Great accountants don't just take care of tax-prep and compliance issues. Numbers really do tell a story and today's entrepreneurs are turning to qualified business accountants to help drive success and business profits.
We often think of an accountant as the person that does our tax return or lodges our BAS statements each quarter. But an accountant with true commercial acumen can really make a significant difference in your business and help you.
Strengthening and developing your relationship with your accountant is really an investment in your long term business success.
Here are some examples of how your accountant can add more value to your business.
There is one thing that entrepreneurs want, and that is to be better. They are constantly striving for bigger and better. Never satisfied, they are always looking to achieve great things. But the one thing that will bring about the greatest shift for an entrepreneur is within. Working and investing on themselves is the best investment an Entrepreneur can make.
Despite accounting’s boring reputation, it can't be emphasized too much how essential it is that your business follows best practice accounting principles right from the start. No matter what size your startup is, there are some fundamentals that even the smallest self funded startup should be applying from the get go.
To keep your people costs down it can be beneficial to automate as many of your processes as you can.
One area that many entrepreneurs and small business owners undervalue is math. What do we mean by math? The ability to, at any moment, know the critical numbers that calculate whether you are profitable or not.
The 2018-2019 tax year is well under way. Small business owners know that cash flow is often a major worry and stress. Living on tight margins, every penny counts. So make sure you aren’t paying more tax than you need to!
If you are looking to operate your foreign owned business in Australia there are a few things you need to consider. Making sure that you get some of the key components right from the beginning can save you a lot of headaches and costs later on down the track. Here are some of the key things we think you need to consider before commencing your operations:
Small business owners need to be aware of tax concessions. While you need to check your eligibility, here are a few concessions may apply:
Traditionally banks have been wary of lending to small business and the capacity to borrow is becoming more difficult. Because of this, banks have spent most of their focus on bigger fish, leaving entrepreneurs and startups to generally fend for themselves. However, Australia is built on small businesses, so it is in all of our best interest to make sure that these businesses get the help they need to become successful.
Negative gearing…..a topic that polarises most financial advisers and confuses most investors. So is negative gearing a good strategy? Can it be used to as a profitable strategy for Property Investors? In this article we look at exactly what negative gearing is and the difference between negative and positive gearing.
Often when we have a tough business decision to make we are at a loss as to who we should get advice from. There is often a fear that professionals have their own agenda so we shy away from asking. Instead many people turn to family or friends. While they might have your best interests at heart, they are often ill equipped to advise on business or finances. This can mean that you get the wrong advice and make ill informed decisions.