Seven Things You Didn't Know an Accountant Can Help With

If you have owned a business for several years, but your experience of accountants in Maroubra or elsewhere has been limited, chances are that you have missed out on some golden financial opportunities and perhaps worked harder than you needed to!

Maroubra accountants aren't only for preparing tax returns and sending you bills! At Sullivans, we have helped hundreds of small businesses to work smarter, see better returns from their effort and investment, and demystify any of a hundred small financial headaches that pop up when you're in business. You might not have known that your Maroubra accountant can:

1. Set up a business
   Accountants can help you structure your business correctly for its management setup, number of owners, and its eventual goals. As you may have already discovered, the choice of company structure is not always simple, but it is a decision that your Maroubra accountant can help you through to ensure minimal expense and taxation, and maximum return.
2. Switch owners or structures
   Life changes, businesses change and people change. Your Maroubra accountant can help with business succession planning - either from one owner to another, from a privately owned to a publicly owned company, or when transferring management of a family business to the next generation.
3. Get back in the black
   Accountants have plenty of experience with money; if your business is in trouble financially, your Maroubra accountant may be able to see a way through that you have missed.
4. Separate business from pleasure
   Small business owners can find it difficult to separate business and personal expenses - your Sullivans Maroubra accountant can advise on this.
5. Advise on specific transactions
   If you have a confusing financial decision coming up, such as whether to buy a new office or rent, whether to lease or buy your equipment or vehicle or whether to hire employees or contractors, your Maroubra accountant can help you analyse the costs and benefits of each strategy.
6. Avoid tax problems
   The Tax Office will quickly let you know when you start a business that company income tax is definitely not the only type that is payable. Your Maroubra accountant will set up automated systems to ensure that you don't get into hot water with tax later on.
7. Walk you through an audit
   Audits are stressful and time-consuming ... and that's just when they go well! If you've received an audit notice, your Maroubra accountant should be the first person you call.

If you have any financially-related questions at all, chances are that Sullivans' expert Maroubra accountants can help. Not currently a client? Don't stress - our help and advice is available to all businesses Sydney-wide. Make an appointment with one of our Maroubra accountants today!