This is what most people think of as an accountants primary role. Every business entity in this country is required to submit certain information to the IRD every year.
This starts by us compiling your financial information, creating an annual report, and eventually filing your annual tax return. This process is the same for a big company as it is for a small rental portfolio.
We keep on top of the ever-changing tax legislation, and ensure that what we produce for you is compliant with reporting standards and current tax law.
Tax planning is very important in today’s world. There are so many types of tax, and ensuring that you aren’t overpaying tax is an important task.
Tax planning is really about the future. Business owners need to ask themselves, ‘if I make this decision now, what tax implications will it have for me and my business?’
It may mean that you need to restructure, or change the way you operate. Whatever the advice, it always starts with us taking a look at your entire setup, and doing some tax planning.
Most people are familiar with GST. It’s a tax that most of the public interact with and hear about. Fringe-Benefit Tax (FBT), and Resident Withholding Tax (RWT) are less commonly understood. That’s our job.
We assist our clients with ensuring that these tax types are all taken care of. Some of our clients take a hands-on approach, where we check these returns over. Some clients want us to ‘deal with it’ and let them know how much they need to pay.
Whatever your preference, we are specialists in this area and are here to meet the needs of you and your business.
Does your business have employees? Are you looking to employ somebody? If the answer is yes to either of those, you are going to need a payroll solution.
Payroll is one of those things in business that you can’t afford to get wrong. When dealing with employees, their pay, Kiwisaver, and their tax, there is too much risk to just ‘have a go’. That’s why most business owners with employees involve us in the process.
We process payroll, ensure that your process is compliant with employment law and give trusted advice when an issue arises. Easy as that.
This is a really important aspect of our firm. Think of your financials as the annual WOF on your business. We check that everything is working, its all compliant and get you on your way. Sometimes, yearly check-ins aren’t often enough to assist owners in their decision making. Enter business coaching.
Business coaching starts with a business plan. While it seems obvious, often these plans are just in your head and have never been documented. Once a plan is in place, we set some goals. These aren’t just business-oriented, they can be about your work-life balance, or entirely personal like wanting to buy a house.
Then we meet every month (or quarter) and look at how you are tracking against your goals. This is your chance to bring up any burning questions you have for us. We give you some advice, and set you off on your way. Our clients that take advantage of this service are seeing great improvements to their business and find the one-on-one time very valuable.
Some business owners require financial reporting more often than once a year. This could be for a magnitude of differing reasons: performance tracking, tax planning, decision making, or any other reason.
For those clients, we compile your data on a monthly (or quarterly) basis. whip it up into a digestible report that gives you all the info you need, and send it to you with our thoughts on how things are tracking. This gives a business owner the most up to date information and allows them to make decisions while being as informed as possible.
This is your exit strategy. Whether you’re considering selling up, passing it down or leaving it to somebody once you pass, your business should have a plan.
We make this process as smooth as possible. We look at your entire setup, what your favoured outcome is, then we begin crafting a plan. Having this in place will greatly reduce the stress of those around you and will save you money in the long run.
To us, this is a no-brainer.
Budgeting and forecasting has become an integral tool for the modern business owner. This is most often useful when applying for lending, as banks are requiring much more information than before. Having the ability to forecast the finances of your business is important for decision making.
Can I afford the repayments of this loan? What if my business’ revenue drops by 10%, 20%, 30%..
What does my bottom-line look like if we have another wave of Covid-19 sweep through causing consumers to change their spending habits?
These are all questions that can be answered with comprehensive budgeting and forecasting.
The simple answer – yes!
As a business owner, one of the most important decisions you will make is deciding on an accountant. While a new business owner may think that their business isn’t big enough to need one, your accountant will be a source of trusted business advice, will help to ensure your assets are protected and will ultimately shape your business as it grows.
Absolutely, its really important that you have the advice of an accountant and business advisor when purchasing a business. Not only is it important to thoroughly check over the business, but we will help guide you through the process and even help obtain the funding to buy it. Talk to us before you sign a contract!
Our fees are somewhere near the middle of the pack. We pride ourselves on being upfront about our costs and offer multiple payment solutions. We don’t want accounting and advisory fees to be a grudge purchase, rather money well spent.
What sets us apart from the rest is our multi-sector backgrounds, our ‘get-it-done’ attitude and our approachability.
We have all been out there, working in the private sector before working as accountants, so we know how the business sector operates. We all get stuck in and get the work done to best serve our clients, which shows in the quality and standard of the work.
There is a ‘no dumb questions’ policy in our firm, we take the time to explain our process and the reason for certain decisions.
We also enjoy actively breaking the mould of accounting firms being a sterile, scary place like the dentist. Our clients are always made to feel welcome in our place of work.
That’s the difference.
As soon as possible. Succession isn’t always about planning for death. It could be your plan to sell the business, or to pass it on. That said, Kiwi’s are hardwired to work right to the end, so most of the time this topic is about planning for what happens when you are no longer here.
We know that you not being around is something that is hard to consider. Oftentimes it can be awkward and scary to discuss. Leaving behind a complex and messy structure can have long lasting negative impact on the people left behind.
We streamline the planning process, keep it simple (but effective) and then review it every year. Sorting this out in advance is much easier and cheaper than scrambling around after the fact.
It really depends on what type of business owner you are. If you’re somebody that is open to input, is ready to improve your business, and willing to make change, then the answer is a resounding yes.
Business coaching isn’t just for the successful owners, nor the struggling ones. Having a regular coach is a proven tool that improves what you get from your business. Whether your goals are financially-based, lifestyle-based, or something else, regular coaching is a no brainer.
Those that consult their professional advisors frequently are more likely to succeed in business. That’s a fact.
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