If you're looking to invest your money but don't want to rely on a broker to manage your funds, then a self-managed fund could be the right choice for you. Self-managed funds, also known as self-managed super funds (SMSFs), allow individuals to have greater control over their investments and retirement savings. However, before you dive into self-management, it's important to understand how these funds work and the responsibilities involved. In this beginner's guide, a closer examination of self-managed funds will be conducted, including their benefits, risks, and key considerations prior to setting one up.
18 October 2023
Although sole traders can work in virtually any sector of the Australian economy today, the one thing that makes them stand out from many businesses in the country is that they rely on the output of a single individual. This can be a very efficient way of running an enterprise, of course, since the entire business operation goes through one person. However, the drawback is that you have to do everything from buying goods to finding new customers.
27 February 2023
The tax season is often one of the most challenging seasons. Most business owners struggle with last-minute taxes and realise they should have hired an expert ahead of time. However, you do not have to wait until the last moment to get a professional. The wisdom in hiring a tax accountant as a regular contractor or employee is that no tax issue will creep on you. Here are four other reasons to consider hiring an expert.
29 August 2022
Do you plan to sell your small business in the near future? If so, you'll want to get as much money as possible and need to make the organisation as attractive as possible to potential buyers. Yet you also have to know how to create a valuation, and there are many different factors to take into account as you proceed. What should you know as you prepare for this momentous occasion?
9 March 2022
Most small business owners understand how important it is to keep on top of their finances. They may even know about cash flow statements and how these relatively simple documents can help to avoid an empty bank account when bills are due. Yet, they may not keep on top of something crucial to the enterprise's lifeblood and fall down when it comes to actually getting paid. If this sounds too familiar to you, what can you do to rectify the situation?
29 October 2021
Whether you run a large corporation or a small business enterprise, managing your finances, especially taxes, can be an overwhelming task. While you might try handling your taxes on your own, simple mistakes can have an enormous financial impact on your business. Therefore, it's crucial to enlist a professional accountant to enjoy numerous benefits, including the following. Enjoy Professional Tax Planning and Projections One of the significant advantages of hiring professional tax accountants for your business is annual tax planning and potential cost projections.
24 August 2021
In an attempt to save money, many small businesses handle accounting matters on their own. But with other things to look after, you might not track every income, expense, payment and tax effectively. That increases the chances of making mistakes. Clerical errors can be devastating, costly and time-wasting for a small business. The best way to evade these mistakes is hiring professional bookkeepers. Below are some of the accounting errors the experts can help you avoid.
28 April 2021