Perhaps you’ve turned a spare bedroom into an office. Or, you could be storing stock in a shed you’ve got out the back. If you’re doing either of these, it’s likely that some of your household costs are overlapping with operational business costs.
The costs directly related to producing income for your business - which may include rent, mortgage interest, electricity, rates, insurance, and telecommunication bills - can all be recorded as business expenses. However, this all depends on you setting things up the right way.
If you're a Beany client, then don't worry, we do all this for you at the end of the year!
