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Accountant Balcatta

5 WAYS TO MANAGE A CASH CRUNCH

A little while back we went through the one report I believe every business owner needs right now, which is known as a 13-week cash flow forecast.

The insights from this report will help you be decisive and allow you to act, giving your business every chance of meeting these challenges head-on.

Are you confident you have enough cash in your business for the next few months?

What business owners need to know about a cashflow forecast

There is no doubt that many businesses are going through challenges that seem insurmountable at the moment.

One report I recommend every business owner should look at is a 13 week rolling cashflow forecast.

This will give insights on the potential cash coming in, and cash going out of the business over the next few months. Importantly it will indicate where the gaps might be.  

5 simple steps in setting up your self-managed super fund

Superannuation

Welcome to our final blog in our SMSF series! In part one we discussed the main things you need to know if you’re thinking about having an SMSF.

In part two, we outlined the top 7 mistakes we see in running an SMSF, and how to avoid them.

We close out the series by briefly outlining how you can go about setting up an SMSF.

Want a Self-Managed Super Fund?

Here’s part 1 of a 3 part series on what you need to know…

Self-managed super funds (SMSFs) are often a topic for discussion when there’s an asset boom like there is right now. Everyone feels like an investment hero when the tide is rising but you need to keep your wits about you, and SMSFs are no exception.

3 reasons credit cards suck and what to do about it

I’m not going to lie to you, I hate credit cards with a passion!

When the average interest rate for a home loan is sitting at a paltry 2.5%, credit card providers are still charging 20%. Yes, SERIOUSLY 20%!

Pandemic DAY TRADING surges …but don’t give away your profits to the tax man!

The share market has risen 35% in the past 12 months so anyone who’s owned shares has enjoyed the meteoric rise.  The volatility in the market has brought out the day traders in droves.

Too many traders don’t consider the tax effects of their actions whilst at the same time bragging about the gross returns.  But those returns can be heavily impacted by the frictional costs of transactions and taxes.

Would you drive your car blindfolded?

How long would you last before you crashed whilst driving blindfolded? The answer is obviously not long. Even if you knew the road and drove it every day you’d still crash within a short distance.

Yet hundreds of thousands of small business owners run their business’s exactly like that because they have no optics on their financials. No optics, no direction, no destination!

It’s time to sex up superannuation!

International Women’s Day on Monday highlighted the 30% difference in retirement savings between men and women. But let’s try to even things up…

7 motor vehicle expenses to save you thousands of dollars in tax!

As house prices rise on the back of ridiculously low interest rates, the next area of growth will be ‘new car sales’ as home-owners feel wealthier and splash out.

Booming property, flatter shares and cash is no longer king!

You may have noticed that the share market has taken a breather in the past few days and property continues to rise.