Ever wondered if coffee meetings are tax deductible? Anyone who knows me, knows that I’m a big coffee freak. I have about 3 or 4 cappuccinos every day. My favourite coffee shop is Bellissimo. You’ve got to try it. It’s around the corner from Inspire and there’s also one around one from my house. […]
READ MORE7 Things Business Owners MUST Implement BEFORE June 30
We often find in business that many entrepreneurs and business owners are moments away from realising the potential that a few small changes in their modus operandi (or “method of operation”) can have on their business. This is without mentioning the amount of planning and strategy that can be used for significant tax savings if […]
READ MOREBusiness Structuring Made Easy! Part 5: Family Trusts
A trust is a structure wherein a Trustee (either an individual or company) carries on the operations of the Trust on behalf of the beneficiaries. The actions of the Trustee are governed by the Trust Deed, which details the rights and obligations of all parties. Trusts are a common structure choice for family businesses as […]
READ MOREBusiness Structures Made Easy! Part 4: Companies
Unlike a sole trader who essentially is the business, a company is a separate legal entity with directors who run the business and shareholders who own it. When business owners are interested in restructuring their business operations, the most commonly considered option is a company. This is usually because they believe they understand the way […]
READ MOREBusiness Structures Made Easy! Part 3: Partnerships
A partnership is a common and relatively inexpensive way to set up a business. It involves 2 or more co-owners (the partners) participating together in a business operation. In order for a partnership to exist the partners must have the intention of making and sharing profits, as well as an understanding that they will each […]
READ MOREBusiness Structures Made Easy! Part 1: The Basics
One of the most important decisions a business owner needs to make (after the name of the business of course!) is the choice of business structure. In fact, getting this choice right is so important that we begin the analysis of every potential client with their proposed business structure and we then work out from […]
READ MORE