Asset Protection: The best way to ensure your business assets are protected
Are you concerned that all of your eggs are in one basket? There are ways to shift ownership of your company assets to protect them further from your business risk and exposures.
Gross Profit vs Net Profit: Are you making any money?
Do you understand the difference between your Gross Profit and Net Profit? Does your business have Operating Leverage? What’s the difference between my Gross Margin and markup?
Shareholder Salary: Should you receive one?
You have most likely seen ‘shareholder salary’ on your tax return before. If you’re new to business, then don’t worry, you will probably see it on your next tax return. Let's dive in.
Starting a company? Need to know how to pay for everything?
When you start a company in New Zealand, you will normally need some money to get the venture off the ground.
How should you get this money?
Should you take out a bank loan? Sell shares in the business? Or fund the venture yourself?
The Balance Sheet: What is it…?
Your balance sheet is the most important financial statement. Believe me, you want to know what it means!
Share Capital Explained: The most misunderstood financial term
Share capital is the most misunderstood financial term when it comes to business. What does it mean? How can I use it?
Liquidations: They seem to be happening everywhere at the moment, what went wrong? (with examples)
It seems that every day we hear of another well known New Zealand business going into liquidation. What does this mean? Why has it gone into liquidation? Can it be avoided?
Drawings Explained: We take them, what are they?
Drawings; what exactly are they?
What does it mean to take drawings from your company?
Gym equipment finance in NZ: What is your BEST option?
Are you considering financing the gym equipment for your new gym? Here I run through what this may look like and the true cost of the finance and the alternatives.
The PROBLEM with Hnry
Hnry is a great tool for self-employed that have just started out on their own. I argue that at a certain level of income you should consider a personal chartered accountant.
Can I make my mortgage interest tax-deductible?
Have you ever wondered if you could deduct your mortgage interest against your business income? If you have been in business for a few years, then there is a way.
GoCardless Review NZ: The best direct debit merchant?
A users review of the online direct debit merchant, GoCardless.
What the heck is Terminal Tax?
Terminal tax is the tax you pay at the end of the year. It’s your final tax bill. If you pay provisional tax or PAYE, this is deducted off of your terminal tax.
What the heck is provisional tax?
Provisional tax can be confusing to understand. In this article, I explain it in an easy to understand way.
I explain what it is, when you need to pay it, and how you can minimise your provisional tax payments.
What Do The New Income Tax Brackets Mean For You?
Instead of lowering the percentage tax rates that individuals pay, National and the coalition have rather opted to expand the brackets of income that the rates apply to.
In plain English, the expansion of the brackets means that the lower tax rates apply to more of your income, resulting in a lower overall income tax bill for you.
Accounting Fees Explained
An explanation of what the usual accounting fees cover, and what you can expect to pay.
Interest-deductibility rules for investment properties
What do the interest-deductibility rules actually mean for investment property owners? The new governments changes, what they mean, and how they impact the amount of tax you will pay.
Capital Exit Plan (Do you Have one?)
A capital exit plan is important to help you plan how you and your business partners will leave the business. Who has the first right to purchase a partners shares? At what value?
How to work through the Airbnb GST changes (it’s easy)
GST will now be paid to Inland Revenue on your Airbnb bookings. You don't need to do anything unless you're already registered for GST. It's an automated system, but it pays to understand how it will effect your booking income.
Builders and their cash flow troubles (and how to resolve them)
Builders often have trouble with their cash-flow as their payments are normally in instalments, which can be lumpy. In the meantime, they need to pay their staff, suppliers, buy tools and equipment and pay themselves!