by Debra Anderson | Mar 10, 2017 | ATO, BAS, Bookkeeping, Deductions, Money, Tax
As a small business owner, you probably don’t get excited about tax season. At best, prepping your taxes feels like a hassle, the least fun of all your business activities. At worst, it has you pulling your hair out in a state of distress and confusion. Tax season doesn’t have to be painful. With the following tips, you can take the sting out of tax-related tasks and save your...
by Debra Anderson | Oct 10, 2016 | Advisory, ATO, BAS, Bookkeeping, Business, Deductions, GST, Industry, Money, MYOB, Partnership, QBO, Small business, Success, Tax, Xero
As a startup it’s easy to get so caught up in the excitement, the product, the service and the marketing that you forget to focus on some of the fundamentals of beginning a business. Getting these foundations right though from the start, will serve you well as you progress on your business journey and down the track you’ll thank yourself for it.
by Debra Anderson | Oct 10, 2016 | Advisory, ATO, BAS, Bookkeeping, Business, Small business, Tax
You see accountants are like doctors – they’re everywhere but just as there are many different types of doctors – such as general practitioner, paediatrician, psychiatrist, oncologist, ophthalmologist, etc – in the accounting profession there are also different types of accountants too – such as in-house company accountants, management accountants, tax accountants, financial accountants, cost accountants, forensic accountants, and the list goes on.
If we go back to my previous analogy of Accountants and Doctors we can go a step further and say that bookkeepers are like nurses, and they do the day to day work such as raising invoices, paying bills and processing payroll but it is the accountant who ensures the allocations are correct, prepares and interprets reports and ensures all the compliance requirements are being met.
by Debra Anderson | Aug 25, 2016 | Advisory, ATO, BAS, Bookkeeping, Deductions, Money, MYOB, Small business, Superannuation, Tax
Cash is the life blood of our businesses. It’s no secret, it’s not rocket science but cash flow is consistently one of the biggest pain points for Small Businesses everywhere. So what can you do to improve cash flow? Invoice your customers. Yes that’s what I said – just invoice your customers. Sounds too simple I know but I see many Small Businesses who are ‘too busy to...
by Debra Anderson | Aug 20, 2016 | BAS, Bookkeeping, Deductions, Money, Small business, Success, Superannuation, Tax
After years of telling myself that if I just tried harder, believe in myself more, and work smarter that I could do and have it all. I have since realised that all I have been doing is setting myself up for failure. Don’t get me wrong – I haven’t given up, I’m not throwing in the towel or crying into my doona – I have just had the epiphany...
by Debra Anderson | Aug 20, 2016 | ATO, BAS, Bookkeeping, Deductions, Money, Small business, Superannuation, Tax
No-one wants to pay more tax than they absolutely have to, yet all too often I see people unnecessarily paying more tax than they should have. Here are 8 very simple tips to ensure you don’t pay any more tax than you need to – they’re quick, simple and totally legitimate: 1. Keep your receipts If you’re paying cash for business or work related expenses make sure you keep...
