Three Ways Conference Calling Can Help New Businesses Succeed

Conference calling programs these days are being used by all sorts of individuals and groups, rather than just businesses as they used to be. The conference programs you can find today are very diverse in what they can do, and so are the many uses for them, for this reason. Still, though, the group that can utilize conference calling programs the most are no doubt business owners, and not just because they can communicate with colleagues and clients through conference calling either.

To be sure, conferencing programs do make communication with anybody involved with your business much easier, but if you have already begun to utilize conferencing in this manner then it only makes sense to find other, more creative ways to use such programs. One of those ways is for in house communications between both employees or associates and owners or managers. But the benefits of finding a good conferencing program do not stop there. These types of programs can be particularly useful for new businesses, as communication with someone is often necessary. Whether during the planning stages of the business, the process of opening the business or getting the business off the ground, or after the business is up and running, a free conference call program can surely, in some way, be useful.

A good legal team is one of the most important assets for any new business of any kind, and communication with that team is the key to establishing a legitimate, trustworthy business.

But there are three specific ways in particular that a new business can utilize conference calls.

1. Communicating with a Legal Team –

A good legal team is one of the most important assets for any new business of any kind, and communication with that team is the key to establishing a legitimate, trustworthy business. Being that there is usually so much going on for a new business, though, it can be difficult to find the time for important legal meetings. Conference calling programs make this much easier because a business owner can still be at their business and attend important meetings.

2. Training Employees Prior to Opening –

It is best to have employees that will be working at a new business well trained prior to the opening of the business. While physically working and dealing with customers or clients during this time is not possible, it is possible to learn everything you need to know to perform whatever functions are necessary and perform them well. This type of training can be conducted through regular conference call meetings between managers and employees, without everyone having to meet for training sessions.

3. Communicating Regularly With Employees –

Conference calling makes communication easier and can include any of the individuals involved with a new business that needs to be communicated with.

Finally, after a new business opens it is still important for owners and managers to have regular communication with their employees. What is not possible is for managers and owners to be at the business all the time. Conference calling makes communication easier and can include any of the individuals involved with a new business that needs to be communicated with. This will help a new business run much more smoothly in its early days. Conference calls can be a beneficial tool for any business, but even more so for new businesses. These are only a few of the ways in which such programs can help.

Ensuring the Safety of Your Investment Capital

Are you aware of your business’s financial future? Most people think they know their business’s financial future but the truth is if you are not a professional, your investment capital may be in jeopardy. Take the strain off by letting someone with experience handle your business capital because if you are not experienced at financing a business, you are taking your business’s financial future down a road you have never gone down before. You need someone you can trust, so you can focus on more important things like product development and your business strategies.

Product Development

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Business funding can be a tricky thing to handle while financing a business.

If your business is in the development stage, you definitely do have more important things to worry about. Besides, if your business does not have anything to sell, or if your business is barely up and running, you are taking a big risk of falling flat on your face. People learn from their mistakes, but your business capital is nothing to gamble with. If you don’t have any idea about financing a business you are in bigger trouble than you first thought. You need help from professionals and from people who have been down that road before. Business funding can be a tricky thing to handle while financing a business.

Developing your Business Strategies

Do you have any idea on what you are supposed to do? Maybe so, but do you know everything you need to know before making that first BIG step? There’s more to running a successful business than just knowing how to fund a business, financing a business and gaining business capital. Product development is something you need to discuss with a professional also. Just because you might have the next great idea, doesn’t mean you know how to handle it properly. Discuss your business strategies with people who know your commitment and determination to make something good even better. Explain how you plan to expand, double your profits and defend your business capital. There’s a lot on the line, so take the best of care of your ideas and strengthen your tactics and business strategies.

Give yourself a Future

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You are taking your business’s financial future down a road you have never gone down before.

