
Choosing The Right Accountant
A good accountant is an invaluable resource. Here are our tips to ensure you choose the right accountant for your business.
A good accountant is an invaluable resource. Here are our tips to ensure you choose the right accountant for your business.
While it might seem at first glace that a contractor is cheaper and easier because of PAYG Withholding, Superannuation & Annual Leave – it can be a very complicated space where there might not be a right answer.
The chief reasons for the popularity of SMSF’s include control over assets,
tax benefits associated with superannuation, flexibility in funding retirement, potential cost savings by eliminating trustee and portfolio fees & estate planning opportunities.
Lack of cash flow can be the difference between success and failure for small businesses – the planning of cash flow can reduce stress for both you and your creditors and the knowledge that you have money spare allows you to expand.
Negative gearing is one of the most misunderstood concepts in tax and is something commonly said in the media without any real explanation. Simply, gearing is “borrowing to invest”.
A franking credit is a tax credit attached to “franked” dividends that shareholders receive from companies. Is it where the company issuing the dividend has already paid taxes on the income used to pay the dividend. To an individual, it is similar to PAYG taxes than your employer pays on top of your net wages.
Directors are legally responsible for ensuring that their company meets its pay as you go withholding, GST and superannuation obligations. If a company fails to comply with their obligations, company directors are held personally liable for the amount the company should have paid.
The sharing economy describes an emerging social concept that connects people via the internet to those who will share services for money.
Buying an existing proven business can be easier than starting from scratch – an established business has brand awareness, a (hopefully happy!!) customer base, regular suppliers and immediate cash flow.
Asset protection is needed as early as possible to protect yourself from a disastrous first few years of trading -it’s not only for the wealthy! It can mean the difference in protecting your family home and not.
Allowances are separately identified payments made to an employee to cover expenses they incur while performing their role. Allowances paid in conjunction with normal salary and wages are not treated separately for PAYG withholding, but can still have special treatment in the eyes of the ATO.
When you’re at the stage of asking this question, it’s often the case that there’s no right answer. Many businesses will start out as hobbies, and there will be a point when you could say it’s either. Your accountant can help you consider the differences in the characteristics of commercial business and a hobby to make sure you’re lodging your taxes correctly.
There’s no doubt that claiming for your work-related car expenses at tax time is one of the great joys of life! However, you must be certain that you have strong documentation to substantiate your claims.
Working Holiday Makers Taxes & the so called Backpacker Tax… Holiday makers on a 417 visa have often never been involved in tax returns so we’ll explain how tax residency & Working Holiday Marker income works.
Bookkeeping For Small Business in Australia When you first opened the doors to your small business, you were certainly delighted to meet your first clients
Bookkeeping Systems To Use For Small Business Before settling on a certain method to maintain a record of financial transactions for a company’s operations, it
Are accountants good at math? Earning a degree in accounting is an excellent method to improve your chances of landing a secure job that will
How do you maintain bookkeeping? DISCLAIMER: We’re commenting on United Kingdom finance legislation. Documentation is not the primary motivation for most people when they launch
What are the duties of a bookkeeper? Bookkeepers are accountable for the upkeep of an organization’s most important accounting documents, which are referred to as
What Are The Types Of Bookkeeping? It’s crucial to understand the many types of bookkeeping systems before deciding which one to employ to keep track
Should I Hire An Accountant For My Small Business? There are several compelling reasons to hire an accountant at various phases of your company’s development.
What Are Some Accounting Strategies? Accounting is a critical company function that collects, records, and analyzes financial data. This financial data frequently contains extensive information
What Does A Bookkeeper Do For A Small Business? Bookkeepers are tasked with the responsibility of giving an organisation accurate and up-to-date financial information. They
What Are The Basics Of Bookkeeping? Your ability to measure the success (or failure) of your efforts as a business owner will be rendered meaningless
Can I claim expenses without a receipt? Do you claim tax deductions if you don’t have a receipt? Claiming costs without receipts is problematic because
How can accounting grow your small business? The accountant is an important part of every organization; after all, poor financial management is often the reason
How much should I pay a bookkeeper? The price of bookkeeping is often determined by a combination of two factors: the amount of time spent
How can I be successful in accounting? Accounting used to be one of the safest professions to pursue. It guaranteed you a job, a decent
Bookkeeping For Small Business in Australia You were undoubtedly excited to meet your first customers and start making money when you first opened the doors
How do I keep books for a small business? Anyone in business should keep good records because it makes it simpler to manage cash flow,
How to choose the right bookkeeper? A good bookkeeper is essential for every business’s long-term success; consequently, finding the appropriate bookkeeper is equally important for
How to start a bookkeeping business from home? To begin, you can start a bookkeeping business by working for yourself a few hours each week
What are the basic bookkeeping skills? Financial transactions are recorded and classified by bookkeepers. People in this position must be comfortable with numbers as well
Are you interested in becoming a bookkeeper but have no experience? Coming up with a concept and beginning a new firm can happen in the
How do you run a business? There is no restriction on people who can succeed as entrepreneurs. It is not necessary to have a college
How Much Should A Small Business Owner Pay Himself? DISCLAIMER: We’re commenting on USA finance legislation. The entrepreneur’s salary—it’s a number that’s both thrilling and
What do bookkeepers do? DISCLAIMER: We’re commenting on USA and U.K finance legislation. Even though it’s not the most exciting part of beginning a business,
What Are The Necessary Bookkeeping Skills? Bookkeepers and accountants both play important roles in the financial side of things. However, there is a difference between
What are the most typical difficulties in bookkeeping that a small business encounters? What are some of the most challenging and rewarding aspects of running
What are the two kinds of bookkeeping? One of these two methods was utilised in the practice of traditional bookkeeping. The systems were utilised by
Types of Bookkeeping The financial management of a small business relies heavily on accurate bookkeeping. The procedure entails organising and keeping accounting and financial papers
Why should I hire a bookkeeper? Within the realm of commerce, the function of the book-keeper is critical. They will take care of all of
When to hire an accountant? The majority of people who enquire about our services are owners of small businesses who are grappling with various challenges.
