Mobile Bookkeeping Castle Hill

Do you have a backlog of bookkeeping to catch up on? Do you know if your business is compliant?

FAB Bookkeeping Castle Hill can help!

30 June 2016 is nearly upon us and it is not too late for a bit of planning to see what your tax position for 2016 will be. With the recent Budget announcements and existing tax concessions, small businesses have a few tax breaks they can implement, provided it fits within their commercial / business profile.

More detail below in ATO link
https://www.ato.gov.au/…/concessions/income-tax-concessions/

Contact us to see how we can guide / direct you and your business.

FAB Mobile Bookkkeeping Castle Hill team.

Our free no obligation business check will provide you with a comprehensive report about the status of your business accounts. Use this free report to get yourself on track, review the effectiveness of your current admin systems and enhance your risk assessment knowledge. All work is discreet and confidential to you.

FAB Bookkeeping Castle Hill is available throughout the Hills area including

Castle Hill, Crestwood, Baulkham Hills and surrounding suburbs.

Contact FAB Bookkeeping on 1300 322 266!

Is it hard to start a business?

Yes and no – to be frank

Yes – as there are a number of items to consider – no point in starting out if you are not prepared to make it work and adapt.

No – for if you have planned it right, with the right mindset and that magic elixir PASSION then it can be easier (still hard work and challenging) but certainly easier.

As a small business ourselves – we know what this is like.

Allow us through this medium to go through the essential ingredients, each week that can assist to start your business.

Initial Capital (fancy word for Cash to set-up your business)

a) Research your idea

This starts with knowing your idea / plan / passion. All small businesses have started that way – from a brand new online concept to tweaking an existing business model / idea.

b) Note down your findings

This allows you to make your idea / passion real. Good to have in your head but easier to manage and see the challenges and opportunities when on paper.

Be as detailed as necessary. Amend, redo and rethink – it may take a few attempts before you are comfortable.

c) Consolidate your research / thoughts (bring it all together)

As a guide only, do the following:

i) idea : note it down (like a slogan);

ii) break down the idea – is it 1 good, is it many. Is it one item – with follow up renewals (annual, quarterly);

iii) how will you source the item – import the good, provide a service using tools, with knowledge;

iv) what do you need – stock, equipment, licencing, training, online capabilities (website, e-mail);

v) cost the above items needed – as you would expect many will have a price and note this down against each item and total.

That total of those costs is your Initial Capital.

This is step 1 – following steps to come next week – same day and around same time.

Please note this is not financial / investment or tax advice. It is guidance only.

Keep the dream alive!

FAB Bookkeeping Castle Hill team