Business funding is an important and very vital form of service in every business. Not knowing the “ins & outs” of financing a business can cost you dearly. Improving your business strategies is another common move made by all successful business entrepreneurs and you need somebody who knows what they are doing. Sit down and discuss all your hopes and dreams with a professional before making any important decisions. Ask a question that is the only way you are going to learn and prepare for next time. Nobody knows everything about the business, but you can improve every day. Never stop wanting to learn, and always accept improvements and listen to ideas. Some of your best ideas get inspired by other ideas. Everybody wants to succeed, and there are people out there that want to make that happen for you, all you have to do is let them.

Guide To High Return Investments

Everyone now wants high return investments and the reason is simple. If you want to get a good figure from your savings, there is no doubt that this is the right way to take. If you prefer a safer alternative, then you should take a look at short-term investments. They are an ideal solution for those who decide to invest their money in the bank, deciding to give greater importance to guaranteed security rather than a greater profit.

What are the best investments then? Long-term investments bring good gains over time unlike short term choices, such as forex and CFD. Definitely, the best way to make money, but facing greater risks of loss. It is important to know immediately, in fact, that the increased yield corresponds to greater risk.

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Long-term investments bring good gains over time, unlike short term choices.

High-yield investments: why invest in the stock market?

When it comes to high return investments the secret is to determine where a given asset will go to maturity: at a higher or lower price than the initial price? What does this mean? We can define the stock exchange as one of the most classic and appreciated risky investments. In general, it is possible to say that both the shares and the stock exchange are the most appreciated options by those who want a return that is not equal to zero, or almost.

It is also fair to say that they represent a strategic point for those who do not wish to purchase government-run high-yield bonds linked to solvent states. In other words, this type of investment is ideal for those who choose to move towards regulated markets, full of initiative, to the detriment of the risk involved.

Over the course of time, investment techniques have certainly changed. For example, consider trading in shares, which allows you to minimize the risk of loss by exploiting the contract for difference (CFD) and investing, therefore, up or down. Remember, moreover, that if you invest in shares through CFD trading, you need to know which are the best and worst quotes on the stock exchange. In this way, you can determine the best options.

Bonds

The bond funds are also counted among the possible options; they are offered to those who want attractive profit margins. Above all, they are ideal for those who want to invest but without the obligation to constantly monitor actions every day. In fact, the funds allow you to select your package. It is about investing in state and corporate bonds. We advise you to check, before purchase, the type of bonds, performance and origin.

Equities

When it comes to high-yield investments, you have to remember equity funds. As already mentioned, even in this case it is necessary to know how to take some risks to obtain a good profit. Remember, however, that they can have greater repercussions if compared to bond funds.

High return investments: is it possible to earn with Forex?

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In this case, it is necessary to know how to take some risks to obtain a good profit.

Many people today choose the forex market to invest their capital. Again the reason for this decision is very simple and lies in its ability to move millions of dollars in a single day. Even when compared to the stock or bond market, rather than with mutual funds, it is important to stress that investing in the forex market has undoubted advantages.

Its exponential growth allows you to trade even at home. This implies that small investors are able to invest like international banks.

It is never too late to take the step towards a more secure financial future. Contact us today for a free consultation and see if we can help you with your wealth planning.

Plan Your Investments to Help Save Tax

Most people only think about investing when they need to files their returns at the end of the financial year. But smart people know that it’s best to start early. It isn’t enough to start early, though – you need to have a solid plan of investment. While it helps that your final goal of investing in a mutual fund is to save tax, you need to make sure that the mutual fund also helps you in other ways. The first thing to do, no matter what your goal while investing, is to do your research thoroughly. Narrow down your search to those that help you save tax. Once you’ve got your options down to a manageable number, you start organising on some criteria.

investing
Your final goal of investing in a mutual fund is to save tax, you need to make sure that the mutual fund also helps you in other ways.

