We often have business owners approach us saying that they are working hard, doing all the right things but feel like they aren’t making any money. Their existing advisors keep telling them that they’re making a profit, but despite looking everywhere they can’t seem to find it. The real crunch comes at tax time when they have a tax bill but no cash to pay it.
Discover how cloud applications can benefit your business by giving you the information and data you need to make more accurate decisions.
As a business owner you have a number of responsibilities to various Government Organisations and also to the public. You are bound by laws from local, state and federal levels as well as organisational bodies. In this blog we will cover your main obligations to the Australian Taxation Office (ATO) and Australian Securities and Investment Commission (ASIC) for a business owner and specifically a Director of a company.
We outline the basics of different business structures such as company, trust and sole trader and explain the pros and cons of each.
Often when you start a business you take advice from friends and family about how to go about getting set up. We frequently find people come to us either not knowing where to go, or they have gone to the wrong people about the wrong things. It’s a minefield and can be overwhelming for many people getting started.
This is a topic we are asked about more and more as there is a move towards people working from home either for an employer or for themselves in a main or side business. Our guidance differs depending on if you own your own home or if you rent.
Most businesses stem from a passion, and many passions show themselves in our recreational and hobby activities. The lines begin to blur when we start making money from what we love, whether it be a full time or ‘spare time’ pursuit.
The methods for claiming your car expenses have changed in the last 12 months in an effort to ‘simplify’ the way deductions are made.
I came across an article last week by Kochie’s Business Builders on what you should ask your accountant once you’ve chosen the right one for you. It was great to read as these are the same things (among a few others) that we discuss and address with our clients. What’s our response?
Confused about Xero and think you need $50/mth to start? We’ve had quite a few small business owners tell us recently they can’t get started with Xero as they can’t afford $50/mth from their business yet, and they are probably right. But you don’t need $50/mth to get started. That’s what we love about Xero.
