From working with medical practitioners over the years and also personal experience in looking at opportunities on behalf of my wife (a GP), one question that I get asked from time to time is “Should I buy into the practice?” [read more...]
Did you know that Inland Revenue reviews thousands of small business tax returns each year, and one of the biggest red flags isn’t about questionable deductions, it’s how business owners pay themselves or family members? Market salary rule for closely held companies A large portion of [read more...]
For many GPs and medical specialists, tax time can feel like a juggling act – busy clinic, fluctuating income and those large provisional tax payments that always seem to arrive too soon. But with a bit of planning, tax season [read more...]
Whether you’re buying into a medical practice or starting your own, choosing the right business structure isn’t just a box to tick – it can influence everything from your tax bill to your future flexibility. And with recent changes like [read more...]
In the world of professional services, understanding when income is recognised, or “derived,” for tax purposes is important. We are occasionally asked by professionals if it is possible to account for their income on a “cash basis”, as this generally [read more...]
If you operate as a self-employed lawyer, IT specialist, architect, manage a firm or agency, or provide professional services in any capacity, your time is your most valuable asset. As such, it’s crucial to ensure that you’re charging appropriately for [read more...]
Starting out as a professional services contractor is an exciting time. Whether you are in IT, medicine, engineering, law or something more creative, contracting provides a unique set of opportunities and challenges. And whether your goal is to just have [read more...]
As a small business owner it’s easy to get caught up in the day to day running of your business and have little time for the bigger picture. After all, time is money and every minute counts. This is particularly [read more...]
As a lawyer, doctor, surveyor, IT specialist or other professional business owner, the task of accounting for your specific industry can take you out of your comfort zone. Not only do you require basic accounting services, but you need expertise [read more...]
Here at The Accounting Hub we have our fingers on the pulse of accounting systems for health care professionals. We work with doctors, health specialists and clinic administrators to help health care centres operate smoothly behind the scenes. Running a [read more...]
