Dynamic Business

The end of the financial year (EOFY) is less than eight weeks away now, and it’s important small business owners know what tax obligations and changes need to be accounted for, before June 30.

Having your accountant do your reporting might cost you a little extra, but there are a number of serious benefits to having an experienced professional look closely at important business figures.

Customer credit terms are a negotiation not to be to be taken lightly, and a selective procedure is vital for business protection, success and longevity.

Running a business can be all-consuming and exhausting, which makes it vital for SMB owners to take time out, recharge their batteries and keep the passion they feel towards their business blazing.

Putting systems in place to ensure data is captured and accurately categorised for FBT purposes throughout the year could save you and your accountant a big chunk of time and effort at the end of March. Here’s some expert advice to get you on the right track.

March is upon us again, and this means just one thing – tax season is near! Here’s what you should be doing now to prepare your business for the end of the financial year.

Sometimes it can be difficult to see the bleeding obvious, even if it’s right in front of your face. This can be especially true for business owners, whose judgement can be clouded by the very nature of their relationship with their business. So, here are the ten early warning signs your small business might be under pressure.

Communication, delegation and good team relationships are the basis of a good business. How well are you communicating with your employees?

Every small business owner needs a good advisor and many need help to stay on top of record keeping, which is where a good accountant can lend a hand.

2012 has kicked off the same as most New Years’ do – with plenty of talk about setting goals and getting various aspects of your business in order. The trouble most people face is knowing where to start, so Brad Callaughan has put together six easy ways to get the 2012 year off on the right financial foot.

The New Year is a perfect time to begin setting business goals, and Brad Callaughan has some advice about how to actually achieve them this year.

“Remember, your goals don’t have to be a secret, tell someone close to you so they can keep you on track to achieve your goals.”

Brad Callaughan imparts 12 golden tips for getting your numbers right now so you can start the new year with a bang.

Brad Callaughan blogs about what the carbon tax really means for small businesses.

“Talking to businesses, I sense a lot of unease about this new tax and the lack of information out there that allow us to understand and prepare for this new tax…”

Brad Callaughan looks at whether you should be fixing your interest rate.

“The RBA will need to cut rates to keep the economy going, especially coming into Christmas…”

With Christmas approaching fast, Brad Callaughan looks at the Fringe Benefit Taxes payable on gifts to employees, suppliers and clients.

“Fringe Benefits Tax is a tricky subject, and if not understood and addressed before you spend that money it could leave you a large hole in your pocket from the FBT payable.”

Brad Callaughan looks at setting guidelines and schedules in your dealings with clients.

“If you currently have one client that is taking all your attention you need to very carefully re-train them – this will involve setting boundaries.”

Brad Callaughan blogs about creating a positive work environment for the benefit of your business.

“Your business is only as successful as its staff, therefore, it is of utmost importance that you develop a positive work culture in your business.”

Brad Callaughan looks at the methods a business owner has at their disposal for purchasing a car.

“Buying a new car under your business can be confusing. With so many options available, which one do you go with and what will be best for you?”

Brad Callaughan delivers 20 easy ways you can improve your business’ profits.

“Raise your prices. You’ll be surprised how few complaints you’ll get about a 5-10 percent price increase. A slight increase each year is less noticeable then one large increase.”

Brad Callaughan blogs about the preparation that goes into selling a business.

“Selling your business shouldn’t be a spur of the moment decision. Succession planning should be looked at over a number of years to determine the best road forward. Not only do you have to decide on either passing your business down or selling it but you also need to look at the tax implications…”