Monthly Archives: February 2016

Tax Accountants That Help You Save

Tax Accountants That Help You SaveWe are a team of business accountants in Parramatta, Sydney who specialise in helping small business and independently employed people with the greater part of their duty and accounting needs.

Our long established firm has built a reputation of development, trustworthiness and morals of an upmost standard. We have the clients we do today by placing our customer’s needs first. The bona fide positive estimations of our firm is based on the convictions of our tax accountants and tax specialists to utilise and add to the skills to convey just the best support of our customers.

We have an extraordinary business accountant team that are consistently prepared to give an outstanding and streamline experience. We think about our customers on a balanced premise and endeavor to guarantee we are giving a general administration that is customised particularly to our customer’s individual needs.

If you are searching for an accounting firm that can give a full scope of administration ( tax assessment, business administrations, review, superannuation, investment opportunities, capital planning finance and loaning), reach us here.

Considering who to trust with your expense form and other monetary issues. As your business accountant this is the reason we have come to let you realise that you can believe us with our years of experience and online reputation. Whether you require an individual government form or your business charges dealt with, we can do it all. Leave it to us and discover why we’re one of the most loved tax administration. We will obviously clarify your tax returns and also let you know that understanding the figures behind your business are so essential.

We can set up a free no commitment meeting with you to examine your requirements and give a fixed fee quote. We appreciate meeting business owners and independently employed individuals who are looking to get the most out of their accountants and we are all around to inform you with respect to the best tax position you could be in. If your business restricts your time, you can enjoy a consistent service instead of spending valuable time and energy managing individuals to handle your accounting.

Our services are aimed at small to medium size businesses. These services include:

  1. Preparation of Financial Statements
  1. Preparation and lodgement of taxation returns (companies, trusts & partnerships)
  1. Preparation and review of Business Activity Statements
  1. Preparation of Fringe Benefit Tax returns
  1. Dealing with all correspondence from the ATO to make sure that it is handled in a timely and efficient manner
  1. Year-end tax planning
  1. Tax advice and structuring

Visit http://www.taxsave.com.au/ for more information on our tax services.

Payroll Services – Get Customised Services

Payroll Services

Many employers opt to outsource their employee payroll services. Any kind of business or enterprise needs to properly manage salary payments of their staff. This includes a lot of other allied accounting like tax deductions, social security payments, insurance premiums and other compensations. Rather than take on such work with an in-house accountant, employers have the convenience of choosing a dedicated payroll service provider to manage all of it.

A professional payroll service provider offers customised service irrespective of the number of salaries they need to handle. Hence it is suitable even for households where payments to nannies or other caregivers need to be managed properly. These companies charge a fee for the services they offer but relieve the employer of a lot of accounting work. All that the employer needs to do is update the payroll service provider with employee details, hours worked and salary with variances if any. Payments are made either through direct bank transfers or through checks and the employer is updated with monthly statements and tax reports.

Service providers these days offer a whole lot of other services like tax payments, labor management and most of the paper work related to employee salary accounts thus simplifying tasks for the business. Once the service provider is chosen, the employer needs to provide them with employee data in a suitable format and payment timetable is agreed upon. Payroll service teams then process the data and ensure timely payout to employees.

Taxation can be a lengthy process and laws governing it keep periodically changing. The biggest advantage for employers while outsourcing payouts is that they need not keep track of such changes. Its not only deductions that need to be accounted for, remitting the taxes along with managing the employer part of tax deductions is also taken care off. Payroll service providers have a dedicated team of accountants to stay up to date with these laws and are trained to deal with different government bodies. The finance team of the employer is then updated with extensive reports about the various transactions. This thus reduces a lot of administrative work for the in-house finance team.

With so many benefits of outsourcing, employers need to choose the right service provider. A service provider with a proven track record of meeting deadlines with the best expertise in the field and a trustworthy team should be the best choice. Since they have access to employer’s financial data there is always room for malpractices. At no point should this be compromised. Services of a Payroll company that is credible and has a good reputation may cost a little more than the average one, but the employer can save a lot by means of their diligent accounting practices. Timely payouts to employees and tax remittances will only enhance the credibility of the employer.

5 Reasons to Major in Business Management

It can be extremely hard to pick a major when you start applying to colleges. You don’t have to know what you want to major in just yet, but you do want to have an idea so that you can start doing your research as early as possible. If you have a strong entrepreneurial spirit, you might want to study business management. Learning how to be a leader is a great way to ensure that you will have a bright future ahead of you. Here are 5 reasons to major in business management.

  1. Develop Leadership Skills

One of the best things about majoring in business management is that you will really learn how to be a true leader. No matter what field you decide to work in, you will know what it means to be at the head of any business and delegate work appropriately amongst the rest of the ranks – and wouldn’t you rather be a leader than a follower? In the end, if you have what it takes to see a vision through to completion, then you should be the one in the position of making the decisions.

  1. Higher Earnings Potential

No matter what industry you are in, if you have a bachelor’s degree in any subject, you’re going to start earning higher wages than your colleagues who don’t, if you even have any colleagues who aren’t college graduates. The point is, the average college graduate tends to make an average of $1 million more than non-college graduates over the course of their lifetime. If you invest properly in your retirement account, this could make a huge difference when it’s time to retire.

