Posts

  • Top Benefits Of Running Your Accounting Function On The Cloud

    Cloud-based accounting services have become a great hit among businesses of all sizes and across different sectors. Are you still on the fence about whether or not this cloud-based system is for your business? Here is a rundown of a few reasons to keep in mind that should do more than convince you to go for it 1.      Accessibility From Anywhere At Any Time No longer will you or your team members have to go into the office to access your accounting files.
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  • Why You Should Do What You're Good At—And Outsource All The Rest

    Many people decide to set up a small business because they are an expert in a particular field and feel that they have a product or service that would be of use to the general public. Yet many of these entrepreneurs fail to appreciate just how much work is involved in running an enterprise like this. They end up taking on a very time-consuming and stressful job instead of putting themselves on the path toward freedom.
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  • Do You Qualify for a Refund of Your Australian Taxes?

    Have you ever worked in Australia but have never intended to call it your permanent home? If so, you may well be interested in learning how to reclaim some of the tax that you paid while you were on those shores, but don't know how to go about this. Where should you start in order to get back the money that you're due? Were You a Tax Resident? Firstly, you must be clear about your "
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  • Tax Returns: 4 Types of Information Needed by Your Accountant

    If you own a business and you need to sort out your tax affairs, going to see an accountant is a great idea. A qualified accountant can fill out any necessary paperwork while also making sure that you are not paying too much tax. However, when you meet with your accountant, it is important that you bring the correct documents with you. Below is a guide to 4 documents you should bring along to your accountant's office.
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  • What Small Business Owners Can Do When Administration Gets Out Of Hand

    Call it procrastination, or just being too caught up in everything else, but small business owners frequently need to play "catch-up" when it comes to their bookwork and financial records. The pressure is definitely on when it comes to the end of the fiscal year, as well, but with some planning and forethought there is no need to endure these panic situations. What can a small business person do to put in place better practices, so that there aren't any nasty surprises in store?
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  • Home Office Deductions When You Own Your Home: A Look at the Basics

    If you are an independent contractor, a small business owner or anyone else who runs a business from a home office, the Australian Taxation Office allows you to claim deductions for your home office expenses on your tax return. In most cases, you can write off a portion of your utility bills and rent based on the space your home office takes up in your home. If you own your home, however, the write off is slightly different.
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  • Why You Should Take the Threat of a Tax Audit Very Seriously

    Death and taxes. Supposedly, the only two things that are guaranteed in life? Either way, if you're in business in Australia you know that the tax season comes around all too quickly. You've got to pay attention to getting this right, or you risk an audit by the dreaded ATO. What do you need to pay attention to, especially when it comes to your record-keeping capabilities, if you're going to avoid an unwanted visit?
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  • Filing Business Taxes: Documents to Bring to Your Accountant

    If you need to file your taxes, going to an accountant is a great option, since they will get it done promptly and answer any questions you have. When meeting with the tax accountant, it is good to be prepared ahead of time by bringing all the important documents. Here are some of the essential ones to gather now. Financial and Income Documents The first category of documents you need to bring to your accountant includes anything that shows your income for the previous tax period.
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  • Basic Accounting Terminologies You Should Know to Guide Your Business Operations

    As a business owner, don't just be green and stay in the dark about accounting and financial operations that take place in your company. Having some basics of accounting principles and terminologies will help you a great deal in handling your company's growth and finances. These comprise of general concepts and rules that govern accounting as a profession. Income statements, balance sheets, statement of cash flows and sample transactions are some encounters you will meet when dealing with accounting operations in your company.
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  • 3 Things You Have to Do on Your First Day as a Freelancer

    Congratulations on escaping the cubicle and entering the world of freelance work. You now get to make all your own work decisions and create the working life for yourself that you have always dreamed of. Although there are huge benefits to the freelance life, working as a freelancer is easier said than done. To succeed, you need to hit the ground running from day one. Here are three things in particular that you need to do on your first day in the freelance world.
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