#Brad Callaughan
Preparing for the EOFY: 12 expert tips
The end of the financial year (EOFY) is less than eight weeks away now, and it’s important small business owners know what tax obligations and changes need to be accounted for, before June 30.
Why every business should take reporting seriously
Having your accountant do your reporting might cost you a little extra, but there are a number of serious benefits to having an experienced professional look closely at important business figures.
Avoid business burn-out with a time out
Running a business can be all-consuming and exhausting, which makes it vital for SMB owners to take time out, recharge their batteries and keep the passion they feel towards their business blazing.
What you need to know about Fringe Benefits Tax
Putting systems in place to ensure data is captured and accurately categorised for FBT purposes throughout the year could save you and your accountant a big chunk of time and effort at the end of March. Here’s some expert advice to get you on the right track.
The how-to guide to tax planning
March is upon us again, and this means just one thing – tax season is near! Here’s what you should be doing now to prepare your business for the end of the financial year.
The 10 tell tale signs your business is under pressure
Sometimes it can be difficult to see the bleeding obvious, even if it’s right in front of your face. This can be especially true for business owners, whose judgement can be clouded by the very nature of their relationship with their business. So, here are the ten early warning signs your small business might be under pressure.
Build a culture of communication and enjoy the benefits
Communication, delegation and good team relationships are the basis of a good business. How well are you communicating with your employees?
Don’t misjudge the importance of a good accountant
Every small business owner needs a good advisor and many need help to stay on top of record keeping, which is where a good accountant can lend a hand.
Six tips to get your 2012 finances in order
2012 has kicked off the same as most New Years’ do – with plenty of talk about setting goals and getting various aspects of your business in order. The trouble most people face is knowing where to start, so Brad Callaughan has put together six easy ways to get the 2012 year off on the right financial foot.
Get your new year goal setting off to a good start
The New Year is a perfect time to begin setting business goals, and Brad Callaughan has some advice about how to actually achieve them this year. “Remember, your goals don’t have to be a secret, tell someone close to you so they can keep you on track to achieve your goals.”
12 golden accounting tips for your business
Brad Callaughan imparts 12 golden tips for getting your numbers right now so you can start the new year with a bang.
A look at what the carbon tax really means
Brad Callaughan blogs about what the carbon tax really means for small businesses. “Talking to businesses, I sense a lot of unease about this new tax and the lack of information out there that allow us to understand and prepare for this new tax…”
To fix or not to fix interest rates?
Brad Callaughan looks at whether you should be fixing your interest rate. “The RBA will need to cut rates to keep the economy going, especially coming into Christmas…”
Christmas gift-giving and the FBT
With Christmas approaching fast, Brad Callaughan looks at the Fringe Benefit Taxes payable on gifts to employees, suppliers and clients. “Fringe Benefits Tax is a tricky subject, and if not understood and addressed before you spend that money it could leave you a large hole in your pocket from the FBT payable.”
The pitfalls of having one client
Brad Callaughan looks at setting guidelines and schedules in your dealings with clients. “If you currently have one client that is taking all your attention you need to very carefully re-train them – this will involve setting boundaries.”
Promoting a positive work environment
Brad Callaughan blogs about creating a positive work environment for the benefit of your business. “Your business is only as successful as its staff, therefore, it is of utmost importance that you develop a positive work culture in your business.”
Tips for financing a car
Brad Callaughan looks at the methods a business owner has at their disposal for purchasing a car. “Buying a new car under your business can be confusing. With so many options available, which one do you go with and what will be best for you?”
Tips for increasing your profits
Brad Callaughan delivers 20 easy ways you can improve your business’ profits. “Raise your prices. You’ll be surprised how few complaints you’ll get about a 5-10 percent price increase. A slight increase each year is less noticeable then one large increase.”
Preparing your business for sale
Brad Callaughan blogs about the preparation that goes into selling a business. “Selling your business shouldn’t be a spur of the moment decision. Succession planning should be looked at over a number of years to determine the best road forward. Not only do you have to decide on either passing your business down or selling it but you also need to look at the tax implications…”
Should you ask for referrals?
Brad Callaughan blogs about the right way to ask for customer referrals. “There’s no harm in discussing your services with client or customers. Constructive criticism is a fantastic way for you to see how your clients feel about your services, because they’re the people that are talking about your business…”
What you need to know when employing
Brad Callaughan has a checklist for you to tick off when employing your first employee. “Congratulations! Your business has grown to the point where you require your first employee. Apart from finding the ideal employee, you also need to fill out some relevant paperwork and make sure the correct registration and insurances are in place.”
Have you considered property investment?
Brad Callaughan has some tips for business owners looking to turn their hand to property investment. “For property investors, there’s always an element of risk about what might happen. To take full advantages of the opportunities property investment offers, you really need to overcome that fear.”
Getting your business structure right from the get-go
Brad Callaughan blogs about choosing the right business structure from the very beginning. “As a general rule, you need to look at the future projection of income you expect to earn. If you’re starting a small business that contains no risk and you’re looking at not exceeding turnover of $75,000, I would be comfortable for a start-up to operate as a sole trader or partnership.”
Differentiating your business
Brad Callaughan blogs about creating a point of difference between you and your competitors. “It could be that you promise to deliver your product or service more quickly than your competitors. If you wish to differentiate your business on this basis then offer a guarantee, to ensure you deliver.”