  1. Take Over the Family Business

Is there a business that has been in your family for a few generations? Have your parents always wanted you to take over the family business? If so, getting your degree in business management could mean the difference between making the business better and stronger, or watching the business slowly shrink and disappear. If you want to ensure that the business is safe in your hands, you want to make sure you get the proper education.

  1. Earn a Promotion

If you currently have an entry level job with a major corporation and you plan to stay with that company for a long time, then you could easily earn yourself a promotion by showing the company that you are serious about becoming more of an asset. By simply earning your degree in business management, you could quickly go from being a Starbucks barista, to being an assistant manager, or possibly even a manager. This means you will be working your way up the ladder and making a lot more money.

  1. Improve Chances of Getting into Business School

If you plan to go to business school, then you’re going to want to major in business when you earn your bachelor’s degree. You will be especially competitive in the admissions pool if you earn your degree from a prestigious school, like Pepperdine University. If you want to show the business schools that you are serious about your studies, you have to show longevity and commitment to your entrepreneurial talents.

5 Reasons to Get Your MBA

 

There are so many reasons why it could be beneficial to get your masters in business administration. It is a degree that is very prestigious and it will teach you skills that you could never learn otherwise. If you’re unsure of whether or not you are willing to go through the trouble, here are 5 reasons to get your MBA.

  1. Start a Successful Business the First Time

Let’s face it, most businesses fail within the first 5 years of their initial launch. We may live in a country that is built on small business entrepreneurship, but that doesn’t mean it’s easy. In fact, running your own business is one of the most difficult jobs in the world. However, it’s also the most rewarding if you really believe in what you’re doing. You want to earn your MBA so that you can have the wisdom and education needed to avoid all of the common pitfalls that other business owners fall victim to.

  1. Connect with Successful Professionals

As much as people don’t like to admit it, the people you associate with have a huge affect on where you go in life. So if you’re not associating with successful people, it’s going to be very difficult to be successful yourself. That’s why earning your MBA is so important. When you’re in business school, you will spend every day with people who are smart and talented like you. Therefore, you can feed off of each other’s intellect in order to improve all of your natural talents.

  1. Learn the Value of Teamwork

No matter what kind of a business you decide to run, you are going to need to appreciate the value of teamwork. Being a good boss means assigning the right people to the right jobs and keeping group morale up at all costs. When you are earning your MBA, whether it’s from a school like GW Online or an in-person program, you will have a lot of group projects that will help you to understand the importance of being a team player, no matter what your position in the company may be.

  1. Be Your Own Boss

If you have never worked well with authority, then earning your MBA will help you to gain all the skills that you need to start your own business and become your own boss. You’ll never have to answer to anybody but yourself, and you will be able to shape your entire company exactly as you envision it. Plus, you can work on your own terms no matter what.

  1. Move Up the Ranks

If you don’t plan to run your own business, an MBA can still be highly beneficial to you. There are a lot of people who are young and hardworking, but their bosses don’t want to promote them because they assume that they are too young and not mature enough to take on greater responsibilities. However, when you earn your Master of Business Administration you will be showing your boss that you are ready to take on the initiative to be a really great asset to the company.

5 Must-Know Tips for New Business School Students

If you’ve just been accepted to a business school, congratulations! However, there’s a few things that you are going to need to know before you jump into your first semester. This is the advice that will ensure that you don’t just earn a business degree, but that you earn a degree that you can put to good use. Here are 5 must-know tips for new business school students.

  1. Be a Self Starter

When you were earning your undergraduate degree, you probably didn’t have to be nearly as responsible as you will need to be in business school. Undergraduates get detailed project descriptions, assignment requirements, study guides and instructions. However, in business school, you will get short prompts for major assignments and you will need to do a lot of figuring out on your own. If you are not accustomed to relying on yourself for these kinds of tasks, then you need to change your mindset for business school.

  1. Have a Business Plan in the Works

No matter what bachelor’s degree you are earning, even if you are studying for Marylhurst’s masters in sustainability, you want to make sure that your post graduate plans are already in the works. In fact, you want to be applying all of the lessons that you are currently learning into your business plans so that you can see the real world applications and set them into motion before you forget them.

  1. Avoid Challenging Professors

You may be absolutely brilliant and see holes in the logic of one or more of your professors on occasion, but that doesn’t mean that you should necessarily point it out. You never know how your relationships with your professors could affect your future, which is why you always want to keep that rapport positive. Plus, there’s always a chance that you’re the one who is actually wrong, and you will need to listen a bit longer in order to understand.

  1. Connect with High Achievers

As the old saying goes, it’s not what you know, but who you know.  Not only do you want to try to connect with your professors, but you want to really form close bonds with your cohorts – at least the ones who show a lot of promise. These people could be great allies in the future, and there’s a good chance that one or two of them might be great candidates for helping you start your first business. So make sure you keep an eye out for them and start formulating ideas for future collaboration.

  1. Be Ready to Start a Business by the Time You Graduate

As stated already, if you are earning your MBA because you want to start your own small business, you should be developing a business plan from day one, and applying the lessons you learn in business school to that plan. The goal is to be ready to launch that business as soon as you graduate. This way, you can quickly set the wheels in motion and do whatever it takes to pay off your student loans as quickly as possible. You never know how long it will take to grow the seed capital, so start crowdfunding as early as you possibly can.