Are you working as a contractor? Tax Implication when you work as an independent contractor

Are you working as a contractor? Tax Implication when you work as an independent contractor Independent contractors are in business and they have tax obligations to meet. If you are working in some particular trades, there are some tax implications that follow you. A good number of people have a difficult time telling if they[…..]

What happens if you don’t lodge a tax return?

If you make less than $18200 per year, you don’t have to worry about paying taxes on your income. But if you make more than that, you are required to lodge tax return on time.  You are mandatorily required to lodge a tax return each year at the designated time of the financial year. But due to certain situations, if[…..]

5 bookkeeping tips for small business owners

If you are a business owner, you will have to learn and manage bookkeeping so that you can keep track of the transactions and cash flow. It’s very important to know how the cash is coming and where it’s going. specially, if you own a small business, you probably are not going to have that big of a team[…..]

Tax Implications for Rental Property Owner

Managing the rental property can be complex for individuals or businesses. From the taxation point of view if you have multiple rental properties it can be even complex. If you have maintained the complete records of income and expenses with all receipts you will save a lot of time and effort at the end of the financial year. What[…..]

Choosing the Right Bookkeeping Software for Your Small Business

Selecting the right bookkeeping software for your small business is essential. This is true whether you manage your bookkeeping in-house or outsource this function; your bookkeeping software should provide you with easy access to critical financial management information. Among other things, this information needs to allow you to closely monitor cash flow and thusmake better[…..]