How to start a bookkeeping business? Are you considering beginning your own bookkeeping business? You’ve arrived to the right location. Whether you’re transitioning from a
What different approaches are there to bookkeeping? When you are responsible for running a company, it may appear as though the bills are constantly piling
Bookkeeper’s Role in a Small Business Bookkeepers are capable of doing a wide variety of tasks, depending on the requirements of the company. Having said
What qualifies a small business? A corporation, partnership, or single proprietorship that is privately held and has fewer employees and lower yearly income than a
Tips for keeping records for your small business. The coming of tax season is surely not something that excites you as a small business owner.
Should you consider a bookkeeping career? In Australia, bookkeeping is a common career. It enjoys the benefits of a semi-professional ‘white-collar’ occupation. Nonetheless, it allows you to
How do I get QuickBooks Certified? A QuickBooks ProAdvisor is a member of the QuickBooks ProAdvisor program who has passed a certification exam and has an
Is it hard to become a bookkeeper? Are you a whiz when it comes to utilising spreadsheets, and do you find it enjoyable to spend
Have you wondered how small businesses reduce their taxes? Taxes are a potential source of anxiety for the owner of a small business. You probably
Tips on identifying a small business. If you own a company, it is critical for you to gain an understanding of how the company’s size
Is it possible to claim tax without receipts? When you don’t have a receipt, do you claim tax deductions? Claiming without a receipt is increasingly
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What costs may you claim on your taxes? Because it will soon be time for you to file your tax return, you should start thinking
Why Is My Tax Refund So Low? If you are an Australian resident for the purposes of income tax and you pay tax on the
What to know about your small business accounting software? Making sure that your small business has the appropriate accounting software is essential. One of the
Have you wondered what are the features of managing a small business? It’s no secret that running a small business is difficult. Keeping track of sales, recruiting,
What Is The Difference Between A Bookkeeper And An Accountant? Every corporate organization requires two functions: bookkeeping and accounting. To put it another way, bookkeeping
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What Is The Best Bookkeeping Software For Small Businesses? Accounting software is beneficial to owners of small businesses because it enables them to handle accounts
What Is A Tax Write Off And How Does It Work? Under the provisions of the instant asset write-off, eligible businesses are able to submit
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What is Full Cycle Accounting? Accounting is the study of commercial operations through time. The whole accounting cycle refers to the process of performing all
The best accounting and bookkeeping apps for small businesses Because dealing with percentages, decimal points, and calculations is likely to result in blunders and a
Tax Tips For Manufacturing Businesses Australia The manufacturing industry encompasses a wide range of subfields. Commodity products such as some foods and drinks and high
Why is cloud bookkeeping best for small businesses? The cloud solution has decreased or eliminated duplicate, time-consuming work, which is the scourge of most enterprises,
Accounting is one of those things that every company, no matter how big or how small, needs to have. Many times, businesses are required to
30+ Best Business Bookkeepers in Melbourne, Victoria [2022] Some people get the impression that both positions are the same. Even the dictionary adds to the
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Hiring Staff Chapter 1: The hiring process: how to hire staff Are you prepared to bring on board your very first worker? Or, perhaps you
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Cloud Accounting Are you interested in gaining knowledge about accounting in the cloud for your small business? Explore our many guides, such as those on
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Remote Working Chapter 1: How accountants and bookkeepers can adapt to working remotely Businesses have been obliged to accept remote work arrangements due to the
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What Does an Accountant Do? It’s a good question. Do accountants also take on responsibilities that are associated with bookkeeping? Are they able to provide
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