Posts by Tracy James

If you are in a high tax bracket this option could be an attractive option to boost your retirement savings.

I believe that if you don’t consult an accountant before starting or buying a business maybe you should not be in business.

Accountants, like all business owners, can become complacent and run down and destroy their practices profitability and eventual sale value. The four most common ways to destroy accounting practices are: Failing to reinvest in the business. There can be the temptation in business to run it excessively lean and draw all the cash out and…

As corporate immortality is impossible, instead companies need to focus on five things.

Compliance based accounting practices that want to grow their practice revenue and be financially rewarded should: Firstly, recognise that the world has changed and that compliance based services will not have the demand and profit margins that they have historically had. As the compliance fees revenue is stagnating or falling the costs of providing the…

Unfortunately for compliance based practices, the technology and digital disruption affecting many industries is starting to impact on the compliance accounting practice. Compliance fees in some practices are starting to fall year in year out, and for other practices basically stay stagnant. In either situation, both of these outcomes will reduce practice principals profits over…

Compliance services have traditionally, and currently still, account for between ninety to one hundred percent of the fees revenue of the majority of the twenty five thousand accounting practices in Australia.

Regardless of which visa you may have entered Australia; whether temporary or permanent employment, study, business or investment visa, it is essential for you to understand your tax compliance and obligations in Australia.

On average, 44 small businesses are closing their doors each day according to the Australian Bureau of Statistics data.