Category: tax accounting
Sturgeon’s 10% of Practices
If a Purple Cow practice is not achievable, then being part of Sturgeon’s 10% of practices would still be a worthy goal. This would ...
Practice Sin 1 – Failing to Reinvest in the Practice
The number 1 sin for an accounting practice is failing to reinvest in the practice. There can be the temptation in business to run ...
Tax Considerations with Investing in Property
When buying an investment property it is important to see your accountant first. Often buyers get a building inspection report and a pest inspection ...
SMSF Advice Options
At June 2015 the ATO advised that there were 556,998 self-managed super funds in Australia with 1,049,840 members. During the 2015 financial year 32,073 ...
Focus Strategies for the Accounting Industry
Two focus strategies for the accounting industry include narrow service line and customer segmentation. The narrow service line involves practices providing a very narrow ...
Accounting Practices Stuck in the Middle
According to Michael Porter the worst strategic error is to be stuck in the middle, or to try simultaneously to pursue all the strategies ...
Differentiating Your Accounting Practice
Differentiation is the process of distinguishing a product or service from others, to make it more attractive to a particular target market. The concept ...
Growth Pathways for Compliance Based Practices
Compliance based accounting practices that want to grow their practice revenue and be financially rewarded should: Firstly, recognise that the world has changed and ...
Digital Disruption in Compliance Practices
Unfortunately for compliance based practices, the technology and digital disruption affecting many industries is starting to impact on the compliance accounting practice. Compliance fees ...
Checklists Save Lives and Money
Every time you visited an accountants’ office, were you daunted by their comprehensive checklist with over 50 Items on it? A few would have wondered why ...