Main Beach accountants: the questions we get.
I have several entities and investment property as well as a business. Can one firm handle all of it?
Yes, and it is the typical Main Beach client. The accounting team looks after the trading entity, the holding and investment entities and the family trust together, with consolidated reporting across the group and one tax plan. New Wave Financial Planning, New Wave SMSF and New Wave Law sit in the same building for the parts that go beyond accounting.
Do you work with hospitality and marine businesses around Tedder Avenue and the marina?
Yes. Restaurants and bars on Tedder Avenue and marine services around the Spit have the same needs as hospitality anywhere on the Gold Coast: daily takings reconciled to Xero, margin by venue, a structure that protects the lease and the licence, and cash flow planned around the season. Marine businesses add inventory, boats as assets and sometimes charter income to the mix.
We are planning to sell the business in a few years. When should we start?
Now. A sale that is planned two or three years out can be structured for the capital gains tax concessions, cleaned up so the numbers a buyer sees are trustworthy, and run so the business does not depend on the owner. We start with a valuation and a plan, quoted up front, and bring in New Wave Law and Financial Planning for the agreements and what happens to the proceeds.
How far is the Mermaid Beach office from Main Beach?
About fifteen minutes down the Gold Coast Highway. Most Main Beach clients come to us for tax planning and the annual review and handle the monthly meetings by video. For advisory and virtual CFO clients we will come to you when it suits.