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How to Pay Tax as a Sole Trader

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Your job as a sole trader is challenging, and you must oversee every detail of your business to make sure everything is done correctly. Why add stressing about how to pay tax as a sole trader to the list?

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What Do Business Advisors Do?

A business advisor is a strategist who works with your company to help with planning, finances, marketing, and even development.

While many titles in the business world are name-apparent, others sound familiar but leave you unsure about what the job entails. A business advisor is one of these terms. The job title of business advisor became fashionable in the 1970s. However, even in the 21st century, most people only have vague ideas regarding the job’s purpose.

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How to Lodge a Business Tax Return

If the tax return process confuses you, it’s a good idea to check out the ATO resources.

Tax time does not need to be dreaded by business owners. While a significant amount of effort goes into preparing a business tax return, and many simply leave this task for their business accountant, this six-step guide can help you lodge your business tax returns.

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The Essential Guide to Small Business Tax Deductions

There are a variety of deductions that small businesses can take during tax time.

Taxes for a small business are unavoidable, but that does not mean your struggle to understand the ins and outs is also unavoidable. Our expert small business accountants have prepared this guide to offer you the information you need to get your taxes sorted and filed painlessly come tax time.

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Do I Need an Accountant for My Small Business?

One of the most important decisions you’ll make when starting out is whether or not to hire an accountant.

Many owners of small businesses wonder if they need to work with a business accountant. Some are convinced that they can handle their taxes on their own. Others are on the fence. Shifting the burden of doing taxes sounds very attractive, but you may wonder if you are too small to need an accountant. That is why we’ve prepared this handy blog to answer all of your questions.

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Improving Financial Reporting Accuracy

Financial reports are key in providing an objective, accurate picture of a company’s financial state.

Updated 19th June, 2023.

Getting your financial reporting correct is crucial. However, not everyone is a business accountant, and it can be hard to understand what this means or what to include. Read on below for more information regarding what financial reporting is and how to ensure accuracy.

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Planning a Business Exit Strategy

An exit strategy is a contingency plan for a person to exit a business in the event that it meets a substantial profit, or becomes no longer profitable.

Whether you have inherited a family business, bought your company, or built it step by step from the ground up, there may come a time when your journey with your company has reached an end. That is why our business accountants have prepared this handy guide for planning your business exit strategy.

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Essential Information on Intergenerational Wealth Transfer

Inheriting wealth is a life milestone that prompts many to seek financial advice.

Passing down money, other resources, and property can be complex and sometimes contentious. That may be one of the reasons many families find discussing death and inheritance painfully awkward. However, it is inevitable and needs to be a topic of conversation, especially in light of the increasingly sizeable intergenerational wealth transfer.

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Ten Reasons You Need Asset Protection

Successful business and investment planning should encompass protecting your assets.

In our litigious society, protecting yourself, your business, and your other holdings is a necessity. Especially since a single mishap or mistake has the potential to wipe you out. Our team of business accountants has laid out the top reasons to protect your assets below.

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What is the Difference Between Financial Accounting and Management Accounting?

The main difference between management and financial accounting is the user of the data.

Often, those not involved in accounting do not realise that the field has four major branches, tax accounting, auditing, management accounting (also called managerial accounting) and financial accounting. Auditing and tax accounting are self-explanatory. However, there are significant differences between financial and management accounting which are worth mentioning. Our expert business accountants have laid out the differences below.

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