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  • Why Every Small Business Needs an Accountant


    Managing a small business can provide both gratification and difficulty. Business owners are tasked with myriad responsibilities, from managing employees to marketing products and services. One of the most important aspects of running a successful small business is maintaining its financial health. As a business owner, it's crucial to keep track of your finances, but this is easier said than done. Without proper accounting skills, it can be difficult to know where your money is going or if you're making a profit.
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  • What You Need to Know About Depreciation When You Own a Rental Property


    If you are a rental property owner, it's important to understand how depreciation works and how it affects your finances. Depreciation is a non-cash deduction on the income of rental property owners and can help reduce the amount of tax you need to pay. What do you need to know about this procedure, and who should carry out the work for you? What Is Depreciation? Depreciation is an allowance that permits rental property owners to deduct part of the cost of purchasing and improving their properties from their taxable income over time.
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  • Accounting Services: An Introduction


    Maintaining accurate financial records is essential to the success of any business. That's where accounting services come in. By using an accountant, you can ensure that your books are always in order. This article is an introduction to the different types of accounting services available so that you can find out exactly what they can do for your business. Read on to discover more! Bookkeeping A commercial accountant can play an important role in the success of your business by providing bookkeeping services.
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  • How to Get the Best Result If You Want to Sell Your Lifestyle Business


    Several million Australian baby boomers will retire in the next few years, and if you've been running your own business all your life, you may be thinking about joining them. Yet, you may not simply want to close the doors and walk away but want to make sure that your business is given to a safe pair of hands. How can you prepare for that momentous day, and how can your accountant help you to get across the line?
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  • How To Get on Top of Cash Flow Once and for All


    As a small business owner, you may work long hours, provide great service and have a good reputation. However, it appears that you are still struggling to make ends meet and may frequently run into issues with cash. How could this happen, and what can you do to make life a lot easier? Cash Flow  In most cases, problems like this are caused by an inadequate cash flow. You may have heard of the term and realise that it is an accounting issue, but are unsure how to manage the situation properly.
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  • Does Your Tax Return Match What the ATO Expects to See?


    While nobody likes to fill in a tax return at the end of the financial year, this is no reason to breeze through the task as fast as possible to get it out of the way. It's crucial to be as careful as possible to ensure that you are minimising your tax liability and claiming the proper credits—and avoiding any potential audit from the ATO. It's also important to be realistic and believe that the authority will never audit the "
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  • Scenarios In Which A Sole Proprietorship Needs A Commercial Accountant


    On the face of it, running a small business — especially a sole proprietorship — can seem like an easy undertaking. However, nothing could be further from the truth because people start businesses with growth in mind. Therefore, hiring a commercial accountant is critical to ensuring the success of your business. Notably, some sole proprietors have a background in basic accounting, while others use simple accounting software to ease bookkeeping. However, even if you understand a little bit of accounting or use accounting programs, some circumstances call for a commercial accountant.
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  • Essential Tips for Filing Tax Returns as a First-Timer


    Paying taxes is both a moral and a civic duty, which every person who earns an income must undertake. Unfortunately, most people who do not prepare well for tax return filing are always quick to complain about the complexity of the process. Consequently, new employees develop a phobia for preparing tax returns from the word go. Nonetheless, there is no need to dread the process, even if you are filing tax returns for the first time.
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  • Why You Should Avoid the Digital Trap When It Comes to Bookkeeping


    More transactions than ever are taking place in the digital realm these days. In fact, many traders try to do away with paper transactions altogether and simply send invoices, receipts, statements or notices online instead. If you're a small business owner, you may think that this is a great idea, as it will certainly help to cut down on that mountain of paperwork that sits in the corner each month. Yet as annoying as this paper may be, it may nevertheless be essential, and you may run into problems if you try and eliminate it altogether.
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  • Why Profit and Cash Flow Are Two Very Different Things


    If you're relatively new to the world of business but believe that you have a solid idea to bring to the market place, you may have done quite a lot of research to ensure that your product or service will actually sell. Along the way, you may have worked out how much it will cost to generate your saleable commodity and be fairly sure how much you can charge when everything is ready.
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