Oct 25, 2024 | Asset Depreciation, Business Assets, Business Growth, Leasing Assets, Small Business
When your business needs equipment, vehicles, or other assets, you have two main options: buying or leasing. While buying may seem like the obvious choice, leasing can offer some unique benefits—though it’s not without its drawbacks. Let’s break down the...
Oct 23, 2024 | Business Growth, Business Valuations, Exiting A Business, Small Business, Succession Planning
Your successful business can quickly start to lose value if you don’t keep pace with a changing market. Check out these five threats that could be undermining the value of your business. Once you’ve built up a successful business, you’ll want to see a healthy return...
Oct 18, 2024 | Small Business, Succession Planning, Taxation, Trust Accounts
Family trusts can be an important tool for protecting and distributing wealth within families in Australia. Whether you’re interested in shielding your assets, benefiting from tax advantages, or simply planning for the future, a family trust offers an effective...
Oct 4, 2024 | Bookkeeping, Business Growth, Small Business, Taxation
By Peter Woodford, Associate, TSP Accountants & Business Advisors Accountants vs Bookkeepers If you run a business in Newcastle or the surrounding areas, you know how important sound financial management is to your success. One of the cornerstones of financial...
May 9, 2024 | Self Managed Super Funds, Small Business, Superannuation
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these...
Apr 26, 2024 | Business Valuations, Small Business
For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart? Every business owner is naturally curious about...
