Want to save on home mortgage interest? If you are self-employed read on, this may the best thing you have read in years. Fact – Almost all home owners pay their interest in after-tax dollars. Fact – Paying interest in pre-tax dollars is a much better arrangement. The above statements are so obvious that many…
I have mediated in many partnership disputes over the years, and all of them have had a common element – the lack of a partnership/shareholder/unitholder agreement. You are in an exciting place. A partner, a great outlook and lots of blue sky. What could possibly go wrong! Frankly – a lot and it quite often…
This could be a very long list, but we have applied the Pareto Principle and outlined the big six to check against your business practices. 1. Do delegateFor our money the single main reason that small businesses hit the glass ceiling is an inability or failure to delegate. We have heard them all “nobody does…
If you are not a lazy manager, then perhaps you should be. OK, so we cheated. This is not all about laziness, but efficiency… and it is worth reading. The single biggest problem we hear about in the SME sector is that owners and managers are time poor. This results in a wide range of…
It is a matter of historical fact that it takes a lifetime to create wealth and often a single event will destroy that lifetime’s work. In almost all cases that event is beyond the control of the victim. If I had to nominate the most common cause I would choose a major client going insolvent….
A wise man once said “if you are looking for a 10% improvement, find 10 one percent actions”. We hope you can find ten one percenters to grow your business in this article. Set a business battle Plan of what targets of you want to achieve and then draw up a Budget to fund your…
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved and failure to address them pro-actively will cost you more tax. What happens when there is a family company? A recent ruling from the Australian Taxation Office (ATO) will create…
As in all exercises of substance, the first step is to plan your actions. In this concise article we outline what needs to be done to identify a top line adviser. The ten most common reasons for wanting to change accountants are: Phone calls not returned promptly or not at all. Poor value proposition. Deadlines…
A few years ago ANZ conducted a survey of SME accounting clients. An astonishing 43% of respondents said that they would change accountants if an appropriate one was presented. This is a measure of “perceived indifference” rather than hostile dissatisfaction. Compare that to the fact that accounting practice clients are generally perceived to be highly…