Skip to main content
July 3, 2023
Question

What is the best way to account for the Small Business Technology Boost 20% tax deduction bonus in Quickbooks?

  • July 3, 2023
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

July 7, 2023

I’m keen to know this as well.

 

I have added a 'tag' to each expense that complies with the boost bonus ruling, so my accountant can run a report and see the relevant expenses to calculate at end-of-year tax time. It would still be nice to manually add the 20% additional deductible expense at my end. I checked the Xero community (ha) and their software can't do it and they recommend tagging expenses for the accountant to sort out. Keen to see if QB gurus have a recommended process.