At Sandercoe Accounting we do more than just preparing financial statements and tax returns, we provide businesses with great value advice across all phases of a business life cycle. We can advise and help in each of the following business phases:
- Start Up Phase
- Growth Phase
- Maturity Phase
- Retirement Phase
Start Up Phase
From the moment you make the big decision to set up a business, you are in the first stage of the business life cycle. We can guide you through this start up phase and offer advice and assist with:
- Applying for an ABN and other ATO registrations such as GST and PAYG Withholding.
- Discuss the different tax structures with you and help you choose which one will suit you the best for your circumstances. We can then set up a company or trust structure if required.
- Set you up on XERO cloud accounting software so you are organised and in control of your books from the start giving you the confidence to run your own business.
- Employing staff and your employer obligations
- Discuss all other business aspects and requirements to run a successful business.
The right business advice in this phase of your business is extremely important. Your business is all set up now and now you need to grow and make your first major financial decisions. These financial decisions will affect your business over the long term so it is important to get those decisions right. We can assist with those financial decisions and also some operational ones such as:
- Buying and financing a company motor vehicle
- Buying and financing large business equipment
- Leasing or buying commercial or industrial business premises
- Making sure you and your business have adequate risk insurance and protection
- Managing and maximising your business operations and efficiencies.
The need for business advice may not be as strong in this phase, however, the need for financial advice and wealth creation advice is. Running a successful business requires you to continue to make wise financial decisions and now wise investment decisions to ensure you create as mush wealth as possible to provide for your family and a comfortable retirement lifestyle. During this phase our advice will cover:
- Maximising your superannuation contributions and setting up a Self Managed Superannuation Fund if required
- Investing in property and negative gearing
- Paying down and managing your debt
- Minimising your tax through strategic tax planning
The retirement phase, the last phase, is just as important to get right as all of the other phases are. The right advice in this retirement phase can save you a lot of (tax) money for you and your family. In the retirement phase, we can assist you and provide advice that covers:
- Selling or winding up your business
- Application of the CGT Small Business Concessions saving you tax
- Business succession planning
- Estate planning
- Retiring and moving from accumulation phase into retirement pension phase
Whatever phase you are in with your business, the team at Sandercoe Accounting have got you covered and are here to help.