Taxes for a small business are unavoidable, but that does not mean your struggle to understand the ins and outs is also unavoidable. Our expert small business accountants have prepared this guide to offer you the information you need to get your taxes sorted and filed painlessly come tax time.
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Do I Need an Accountant for My Small Business?
Many owners of small businesses wonder if they need to work with a business accountant. Some are convinced that they can handle their taxes on their own. Others are on the fence. Shifting the burden of doing taxes sounds very attractive, but you may wonder if you are too small to need an accountant. That is why we’ve prepared this handy blog to answer all of your questions.
Improving Financial Reporting Accuracy
Updated 19th June, 2023.
Getting your financial reporting correct is crucial. However, not everyone is a business accountant, and it can be hard to understand what this means or what to include. Read on below for more information regarding what financial reporting is and how to ensure accuracy.
Planning a Business Exit Strategy
Whether you have inherited a family business, bought your company, or built it step by step from the ground up, there may come a time when your journey with your company has reached an end. That is why our business accountants have prepared this handy guide for planning your business exit strategy.
Essential Information on Intergenerational Wealth Transfer
Passing down money, other resources, and property can be complex and sometimes contentious. That may be one of the reasons many families find discussing death and inheritance painfully awkward. However, it is inevitable and needs to be a topic of conversation, especially in light of the increasingly sizeable intergenerational wealth transfer.
Ten Reasons You Need Asset Protection
In our litigious society, protecting yourself, your business, and your other holdings is a necessity. Especially since a single mishap or mistake has the potential to wipe you out. Our team of business accountants has laid out the top reasons to protect your assets below.
What is the Difference Between Financial Accounting and Management Accounting?
Often, those not involved in accounting do not realise that the field has four major branches, tax accounting, auditing, management accounting (also called managerial accounting) and financial accounting. Auditing and tax accounting are self-explanatory. However, there are significant differences between financial and management accounting which are worth mentioning. Our expert business accountants have laid out the differences below.
The Key to Getting a Good Tax Return
For many Aussies, a good tax return is a safety net against hard times, money to repair or replace necessary items, or a relaxing holiday. While the money received as a refund from the taxman may be earmarked for different purposes, the bottom line is everyone wants as much as possible. That is why our team of tax accountants has prepared this handy blog.
Work-Related Tax Deductions: What You Need to Know
It is easy to make big plans for the tax return you believe is coming your way. Home improvements, holidays, or paying down debt usually top the list of ways to spend the windfall. However, to get a refund, you need the numbers to align. This is where our expert tax accountants can help.
Top Tax Planning Strategies for Tax Minimisation in 2024
Updated 7th June, 2024.
Many aspects of business can be challenging, but planning a tax minimisation strategy doesn’t need to be. Working out all of the many details associated with your taxes and remembering to account for any new or amended tax laws is a significant task when doing this yourself, so it is best delegated to a business accountant. However, whether you are lodging your own taxes or if you are working on your tax plan with a professional, you will want to to know the top tips for putting together a tax planning strategy.