Accounting Geek: Trends in Finance and Commerce

Everything Start-up Entrepreneurs Need to Know About Tax Shield

Posted by on 8:06 am in Uncategorized | Comments Off on Everything Start-up Entrepreneurs Need to Know About Tax Shield

Part of being a good financial manager in a start-up company requires you to identify opportunities that your firm can use to save money. Sometimes, these opportunities lie beyond your ability to negotiate for favourable prices when buying assets or signing contracts. You need to look at things such as a tax shield benefit. If you’ve just started out in business, here is a look at tax shield benefit to help you gain an understanding of what it is and how it helps your firm save money: What is Tax Shield? A tax shield refers to any...

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3 Ways to Maximise Profits When Selling Your Business

Posted by on 8:03 am in Uncategorized | Comments Off on 3 Ways to Maximise Profits When Selling Your Business

Given that business is all about making money, you want to ensure you get the most money you can when you sell yours. After all, you’ll be kicking yourself later down the line if you find out that you could have sold the company for a lot more than you did. Here are 3 things you need to consider when selling your business if you want to maximise your profits from the sale. Don’t Undervalue the Business One of the most common mistakes business owners make is undervaluing their company before selling it. The first thing you need to...

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5 Ways Your Accountant Can Help Grow Your Superannuation Fund

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Your superannuation fund is your ticket to a comfortable life after retirement. Naturally, the more funds you can accumulate in your fund before retiring, the better off you’ll be in your sunset years. It is for this reason that you should seek to work with an accountant as far as your superannuation is concerned. They can help you grow your account in a number of ways: Planning fund targets The superannuation fund should be treated to the fundamentals of any other investment. Contributions should be made regularly; they should be...

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Understanding an Australian Superannuation Fund and Its Benefits

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A superannuation fund is a type of pension plan that is paid through an employer in Australia. It’s a legal requirement for most companies to pay into this fund and it offers a number of benefits for employees. If you’re not sure of how a superannuation fund works or why it’s beneficial for you, note a few factors about the plan. Remember that you can also research how the plan works through the Australian government or ask your employer to explain its details to you. 1. How it works Your employer pays into the...

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How to Know If You Need a Financial Planner

Posted by on 4:31 am in Uncategorized | Comments Off on How to Know If You Need a Financial Planner

A financial planner is different than an accountant in that a planner will work with you to create a plan or structure for your finances. This may be done to pay down debt, plan your retirements, grow your finances, and so on. An accountant may help you with money you already have, whereas a planner will help you to make plans for money you’ll need for the future or for how to deal with money you owe. Note when it’s good to consider the services of a financial planner and how to know if you need one. 1. When you have large amounts...

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Managing your expense claims as a small business

Posted by on 11:30 am in Uncategorized | Comments Off on Managing your expense claims as a small business

If you are a small business owner, you know how important it is to keep on top of your expense claims to provide adequate data for end of year tax returns and quarterly BAS statements. Here are some tips to help you manage your personal expense claims and any claims from your staff.  Digitise your receipts and expense claim procedure The ATO now accepts scanned receipts as evidence for claims. Many of the cloud based accounting software packages for small business even have smartphone apps so that your staff can submit claims from the...

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Lesser Known Services You Can Get From a Business Tax Accountant

Posted by on 11:32 am in Uncategorized | Comments Off on Lesser Known Services You Can Get From a Business Tax Accountant

If you own a business, chances are that you probably have a good tax accountant to ensure that you are in compliance with all tax regulations and to file your taxes. But business tax accountants don’t just do taxes and help you stay on the right side of the Tax Office, they also offer some other services that could benefit your bottom line. To help you out, here are some of the lesser known things they can do. International Business Consulting — A lot of businesses are starting to do more of their work abroad, which can create a...

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Accounting Mistakes You Should Avoid For Your Small Business to Thrive

Posted by on 6:40 am in Uncategorized | Comments Off on Accounting Mistakes You Should Avoid For Your Small Business to Thrive

Running a small business can prove to be quite arduous as you try to make a name for your business and increase your bottom line. However, what most small business owners do not realize is that simple accounting mistakes can go a long way toward impeding the growth of that business. To avoid the risk of losing your business due to bad accounting, it is always best to enlist the services of tax accountants. Not only do these professionals work toward ensuring that your business meets its legal responsibilities, but they can also help...

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