As small business accountants we often come across business owners who find that accounting is a foreign language that will never makes sense. And the fundamental fault for this lies in the person presenting the information – the small business accountants. The language of small business accountants is simply a language. And the better the… Continue reading What is business accounting?
In Australia inflation has effectively not been part of the family business and investing landscape for at least two decades. So dealing with rising prices and rising costs, and engaging cloud accounting software solutions to help that, in your commercial family business to make it prepared for inflation is important. Here are some simple measures,… Continue reading Structuring your business to combat inflation
As Xero scales up (and down) its cloud accounting solution for business across Perth and Australia it is exciting to see that Xero has recently released their new “Ultimate Plan” What is the Ultimate Plan? The Xero Ultimate Plan is the most comprehensive plan available to the families who own businsses. It includes Xero’s core… Continue reading A deep dive into the New Xero Ultimate package
As accountants we understand that an estate plan goes beyond preparing a will and a testamentary trust. The practice of making sure you choose the time when you transfer your estate together with the correct recipient (tax effectively) ranges from simple to deeply complex. The following are some simple tips to making sure your estate… Continue reading 13 Estate planning tips beyond your will
When you sit down with your accountant to strategically review your business plan: everybody needs to call the elephant in the room – blind spots. The process of business planning, monitoring and updating strategy can potentially become a group love-fest unless you have some critical high level thinking that is attempting to stretch the boundaries.… Continue reading 5 Key Forces to include in your business plan
With the increasing pressure to reduce greenhouse gases many people are touting the environment benefits of electric cars. However, part of the decision to purchase an electric car is a financial decision as well – and the financial impact of purchasing an electric car will be significantly impacted by the taxes and tax incentives of… Continue reading The tax benefits of electric cars
The advent of cloud accounting has changed the face of bookkeeping and accounting for small businesses across Perth and the broader Western Australian region. And a common question for a start-up business is – should I start off with Xero or MYOB? And for those start-up owners who don’t like reading – our endgame answer… Continue reading Xero v MYOB – which is the better accounting software for you?
Across Perth and wider Western Australia business owners are faced with ensuring that their staff and team members are wearing facemasks and PPE to come to work. And typically the provision of this personal protective equipment in a tax effective way is of up most importance to ensure that your team is functional and working… Continue reading The tax deductibility of surgical facemasks
The strategy of a family business is fundamentally determined by the location and functionality of your office or factory. We go over a few things to consider. Your office is a function of HR If your business is a services based business your office location is focused on your team. Having an office that is… Continue reading How your office or factory sets your strategy
As advisors to families in business the protection of the family’s wealth is always on our mind. And our combined experience as a specialist firm has shown us almost all of the ways a families wealth can be eroded quickly. The following are 5 ways your family wealth can be attacked. 1. Litigation Perth now… Continue reading How a wealthy family can lose it all – 5 ways to mess it up