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Online Assignment Help Australia

Online Assignment Help AustraliaOnline Assignment Help AustraliaAustralian Assignment Help offers... read more

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Questions

How far ahead should we plan to approach potential investors etc, for money to get the business started?

That is, when you business is still an idea in formation (as ours is) how far ahead should I... read more

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Ava Lee at Swing
Neil SteggallPartner at Wardour Capital Partners
I would suggest that the issue of investor funding and your required levels of future equity should form a key part of your initial business thinking, planning and strategy and be detailed and factored into your plan and budgets. Waiting until investor funds are needed is usually too late and the business risks stalling or failing.Most investors are happy to be approached at an early stage of thinking, they have much to gain by investing in a winning idea and so they will most likely be prepared to offer help in developing your plans, speaking to banks and even bringing along other investors.Early stage investors also make great business mentors or advisory board members often bringing on board many years of experience and knowledge.Look at it this way....would you jump in your car and set off on a lengthy road trip without first checking you had the fuel and cash to complete the journey?Good LuckCheers,Neil.
Jessica McGrathMarketing Consultant at Stoke Marketing
Not a definitive time but think like the investor. What value would they like to see in your product to make it worthy of investment? Have you got "skin in the game". Show how much effort? What are the $ for? What makes your product different and appealing to gain traction in the community. Show them this and either the tangible product or a prototype, or the service offering at the least. Show them what problem you are solving and why it's an awesome and compelling solution. Who are you competing against. If no competition, then why would someone want your solution if they are existing with no solution at all. When is a return on investment likely? What's your forecasted uptake? How did you work that out?Just some thoughts. Best of luck!
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What can i do now to prepare my business for tax return?

Asked by:
Tim HoopmannOwner at Cornerstone Group
Hi Ananda, It’s great to see that you are planning ahead – you are already setting your business up for success! In terms of ensuring you are prepared for tax-time, you basically need to make sure that your bookkeeping is up to date.In terms of managing your books, the easiest way to do this is via a cloud accounting platform such as Xero or Intuit QBO as it is the accounting platform that contains all of that data relevant to your business. A cloud platform such as this will allow for you to:Maintain all your business financial records in one locationInvoice quicker so that you can get paid fasterEliminate the need for manual data entry as all of your transactions are pulled directly from your bank every dayIntegrate with cloud add-ons such as Receipt Bank that help to simplify your business processHave real-time access to accurate dataBy ensuring that you keep up to date with your bookkeeping you will have the complete story for you accountant in one location. This means you will be prepared well in advance and remain ATO compliant.Please contact me if you require any further information and I hope this has helped.
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Questions

How much do accountants charge to complete tax return for a small business?

Hi Justin,As a biz owner you should be able to view your accountant as an investment rather than a fee. Many accountants will give you a fixed price too. There is a great report talking about it on the link. Hope this helps, Cheers, Lisa. http://accountantsadelaidesa.com.au/
Hitesh MohanlalDirector at WOW! Advisors & Business Accountants
Hi Justin.It is actually a difficult question to answer. To a point I agree with Dionne but it really does depend on a lot of things. There is no magic formula. The type of business, the industry, the number of transactions, the quality of the bookkeeping. It also depends what you classify as small. A business with a turnover of $1m is small. So is one that generates $10,000. But the fee is likely to be very different. However, I also advise that the fee is only one part of the equation. The other side is the value you are getting. I rarely quote on just doing the return. We are always looking to make cost or tax savings for our client because there is value there. So if you received a quote for doing tax returns and one is $1,250 and the other is $2,500 on the face of it the $2,500 is much more expensive. But you might find that if you spend $2,500 they spend more time on your affairs and they might find you savings of $5,000. It then makes sense to spend the $2,500. At the end of the day it depends what you want too. Cheap fee or a service that gives value. My advise would be speak to a number of tax agents and see what they can offer and see if it is what you want
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What are your experiences with free accounting software?

Speaking to the business owners and/or managers, what accounting software have you chosen for your... read more

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Jef LippiattOwner at Startup Chucktown
There are two free accounting apps that I've tried and liked. Currently using a spreadsheet because one doesn't have integration with my current bank.Wave Apps (https://www.waveapps.com/)More than just accounting is available (invoicing, receipts, payroll [not free], and more) but it is free and very intuitive. Again the only let down with them at the moment is that my current bank (small local/region) isn't supported within their API.Manager (http://www.manager.io/) - the self-hosted (downloadable) version is completely free. Something else that is a nice surprise with this program is that is really is cross platform (available on Windows, Mac and Linux) - great bonus points. They also do offer a cloud version that has some cost associated with it (unless your accountant is already using it).Not sure if either have the needs for the Australian crowd, but if you haven't heard of them before you should at least check out how they stack up against what you currently use.
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Cashflow management

5 Simple Ways to Reduce Office Expenses

Your regular office expenses will have a direct impact on your business's profit margin. Therefore,... read more

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Jef LippiattOwner at Startup Chucktown
Good read and ideas, thanks for sharing.
Cashflow management

Is Cost Cutting Now Costing Your Business Later?

In business and in life, there are two kinds of people. A folder or a scruncher. Pasta twirler or... read more

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Accounting

3 Benefits to Setting Up Your Business Accounting Systems for Success

When I created the accounting firm Inspire CA, I wanted to make sure that the businesses we worked... read more

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Ben Walker Chartered Accountant at Inspire CA
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Questions

Contribution

Hi, What is the name and email address of the person contributions are sent to? Thanks/... read more

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Jeff Gordon Principal at Prestige SME Business Solutions
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Accounting

Small Business Accounting Grows Up … And Other 2016 Trends

Small Business Trends Events Influencer Awards Book Awards Marketplace RSS Pinterest...read more

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Cashflow management

How Small Businesses Can Leverage Currency Fluctuations

Whether you have an international or local business, it’s likely you’d still be affected by... read more

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Iona Yeung Digital Content Specialist at FIRST
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Business finance and loans

HashChing: E-Business Radically Reshaping The Future Of Mortgages

A quiet revolution Is happening online that could challenge the major banks’ home loans... read more

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Jef LippiattOwner at Startup Chucktown
Sounds like strides of progress, keep the momentum going.
Superannuation

Buying Property Using Superannuation: Is it Possible?

                    The superannuation fund is a sleeping giant for many Australians, a... read more

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Questions

What are the ground rules for SMEs while dealing with the current market scenario?

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Taxation

Be Honest and Stay Out of Jail

Attached is "Stay Out Of Jail Card" There are some days (very few) in my life when I hate what I... read more

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Hitesh Mohanlal Director at WOW! Advisors & Business Accountants
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Jef LippiattOwner at Startup Chucktown
I can't relate specifically to Australian tax law as I don't live or operate there. What I can say is that keeping track of tax here in the United States isn't much easier. I'm great at complex math, but not at staying on top of tax law changes or what needs filed where. I'm looking into getting a bookkeeper myself.
Questions

How will you adapt to market networks?

This is a good article outlining the changes in the marketplace - http://techcrunch.com/2015/06/27/from-social-to-ma...
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Budgeting and forecasting

Is the size of one's salary the key to happiness?

Skip to navigation Skip to content Help using this website - Accessibility statement JavaScript...read more

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Business finance and loans

NAB flags $25m refund to 62,000 customers

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Accounting

Depreciation Fundamentals

Depreciation is a concept that is often not fully understood by many business owners. Let’s start... read more

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Accounting

Important Things to Consider When Switching from Sole Trader to Company

Your business has outgrown your sole trader structure Many small businesses start out as sole... read more

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good practical advice