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Do you understand your Profit And Loss? May 20, 2022
Your Profit and Loss Statement shows a list of all income and all expenses in a particular date range.
 
If you are running accounting software such as MYOB or Xero, then you should be entering in all of your invoices as soon as they are raised, and the bills when they come in, and then...
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Tax returns due dates that you might be missing May 13, 2022

One of the biggest mistakes people make at tax time is rushing to get their return in on time, and failing to claim some of the deductions they're entitled to.

The good news is that you have a lot longer than you may think to prepare your tax return for the year ending 30th June - the due date...

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Why spending money to get a tax deduction doesn't work May 06, 2022

When you spend money, if it is in relation to your work, or creating an income, that money then becomes tax-deductible.

Some people say that having a negatively geared rental property is great because you will get a refund at the end of the year.

Let's unpack that.

1. A negatively geared property...

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Profit is a Habit, not an event Apr 29, 2022

 Did you know that business owners need to get paid for their business too?

If you have read the Profit First book (or heard about it) you will know that the basics of the Profit First method are to set up bank accounts to split up your money, so that you don't spend it all on stuff.

It's...

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6 things about tax deductions you probably don't know Apr 21, 2022

Tax is complicated, and we are here to help navigate your taxes easily.  So we thought we would share some of our tax agent secrets about tax deductions that you may not have known about.

1. You can claim the costs for maintaining your tax affairs.  Whilst this means your tax agent...

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