It seems there is barely a month that goes by without another story appearing in the news about an employee who has stolen thousands, sometimes hundreds of thousands, of dollars from their employer. The reality is that most fraud does [read more...]
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...]
One of the basics of running a successful business is setting a budget each year. Without one, it’s easy to muddle through and simply hope this year’s results are better than last year’s. A budget helps you take control of [read more...]
If you run a business from home, or use part of your home primarily for business purposes, you can often claim a proportion of household costs as business expenses. So, how do you calculate this? Well, traditionally, the process has [read more...]
Every business seems to have one. The keeper of the financial keys. The person who knows the systems, the passwords, the filing logic and how the numbers actually come together behind the scenes. Good bookkeepers often work quietly in the background, keeping everything [read more...]
There is an old image of bookkeeping that still lingers in many people’s minds. Someone sitting quietly in the corner of the office entering numbers into a ledger. Necessary work, but mostly invisible. Modern bookkeeping is nothing like that. In [read more...]
As the end of the financial year approaches, attention often turns to year-end accounts and tax compliance. For many business owners, this can feel like a compressed, high-pressure process where everything needs to be finalised at once. In practice, the [read more...]
I spent Thursday and Friday last week at the Chartered Accountants Australia and New Zealand (CAANZ) tax conference, listening to specialists from practice, economists, and very noticeably the Inland Revenue (IRD). In fact, IRD seemed to have the largest contingent [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...]
Helen and Andrew attended Xerocon in Brisbane in the first days of September. From a massive two days we learned about Xero’s updates and strategy as well as hearing from business leaders and specialist app partners. For us one of [read more...]
