Essential Advice for Value Added Tax: Get It Right


Thousands of businesses rely on selling goods and services. In doing so, you must meet the requirements of the tax regimes regarding such commercial sales. Particularly, you must pay attention to value-added tax (VAT). This is a consumption tax charged on a product as its value increases through different stages. For example, an item leaving the manufacturer's hands moves to a wholesaler, a retailer and the customer as the final destination.

19 November 2020

Income Tax Returns: Three Principal Tips for Increasing Your Refund


If you would like to increase your tax refund, you should consider using professional accounting services. In general, the process of filing income tax returns can be difficult and stressful for anyone without expert knowledge. As a result, it is not uncommon for inexperienced individuals to file poorly and miss out on significant refunds. An income tax accountant will provide guidance and ensure that the returns are accurate. Moreover, they will help you reduce your overall financial burden.

10 November 2020

When Should You Hire An Accountant in Your Business


Accounting services play an essential role in ensuring that a company runs effectively. For this reason, it's always important to work with qualified commercial accounting professionals to get high-quality service. One of the professionals you can rely on to get these services is an accountant. These experts can perform a wide range of tasks depending on your business's growth stage, helping you steer the company in the right direction regardless of the challenges you may be facing.

25 September 2020

3 Ways to Make Bookkeeping More Efficient and Manageable


Whether you run a big or small business, you can't overlook the money aspect. But although money matters a lot to any business, most small businesses don't invest in some efficient money management systems like bookkeeping. However, bookkeeping is a financial obligation you shouldn't disregard since it determines the financial health of your business. And because bookkeeping can feel daunting sometimes, here are some ways you can do to make it more efficient and manageable.

29 July 2020

Essential Questions You Should Ask Before Getting a Tax Accountant


Do you prefer filing tax on your own or working with a tax accountant? Filing taxes can be stressful, especially if it's your first year in business and you don't know how it's done. Due to this, it's always advisable to hire a tax accountant to handle the task on your behalf. The market today offers a wide range of tax accountants. Some work individually, while others are employed by accounting firms, and this makes it a bit challenging to find the right expert.

3 June 2020

How the COVID-19 Pandemic will affect your tax accounting over the next financial year


Just a few months ago, barely anyone expected that the new coronavirus would expand into a global pandemic. This outbreak has changed the financial reality of many different people in numerous industries. As a result, workers have been laid off, lost income, or lost their ability to work. Many businesses have also been forced to shut down in an attempt to limit the spread of the virus. The good news is that governments throughout the world are initiating steps towards helping affected workers and their families.

5 May 2020

Will Your Business Survive If You Continue to Ignore the Books?


When you're growing a business, you need to keep your eye on your daily activities to make sure that you maintain your sales and control your expenditure. If you provide a product to a specific marketplace, then you need to be sure that you buy in the raw materials or components that you need in advance and that you continue to market to the right sector so that people will buy your stuff.

9 April 2020

How to Address a Cash Flow Challenges in Difficult Times


The sudden onset of the coronavirus brought with it uncertain times for almost every small business in Australia. Almost overnight, business owners shifted their thought process from operations or expansion towards pure survival. In days like this, cash flow is critical, and it's more important than ever to keep on top of it. What could you do in this type of scenario to strengthen your cash flow position? Being Pragmatic

27 March 2020

Should You Leverage Your Debtor Book to Help with Cash Flow?


If you are in charge of a growing business and are facing some cash flow issues in the near future, you'll be looking at all your options and trying to find the best solution. Certainly, these can be challenging days for every business, but if you have a solid number of customers on the books and they have a good track record of settling their accounts, this may present one option for you.

25 March 2020

How to Be Best Prepared for an ATO Audit


Did you know that the Australian tax authorities have become very sophisticated in recent years and have some cutting-edge software solutions that help them to pinpoint anomalies? Their aim is, of course, to raise as much money as possible and to make sure that all small business owners are paying their fair share. This means that a tax audit may become increasingly likely if your organisation is unusual within your industry or triggers some of those digital "

25 March 2020