to leave out any information, or worse yet, misrepresent it.
There are, however, alternative ways that will allow you to keep your information in order, not only allowing you to keep it close at hand for when you need to collect it for your return, but some will even help you out by arranging and keeping track of the information for you!
When it comes to vehicle and travel allowances, which are among the most common tax deductions, but they are also the most difficult to stay on top of if you don’t know what you’re doing from the beginning. If you receive a travel or vehicle allowance, you are required to keep a detailed log of all your trips in your particular vehicle, including personal and business related trips. This means that every time you get into your car, you will need to keep track of how far you travel, what the trip is for, and where you’re going. This seems like a lot of work, and it really is, unless you get into a routine of doing it on a daily basis. However, there are products on the market that will allow you to skip this entirely tedious task, and will not only be a time saver, but will likely be more accurate and detailed than you can be (even on your best day!).
The Little Logbook GPS trip logger allows you to take to the road without manually tracking your trip. Simply keep the logger in your car, keep it powered on using the USB connector, and your entire trip will be tracked via advanced GPS technology. You will be able to review the data on your computer, and even add details such as the names of the places you visit most often, the reasons for your visit, all of which will make it easier for you once tax season comes around.
With the Little Logbook, you no longer have to worry about remembering where you’ve been, or even where your staff have been (since it is also used very effectively by fleet managers to keep track of their drivers’activities). Simply plug it in and you will never miss a trip again. Missing trip information or looking for the most efficient route for your drivers to take to their destinations? All of this can be drawn from the information collected automatically by the Little Logbook device, so everything you have to worry about when driving is taken care of for you. All you need to do is drive. With GPS loggers, doing your taxes has become just that much easier, and by using them you will probably find yourself saving much needed time and money.
For more information on saving on tax please visit our website at Little LogBook
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