Advantage Accounting

We all want to pay less tax. And we hate last minute surprise tax debts. Knowing the tax laws and applying them to your circumstances is key to managing your tax liability effectively. We can advise you on the tax requirements and work with you manage your tax liabilities in a timely way.

With the variety of available accounting softwares, how do you choose which one is right for you? We work with all the major accounting products – MYOB, Reckon and Xero, so we are well placed to speak with you about the features of each product. Whether it’s cloud or desktop software, we can advise you on accounting efficiencies so you can spend more time doing the things you like.

When you’re looking to purchase an existing business, Advantage Accounting can offer analysis of financial, operational and regulatory information supplied by the vendor. Using objective modeling we can offer advice on the vendor’s asking price. We can assist in preparing a funding proposal for finance and offer advice on structures which meet the needs of your proposed business acquisition and your family circumstance.

A core of good business financial management is a robust accounting system. We can review your accounting system to ensure it is meeting your need for accurate and timely business financial information. We will recommend improvement and oversee or implement change. Easy to read management reports are tailored to your business, to assist you in making informed decisions.

We provide accounting and taxation services to self managed superannuation funds. We have professional relationships with SMSF auditors for regulatory compliance.

There may be a time where things don’t go to plan and your business finds itself in financial distress. It is important to remember there are always options. We can analyse your current business position and business model, then work with you on ways to improve cash flow.

Growing your business can present its own set of challenges. We provide timely advice on cash flow management to help ease those growing pains. Your business plan guides your path for growth with milestones defined along the way. We can assist in constructing a budget to compliment and give financial direction to your business plan.

As time passes you’ll be looking to measure the results to your targets. We can establish and monitor key performance financial measures specific to your business and goals. When you are looking to introduce to a new product or service or invest in a capital purchase, we can offer return on investment analysis.

 

Transferring your business financial success to family wealth is important. We can assist you with advice on effectively managing tax obligations and structuring your wealth to protect your family’s assets. A strong and healthy business will maximise the value you receive when you exit.

As your business adviser, we will talk with you about business succession and exit from the start of our professional relationship. Getting out of your business is not something to be addressed at the eleventh hour. Giving your early attention to exit strategies will allow your business structure to be established to facilitate your preferred exit path whilst maximising personal returns. We can offer advice on capital gains tax (and any concessions available), the pros and cons of selling the business versus selling the company and how to transition to financial retirement. We will work with your financial planner on superannuation and investment matters and with your solicitor on estate planning matters.