In uncertain economic times, small businesses must make strategic adjustments to stay resilient. Here’s a summary of proactive strategies to navigate challenging periods: Enhance Cash Flow and Reduce Reliance on Debt Collect Receivables Promptly: Regularly follow up on late payments…
Using money or assets from your company or trust for personal purposes can lead to significant tax consequences if not handled properly. It’s essential to ensure that these transactions are accurately accounted for to avoid unintended liabilities. Here’s a breakdown…
Running a small business can be demanding, and having a tax professional assist with your tax obligations can make things easier. Here are some tips to help you make the most of your collaboration with a tax professional: Maintain Accurate…
As a small business owner, protecting your systems from cyber security threats is essential. Here are some simple things you can do to keep your business and clients data safe from cybercriminals. Ensure that all software and app’s are kept…
It is important to remember that whenever claiming business expenses in your tax return as a deduction, you must have the records to substantiate your claims. There must also be records as to how you worked out the business use…
As governments begin easing restrictions in stages, businesses will recover at varied paces based on geography and industry. Access the CPA Australia tips, checklists and templates to help start your business recovery here Source: https://www.cpaaustralia.com.au/-/media/corporate/allfiles/document/covid-19/road-to-recovery/small-business-covid-19-recovery-toolkit HOW TO BEGIN YOUR ROAD…
As part of the Victorian Government’s $3 billion Business Resilience Package – the government is providing $20 million to help business build digital capability in their day-to-day operations. The Small Business Digital Adaption Program is now open. Through the program,…