Business Structure Accounting For Your Gold Coast business
Do you need help structuring your Gold Coast business? We create and provide you with a plan to set up a solid foundation for minimising tax, protecting assets and facilitating growth.
Improve efficiency and scale your business with the right apps like Quickbooks and Xero Bookkeeper.
Our team are experienced with a range of different accounting apps, making us the go-to Quickbooks accountant and Xero bookkeepers on the Gold Coast.
We have found that over 60% of businesses have been paying more than to the ATO than they should be. More often than not, this is due to not starting the business with the right foundations. These include:
- Setting up the right business structure;
- Understanding your entities;
- Understanding how to set up correct bookkeeping and record-keeping processes.
- Having an ongoing relationship with their accountant to plan.
If you have an existing business we can provide you a second opinion about your prior year tax returns. Small businesses have the opportunity to correct any mistakes within the last 2 years.
Business Structure Advice
If you’re serious about starting a business, then you must first take into consideration what type of entity (sole trader, partnership, company or trust) you will be operating in. The right advice is crucial to ensure your business is set up as best as possible for success.
Unfortunately, many entrepreneurs decide to skip the research and planning around this stage as they often believe that they can either do it themselves or feel it’s too expensive.
9 times out of 10 we find that those that “self-diagnose” often end up with issues with tax, asset protection and growing their business. In the long run, costing them thousands of dollars more.
Get it right from the start with help from our Gold Coast Accountants and Business Advisors
Goals, Planning, and Projections
Many startups dive headfirst into business without planning or creating a game plan,
They end up not knowing their target audience, not understanding their product’s unique value proposition, wondering how much they will need to start the business, and worst of all, not knowing how much profit the business will make!
We recommend that our clients prepare a 12-month profit and cash flow projection to allow them to predict the success of the business before starting.
Without this, you’re basically flying blind, hoping and wishing that you end up in the right place.