Is your business drowning in debt? Do you continuously ask yourself where your profits seem to go every month? As a team of chartered accountants who offer small business bookkeeping in Melbourne, we see this all the time. At the end of the day, a business’ finances all come down to the business owner’s financial habits. And in the interest of healthy finances, it’s always a good idea to look at what others have done to achieve success. Through this list, you’ll learn some of the smartest financial habits that other business owners practice so that you, too, can take control of your business’ finances.Continue reading
We’ve discussed self-managed super funds quite a lot in the past, but today we’re going to go in-depth into one particular – and popular – aspect of an SMSF. Whether or not you can purchase a property with your Ivanhoe SMSF is something that gets asked a lot, so we’ve decided to dedicate a blog to it. We’ll be discussing what you can and can’t do when it comes to property purchasing and investing with an SMSF.
An SMSF is a time-consuming practice. Whilst it does have its advantages, it can go horribly wrong if you don’t know what you’re doing. On top of knowing the ins and outs, you must also ensure you’re adhering to the strict guidelines laid out by the Australian Tax Office as failure to do so can attract a hefty fine. In today’s blog, our SMSF accountants in Melbourne are going to be going through five myths that surround self-managed super funds and breaking them down for you.
Taxes are what the government draws its funds from. Without them, we probably wouldn’t have the infrastructural advances that we have today. In today’s blog, we’re going to be having a look at some of the major tax laws that affect us. Whether you’re a property investor or small business owners, there are a few different types of taxes that apply will apply to you at various stages in your life and it’s best to have them explained to you properly by a qualified tax consultant.
An SMSF can be an advantageous venture if done correctly. But not only do you need to know how to run one successfully but also be sure that you need one. Depending on your situation, a self-managed super fund can either offer some fantastic benefits or cost you money as it can be expensive to run. The following information will help determine whether or not an Ivanhoe SMSF is right for you.
There are many things that can be considered a nightmare for a business owner – low-profit margins, bankruptcy. But, amongst those is the reality that one of your employees is committing fraud and using your business to do so. Unfortunately, it is something that can happen, and you’ll have to deal with it if you come across it. Luckily for you, our Heidelberg accounting firm has formed this list of what to do when you suspect or come across fraud happening in your own business.
Once you’ve created a budget, the next step is actually sticking to it. This is certainly easier said than done. Birthdays, outings with friends, grocery shopping and eating out can all be tempting opportunities to splurge and ruin the financial plan you’ve set for yourself. But don’t fret: today we are giving you all the tools you need to make your lifestyle fit around your budget, from carrying cash to speaking to a Silverdale accountant in Heidelberg. Continue reading
Tax time comes around once a year, but you should be conscious about it all year-round. It is up to you to make sure you keep your receipts and know how much tax you can claim back. This is why it is important to be conscious and keep all your big purchase receipts or business expenses.
Even if you’re not sure, it’s better to be safe than sorry so that when the time comes, your Heidelberg tax accountant can help you efficiently and effectively. That’s why for today’s blog, we’ll be looking at why you should keep your tax records and what exactly you should prepare for your tax accountant in Heidelberg.
Money management can be tough. But remember: it’s never too late to start creating a personal budget to help you kick your financial goals. It’s actually much easier than you think – especially when you break down the steps into a quick guide. In fact, that’s exactly what we’re doing in today’s blog. We’ve come up everything you need to know to get started on your personal budget, including special insider tips from our tax accounting firm in Heidelberg. Continue reading
If you’ve started up a small business, then you might want to know how much it’s worth. That’s where business valuations come in. This can help you get an idea of how much your company is worth. This involves looking at various aspects of your business including sales, revenue, assets and many more. Your Ivanhoe accountant can help evaluate your business when the time comes. But when is that time exactly? Today we’ll be looking at why business valuations are important, what they entail, and when exactly you should have your business valued – as well as the benefits of business valuation when looking at purchasing a business.