When used right, high quality accountants like Accountants Perth have the potential to save your business a lot of time and money. They can help you keep your books in order, can help you minimise your taxable income and maximise your tax deductions and may be able to help you increase your profits.
However, accountants can also be expensive. As a small business owner, it is important to get the most benefits you can out of every dollar that you spend. A few simple tricks can help you get more out of your accountant. Our top 5 tips for getting the most out of your accountant include:
- Recognise your weaknesses, and let your accountant help
While a lot of small business owners do all of their bookkeeping and tax paperwork on their own, this simply isn’t a cost-effective way to operate. Unless you have some sort of accounting background, you will probably take a lot longer to do things than a qualified accountant would. Let them look after the financial side of your business, while you put your time into making sure you are bringing in the most income possible.
- Keep good records
If you only use your accountant at tax time, you can help them spend less time on your tax return by keeping good records throughout the year. If you have everything written down and recorded in some way, all your accountant will have to do is enter information into your tax return and submit it. This will cost significantly less than it will if they have to actually search through piles of paperwork to find the information they need.
What does dress sense have to do with your dream job? When you are just starting out on the corporate climb it is essential to dress in an appropriate manner. Even before your toe is in the door it’s important that you establish the dress code for your particular industry and ensure you stay up to scratch with it at all times. Some women go to the extreme of having botox treatment – otherwise known as wrinkle relaxers, to ensure they don’t get wrinkles; others make sure they have the right kind of dress sense.
You can’t always help having a wrinkle or two, but you can help not dressing for the job, so of the two, the latter might be the most important, especially when you are young. When you’ve studied and trained for years to get into the business or career of your dreams, it seems a shame to spoil your chances simply because you turned up for that first interview looking like something the cat dragged in.
Running a business brings with it a lot of responsibilities and hard work and sometimes things go wrong. Often disputes arise between the directors and shareholders or between the shareholders themselves that can only be settled by consulting commercial lawyers. Commercial Lawyers Perth advise that it is important to try and settle the dispute outside of court because the judge has the power to wind up the business completely if they think this is the only way to settle the dispute.
Consider the case of two or more friends who started a business together and didn’t even think about drafting up an agreement about what would happen if one partner wanted out, or what would happen if one stopped pulling their weight. Often the problem may have been allowed to go on for months or years until bad feeling becomes set like cement and the two cannot work together any more.
The best way to settle disputes is to tackle them when they first arise, rather than letting them get out of hand. Dispute negotiation and good communication between those involved can often resolve the matter. If it does not, mediation with neutral third party to calm tempers and see that justice is done can sometimes bring agreement. When this, too, fails it is time for judicial arbitration. Unfortunately, at this stage the parties have to comply with the judgement passed down, even if it is to wind up the business.
If you want to lease a corporate property for your business it is wise to have property lawyers look it over to ensure it has no unfair clauses that will make life hard for you. Most such leases are in favour of the landlord and are written up by his or her lawyer. So it is imperative that when searching a lawyers list for a lawyer that the law firm that you choose studies the lease too. Meanwhile here are 9 tips for leasing corporate property.
- Budget is a major concern with leases because it can be your biggest expense. While you have a budget for the lease, your landlord may be allowed to increase it, so watch for this; it should be written into the lease. The landlord may also want to charge you for part of the maintenance, repairs, upkeep and insurance. A gross lease may include these things, while with a net lease there will be a separate charge.
When you start a business you’ll find there are many legal parts that have to be complied with before the business can start operating. You will need to consult with lawyers to ensure everything is setup correctly. But you may not have realised that as the business goes forward you will be highly likely to still need the services of a Perth Lawyer from time to time.
For instance, you may decide to expand the business into another direction, take over another business and add it to your current one, or do any of the many options there are for making sure your business grows well. Even just drawing up contracts with new suppliers or clients is likely to need a lawyer to ensure everything goes according to plan.
Just like it is important with divorce proceedings to have highly experienced family lawyers that know you and your situation intimately, having lawyers that know you and your business and have been with you from the start will certainly facilitate matters. You won’t have to explain any of the basic details to them because they will already be familiar with your business and what it does. So there will be a good saving in time and you can be sure your lawyers will get everything right without too much discussion.
By keeping your lawyers, you’ll be able to consult with them at short notice if any problems should arise in the business. In fact, having a lawyer on hand will be more likely to prevent any problems in the first place, which is even better.
Just as when buying a house, if you buy a business there is conveyancing to be done if you are also buying the property the business is situated on. However, this is not always the case; in fact it is more likely that you will be purchasing a business – the rights, responsibilities and assets – and taking over the lease for the premises rather than buying an actual building or real estate. In either case it is essential to have a commercial lawyer look over all the contracts and ensure they are all in order.
When there is real estate such as land and buildings involved in buying the business it becomes a more complicated process because all the assets, rights and responsibilities are purchased along with the property. This means conveyancing is needed to transfer the land title into your name as well as the other components.
When choosing a digital agency for your online business it is essential to match the agency with your business model or your vision – or both. Some agencies only consider working with large companies, so if yours is a small or medium business you may not be able to budget for their rates. In addition, they would use marketing ploys that may not suit a smaller business.
To choose a digital agency that will suit you, you need to make a list of what you require and your proposed budget to offer them. They may then make a counter offer that explains the reasons why they think it would be a better option for your business. Since they are experts at marketing, they may well be right. What you then have to consider is whether you are willing to make this further investment in your business.