Success is one of the hardest things to recognise. Not because success is rarely achieved, but because it is so often unclearly
defined. Intentionally setting the time to do an objective year-end annual review is one easy way to increase your chances of
recognising success in this year and to set yourself up for success in the coming year.
Annual reviews are a powerful business tool. They provide insight into the past year through analysing metrics and other data.
While the financial review is a valuable tool on its own, business owners have an advantage they should utilise when they conduct their annual reviews. Involving a strategic business accountant can provide additional insights into the past year and help shape goals and metrics for the new year.
Five areas most visited in financial reviews are:
Business owners know what they want from their business, but sometimes they forget to define what that is. An annual financial review with
your accountant is a great chance to have a fresh set of eyes looking at the books and asking questions. Use those questions to define your
next year and enjoy feeling more successful as a result.
As you may already be aware, from the first pay period commencing on or after 1 July 2016, the national minimum wage will increase to $672.60 per week, or $17.70 per hour.
Thinking about renting out your personal or holiday using Airbnb or a holiday agent?
In May 2015, the ATO released official guidelines informing Airbnb hosts of their obligations to disclose any money they make from using the service.
The team at SMART have summarised our take on the budget and how it will impact locals on the Mornington Peninsula.
Victorian Treasurer Tim Pallas handed down the Andrews Government’s second Budget yesterday and while it doesn’t always get the same amount of media attention as the Federal budget, there are certainly some items that small & medium business and high net worth individuals need to be aware of.
Time is ticking with not much time left until SuperStream becomes mandatory, employers are being urged to cross SuperStream off their ‘to-do’ list ahead of the 30 June 2016 deadline.
The ATO has issued a timely reminder before the end of the financial year on the changes announced in last year's Budget.
Listen up! The word on the street is that big changes to superannuation might be introduced on budget night May 3rd. If made they will come into effect as soon as the announcement is made, leaving no time to react to the changes. We’ve got the low down on what’s expected and how it might impact you.
What if you can’t be there? Have you got someone capable of running your business? Do they have the shoes to fit ?
Most people will quite literally earn millions of dollars in their lifetime. Yet many people struggle financially and live from one pay period to the next.
A Trap That Causes Many Businesses To Go Broke, While They’re Making a Profit
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.”
Treat finding an accountant like speed dating. Life is busy, you need your accounts looked after and you don’t have time to wade through all the possible suitors. You know what you’re looking for – someone who is on the same page as you, who’s going to hit the deck running and who’s going to make your life easier with them in it.
Following many requests from clients SMART Business Solutions has now started a dedicated bookkeeping division offering you the opportunity to spend more time on your business and less time with the nitty gritty of bookkeeping
SMART Business Solutions are proud to have been awarded several significant awards recently.
We are extremely proud to announce that Shannon Smit, has been appointed to the Board of Taxation’s Advisory Panel for 2016.
Don’t be left up in the air by traditional IT solutions. Check out our top 10 advantages for small businesses switching to cloud computing.Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages.
We are frequently asked questions about obligations for WorkCover and Payroll tax. In this article we explore the details, cutting through the legal jargon so you can gain a greater understanding of how it effects you and your business.
New Year’s Eve is famous for the New Year’s Resolutions people make to better themselves in the coming year. What about your financial future? How can you ensure you stick to your resolution?
Small business owners have a lot to think about: sales, staffing, customer service, vision, growth, the list goes on. In fact, it is hard not to think about your business when you’re a small business owner. Perhaps the one responsibility you would rather not think about is bookkeeping/accounting?
Some business owners try to avoid the hassles of accounting by simply ignoring the problem. “I’m too busy,” they say, but no business can hide from accounting. If late lodgement penalties aren’t motivating enough, hopefully the knowledge that you have basically no visibility into the vital indicators of business health will be.
Sure, there are online tools out there to make the process less burdensome, but could your time be better spent? And while you might think that a part-time bookkeeper might solve your problem, it really depends on your needs, and there are downsides there too.
HERE ARE what we think are THE TOP 5 REASONS TO OUTSOURCE YOUR bookkeeping to SMART Bookkeeping Solutions in Mornington
We often hear from clients “I often forget to send invoice reminders or statements and invoices are falling through the cracks, can Xero help with this?” Easy, of course it can!
It's time to celebrate! SMART Business Solutions are pleased to share with our clients some exciting news. The Finalists in the Australian Accounting Awards have been announced with the team being successful finalists in the following categories
- Best Marketing (you know we always try to be different!) Shannon was also interviewed http://www.accountantsdaily.com.au/breaking-news/8605-accountants-must-touch-their-clients-12-times-a-year
- Accounting Student - Well done Hayden!
- Office Administrator - Awesome effort Nicole!
- Partner of the Year - Shannon Smit for both Transfer Pricing Solutions & SMART Business Solutions
Quality Matters – Independent review with outstanding results for SMART Business Solutions
Paying an accountant to handle all of your financial reporting can be expensive, but if you have several different sources and deductions or if you own a small business, it can be worth it.
Is your business thriving, but you struggle to maintain positive cash flow?
Don’t let it crumble from underneath you
It’s nearly BAS time again - tips to make BAS processing easier
BAS time seems to come around quicker and quicker! Here are some tips to try and make it a little easier!
With June 30 quickly approaching we are pleased to provide our year end checklists and questionnaires to help you get organised.
ONLINE WEBINAR
23 February 2023 // 12:30pm
In our upcoming webinar we'll be diving into some common exit
strategies for successful succession planning, the pros and cons, and what you need to consider before making a decision.
You’ve worked hard for what you have – it’s time to protect it for the next generation.
ONLINE Webinar: Insurance Stripped Bare - What you really need to protect your assets
It doesn’t matter how much you have. It’s what you do with it that counts.
Not just for young entrepreneurs, this webinar is designed for anyone who is within their first 2 years of a new business to ensure you've got the most important operational, legal and financial structures in place.
Taking time to ask yourself the big questions can be daunting and empowering at the same time. Understanding and prioritising your goals and needs is a valuable step.
With many of our business community made up of building companies, building suppliers and trades people, this is an issue bigger than ProBuild itself. The ripple effect of the demise of such a building giant will leave many of us asking the question ‘how secure is my business and my livelihood?’
In this webinar we will go through tax effective strategies that can achieve a net-benefit to your employees without costing you more.
The impact of Covid-19 and the associated lockdown has made it more important than ever to ensure, where possible, that you’re still getting paid.
If you're looking into investing into property, regardless if it's residential or commercial, there's plenty to weigh up.
To have the retirement of your dreams, you must plan ahead. The bonus is, the sooner you start thinking about your retirement life, the better opportunity you have of making those dreams a reality.
You've got a big block with big plans to subdivide in order to make big bucks. But do you know the ins-and-outs of property development from a TAX perspective? Before you jump in and commit to anything, it is important to understand the tax liabilities that might arise from your projects that will affect your overall profitability.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
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