Small Business Accounting Services.
Saving you time to work on your core business
Running a small business is a full time operation. Getting the time to do the paperwork can be very difficult and stressfull. Taxgenius provide customised packages so you can outsource any part of your accounting tasks. This helps your time mangement and allows you to concentrate on your core business activities. We also offer complete small business accounting services so that you can just pass the whole accounting process over to us. We assign a qualified small business accountant to your business giving you continuity and a personal contact. Your account manager knows you and your business providing an efficient and friendly experience.
- Small Business Tax calculations and your Business Tax Return
- Your own personal qualified Small Business Accountant
- Bookkeeping – Customised packages for the amount of tasks you outsource to us.
- Types of Business Structures – Is your business correctly structured for efficiency?
- Calculations for GST Returns and GST Refunds – Business Activity Statements.
- Financial reporting – Profit and Loss, Inventory, Income and Expenditure…..
- Payroll calculations – PAYG and Superannuation
- Company analysis and forward planning advise
Small Business Tax Return
Our fully qualified tax accountants work with you to maximise your deductions and minimise your tax liability in preparing your business tax returns. Your tax deductions rely on our knowledge of what is deductible and your relevant paperwork. Our number one tip to customers is keep all receipts for all your purchases. You never know what may be a deductible expense. Your tax efficiency is also dependant on you business structure. TaxGenius will advise you on the structure that best fits your current trading and how you expect to trade into the future. Throughout our conversations with you we will advise you on how to be tax efficient and provide a cost effective way forward.
We are experts in leading industry small business accounting software and the new cloud based software too. If you are not using any such software we can setup a suitable package for you. These software applications do save time and that means they save you money.
Your tax efficiency is the start of our relationship with you. For Tax planning we use the data to provide you with a structure for the years ahead to provide wealth creation and financial security. By advising on what will be the most effective way forward you can concentrate on what your business needs to grow in an informed way. We will set out a pathway for maximising tax deductions, tax effective investing, distributing income to your family effectively.
Bookkeeping Services for Small Business
In helping hundreds of small businesses we have discovered that not every company works in a similar way. Some get time to enter data on Sales and large purchase items but just never keep up to date with the day to day expenditure. Fuel receipts, office sundry items just get set aside for another day. This normally means that when the time arrives to provide all the required data for a business activity statement nothing is prepared on time. This can result in extra costs and potential delays in any GST rebate that might be due. As a result TaxGenius have adopted a totally flexible approach. Simply, we create a package around the accounting tasks you want or need us to do. This can also be flexible from month to month or quarter to quarter. Over a period of time we will work together to ensure a cost effective, on time, streamlined approach to your bookkeeping.
Alternatively you can choose a complete package where you simply get us to do your complete bookkeeping and record keeping. This ensures you are always returning your BAS Return on time and your annual tax returns are a straight forward process. Whatever you choose you can be assured you will always have a qualified bookkeeper on your account and you can talk to us at anytime. We will advise you on how to improve your financial position whatever package type you choose to use.
Our Bookkeeping for Small Business service is there to use in the most effective way you feel it integrates with your own workflow. Feel free to ask any questions you like without obligation.
In Australia there are 4 common types of business – Sole Trader, Company, Trust and Partnership. For each type there are advantages and disadvantages. For example as a sole trader you will have fewer reporting requirements and you would not need to setup a business bank account but you are liable for all loses and your personal assets are at risk if things go wrong. A company structure is more regulated. You have to register for GST if your income is over $75,000. There are startup and running costs. You need a company bank account. You do have limited liability if things do go wrong though. You can discuss all the implications of your business structure with us or your lawyer. You can read about these structures at the business.gov.au website
Contact us with No Obligation
You can contact us about any questions you may have about Small Business Accounting. We will get one of our qualified team to discuss the issue with you without any obligation whatsoever. If we can help you decide on the way forward in any way, we will be absolutely delighted. By the way no question is a stupid question so ask a way!
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Small Business Accountants Sydney
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