As a small-business owner of long standing, you should be rightly proud of your achievements. You’ve built up this organisation from scratch and have been able to retain customers over the long term, and you may have a certain amount of intellectual property associated with your efforts as well. While you may be earning a reasonable amount each year as you continue to operate, you may be starting to think about the future. Read More»
Do you like the idea of being an independent business owner, but are not sure if you want to start the entire process from scratch? In other words, do you want to take advantage of other people’s experience (and mistakes) so that you get a head start in your endeavours? If so, then you will need to look at businesses that are for sale as an ongoing concern and satisfy yourself that they will be the right choice for you. Read More»
Sometimes running a small business can feel like spinning plates, especially if you’re responsible for many different areas. It’s therefore not surprising that filing your tax return through your tax accountant is often left to the last minute. This is not a good strategy as it can leave you open to fines for late payment if you have to amend the return or provide additional documentation that was missing with your first submission. Read More»
Keeping track of the books for your small business might seem like a nuisance, but it is required for tax related purposes. It is possible to save time and money as a small business owner if you know what accounting strategies are most effective. This means that if you want your small business to be in good standing with Australian Taxation Office, there are some accounting tips that you can adopt to simplify the process and also ensure that you have adequate accounting records. Read More»
If you run a small business, it is highly recommended that you hire an accountant. Not only can they help you keep your books and prepare your taxes, but they can also help you make business finance decisions. Here are some things to look for when you start interviewing candidates to be your new accountant.
Education and Certification
The first thing to look at is what type of education the candidate has received. Read More»
It is doubtful the Australian Taxation Office had Halloween in mind when they originally set October 31 as the income tax return lodgement deadline. However, the fact remains that the clock is ticking for you to get your return in on time. As someone who is not ready to file before the deadline, this can be a very stressful time for you. So when you’re wondering what to do, here are two paths that you can follow in the days ahead. Read More»
As a small business owner, you have a lot of things to think about to make your business successful. With marketing, filing the right licenses, and doing the work your business is supposed to do, it’s easy to forget about your finances. If you’re new to being a small business owner, it’s possible you don’t know what to do to handle your finances properly. A solution to this might be to hire an accountant for your business. Read More»
It’s typically a good idea for a person to think about saving for retirement and how to make their money work for them when they’re young and first start to work, but the real truth is that many people don’t think about financial planning until many years later, often not until they’re in their 40s. This may be because they are now closer to retirement than when they were in their 20s, or they may be becoming more responsible about their spending overall. Read More»
New business owners may be wondering whether they should hire a BAS agent or an accountant for their businesses. This article discusses why you need the services of both professionals.
Cost Implications
A BAS agent refers to a licensed professional who performs bookkeeping duties for a business. BAS stands for Business Activity Statement. An accountant performs broader roles such as filing your tax returns and advising you on matters affecting the financial health of your business. Read More»
As a freelancer, it is up to you to pay your taxes and handle all of your tax information. One instance you may come across is needing to amend a return. This could be due to a client that sends you tax information late, or it may be a client you forgot about until after you had already turned in your taxes. If you face having to amend your taxes through your local tax accountant, there are some things you should know. Read More»
