by Xact Accounting | Oct 24, 2018 | Accounting, Bookkeeping, Tax
No business owner looks forward to a letter from the taxman requesting a closer look at the books. If you’ve received an audit letter – an official request by the tax office to review your accounts and confirm details you have lodged to date – don’t panic. Prepare....
by Xact Accounting | Oct 20, 2018 | Accounting, Bookkeeping
It’s been said that a business partnership is a lot like a marriage, and the comparison holds true when things go awry: the end of a partnership is a lot like divorce. Lawyers will be involved and assets will need to be divided. However, a separation need not be...
by Xact Accounting | Oct 16, 2018 | Business Planning, Performance Reporting
Ever dreamed of starting a family business? Investing in a franchise opportunity with friends? Businesses owned and operated by families can have incredible staying power. Volkswagen, Samsung, and Nike – all family-owned companies – are among the world’s...
by Xact Accounting | Oct 14, 2018 | Business Planning, Profit Coaching
Just because you need to earn a profit doesn’t mean it’s in your best interest to serve everyone who walks in the door. Here are a few ways to respectfully sack a client who isn’t an asset for your business Ask anyone who’s been self-employed for a few years. By and...
by Xact Accounting | Oct 12, 2018 | Accounting, Tax
WARNING TIME The Australian Taxation Office (ATO) is closing in fast on everyone who doesn’t properly declare their income and pay the correct amount of tax. The organisation conducts a tax audit when a more in-depth examination of the issue is required. As your...
