Ensuring your accountant collaborates with your financial advisor is important, as they will be able to discuss and workshop ideas to improve your financial position. However, in my 20+ years of experience, this collaboration almost never occurs, unless they work in the same firm. Theoretically, there shouldn’t be any impediments to these two professionals working …
Choosing the right accountant can make a world of difference. A proactive accountant will share tax-saving and wealth-building ideas, be available to answer questions during the year and ensure you never end up in the ATO’s ‘bad-books’. Common complaints There are two common complaints about accountants. Firstly, that they don’t provide proactive advice, including wealth …
Below is a recording of a webinar hosted by Stuart Wemyss on 14 October 2020 . This easy-to-understand presentation provides you with an introduction to family trusts, including: What is a trust, a description of the 5 types of trusts, you responsibilities, costs and procedural matters. The benefits that a trust can provide including an …
This year’s budget was definitely aimed at business rather than individuals, and it needed to be. The main goal of the federal budget is to create jobs to repair the damage that Covid has done to the economy and Australian community. Therefore, if you already have a job, there’s not much good news for you …
The difference between a great and an average accountant can be significant. Not only is tax one of your biggest annual expenses, but a great accountant should be able to proactively identify other financial opportunities, in addition to tax-saving measures. Typically, the more complex your financial situation is (e.g. if you are self-employed, running a …
Helping a business keep on top of their financial affairs has radically changed over recent years. With the help of a proactive accountant, more businesses are switching to cloud based software to help streamline their core processes. Although this has provided significant time and cost savings for businesses, accounting and tax compliance tasks can still …
For many, starting a business is a dream and a step towards financial independence. With making the leap into starting your own enterprise, the decisions made within the business’s inception can have drastic implications down the track including asset protection, capital gains tax (CGT), income tax, estate and succession planning. Here are 5 things you …
The number one comment that clients tell us is that they want proactive advice from their accountant. Traditionally, seeing your accountant meant visiting the number cruncher at the end of the financial year who gave you historical information, advised how much tax you will get back or pay and provided no real proactive advice. The …
Click here to download a printable version Tips, tools and strategies to help you master your cash flow management For most people it is a boring topic and they rarely spend any time on it. However, it is impossible to build wealth without a basic level of cash flow management. The simple and undeniable formula …
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