What exactly is “passive income”?
It is income that you are receiving whilst you sleep! Typically consisting of interest, trust distributions, dividends, rents, royalties and the like. It requires minimal labour to earn and maintain.
Are you just starting a business? Need help in sorting through all the procedural requirements?
Establishing your ABN or registering for GST? Wondering when or why to register for an ABN and/or GST?
Foster takes the guesswork out to avoid you getting queried by the Taxation Office. This is indeed comforting to know and be reassured.
This can be a very stressful time for anyone. We all want to ensure we don’t pay too much for a business or sell one too cheaply. Get the right advice before you make these major decisions.
Foster has saved clients thousands of dollars by introducing them to his specially designed checklists for starting, buying or selling a business. Those checklists contain vital issues and/or matters that he strongly feels should be incorporated in a Sale & Purchase Agreement.
Are you buying a job or a lifestyle? Are the financial figures that are being presented to you reliable and accurate or have they been “fudged”? Can you tell the difference before you make your final long-term business decision?
This is an important aspect for any business. Whether it is a 3 month projection or a 10 year plan, it’s important to Do It Right The First Time.
Having a professional Chartered Accountant that understands your business and has the required knowledge and expertise will ensure your projections are as accurate as possible, and assist you in capitalising on future business growth opportunities.
Cash flow projections need to be conservative yet realistic to demonstrate to the potential financial institution that you have some idea of your business’s viability and liquidity for the present and future. Past results are historical (and in some cases hysterical!) and are only a guide. They do not necessarily guarantee future performance and the ability to service a loan or overdraft.
Maintaining a balanced cash flow is as important for individuals as it is for larger businesses. Having a professional Chartered Accountant who understands your needs will help immensely.
Budgets are essential “milestones” to help business owners reach their business and/or financial objectives. Budgets need to be flexible and practical.
A poorly constructed budget will turn out to be financially disastrous where costs keep on increasing and revenues do not.
Budgets force you to consider how conditions might change and what steps need to be taken now to avoid financial disaster. Consider potential problems before they occur.
Making the right decisions and keeping up to date with current tax laws is critical for any business, especially for those small to medium enterprises that need the most assistance.
Don’t be caught out! Get the right advice from a professional Chartered Accountant that has your company’s interests at heart.
Regular quarterly reviews of your financial reports are another added distinct feature of Foster’s practice. This ensures that the bookkeeping is regularly checked and that tax planning undertaken along the way and not “crunched” at the end of the year. This removes the stress and anxiety for his clients.
Need to grow your business? Need some assistance in getting the finance to achieve your objectives? A professional service is available to ensure you get ‘over the line’.
Financiers vary in their criteria for lending and very often require a great deal of security for even a relatively small amount to be borrowed. The type of strategic loan submission presented can make all the difference and it needs to be precise, concise and easy to understand. You almost need to demonstrate that you do not need the finance to get the finance!
Developing a business plan is often a task that is not done thoroughly. Make sure your business is set to prosper with the right help by developing effective business plans.
Many business plans are too cumbersome and lengthy. They need to be clear, unambiguous and, above all, simple to understand.
Financial institutions do not have a great deal of time to wade through pages and pages of data, information and/or graphs so make your objectives clear and brief.
How to choose the most appropriate structure for your business is always challenging. Get the right advice before deciding which is best for your situation and/or circumstances.
Choosing the wrong business structure before starting a business or before buying a business is foolhardiness. Avoid expensive costs by researching what business structure best suits your personal and family circumstances. Corporate and tax laws are complex in nature, so talk to a Chartered Accountant about how this difficult decision can be made simple.