There are some things that you just can’t compromise on. One of those things is the fund’s performance. Look at the performance for a period of 3 to 5 years. Most funds have a lock-in period of three years, so that’s your minimum. Look at both calendar as well as annual returns, just in case. The next criterion you want to look at is the fund’s volatility. Make sure that funds with high risks come with high rewards. If the rewards aren’t what you think they should be, or if the risk itself isn’t to your liking – it’ll help you narrow down your list even more. Most funds do have a few ups and downs, though. And that can be a good thing, so long as you also have a good Sharpe ratio to go along with it. After volatility, check what the expenses of the funds are. You’ll be spending money from your returns on maintenance, so make sure that it’s low. There would be hardly any point in investing if a large chunk of your returns were being eaten up by maintenance costs. Also look at the company’s history.

company
It’s worse if the problems arise out of managing client assets – check to ensure that all things are clear at that level too.

If there is turbulence in their history, or if there are likely to be disturbances in the future, you want to reconsider investing there. More the problems your company faces, the less likely it is to be reliable. It’s worse if the problems arise out of managing client assets – check to ensure that all things are clear at that level too. Once you’ve gone down the list on keeping in mind these factors, you’ll find it easier to pick a fund that’s more to your liking. Remember that planning your investment is important – and these are crucial steps to making wise investments. Remember that being thorough with these steps can help you with not just saving money, but also growing it.

An Overview Of The Best Business Structure For Consultants

After becoming a consultant, it is tempting to concentrate on the advantages of being self-employed. In all likelihood, you will not have thought much about the best business structure for consultants. However, it is vital to give some consideration to this, to increase your bottom line and reduce your tax liability. There are four main kinds of structures that the majority of consultants opt for. All have their own distinctive set of benefits and drawbacks:

The Sole Proprietor Model

consultants
Corporation shareholders have restricted liability protection.

As a sole proprietor, you are classed as an unincorporated company, or an independent contractor, consultant or freelancer. You don’t have to complete any forms to begin this kind of venture. All you have to do is declare your business expenses and income on Form 1040, under Schedule C. Taking this route is the simplest way to get started in business — and the simplest way to dissolve your business if things go wrong — however, it offers limited safeguards.

The C Corporation Approach

C Corporations are incorporated businesses that enter their tax records on Form 1120. Each type of business, aside from the sole proprietor model, is regarded as an individual entity, which typically offers shareholders a degree of financial and legal protection. Corporation shareholders have restricted liability protection. Also, corporations control how much money they retain or distribute. Most corporations are classed as for-profit organizations, so they could potentially make a loss for many years.

Although this might help you when it comes to filling out your tax return, it is best to speak to your tax adviser like Walker Wayland AMD Chartered Accountants for further details.

The S Corporation Structure

An S Corporation shares similarities with a partnership (which is taxed on Form 1120S). If any shareholders provide services to the company, the S Corporation has to pay those shareholders fair wages. These wages are separate payments from profit or loss distributions. An S Corporation has the same fundamental benefits and drawbacks of a closed or general corporation. An S Corporation avoids being ‘taxed twice’, unlike a C corporation, because all loss or income is only declared once on the shareholder’s tax returns.

Nonetheless, as with regular corporations, and in contrast to certain partnerships, shareholders of S Corporations do have personal liability for any business debts.

The LLC (Limited Liability Partnership) Option

An LLC is an unincorporated business (taxed on Form 1065). In contrast to corporations, these organizations require a General Partner. This individual, or individuals, assume unrestricted liability for the company. Also, partnerships require at least a couple of shareholders and distribute all the profit and loss to these shareholders, with no concern for any money retained by the company to facilitate cash flow. Lots of business people think that LLCs are a better option than partnerships and corporations because they include many of the benefits of each.

corporations
Partnerships require at least a couple of shareholders and distribute all the profit and loss to these shareholders.

Final Thoughts

Although the above business structures are the main ones that will be relevant to you, other options exist — such as nonprofit organizations and trusts, however, they are not usually utilized by consultants. Just be aware that there are many possibilities for your company, as far as choosing your structure goes. Always pose the right type of questions to yourself, such as: “Is it indispensable to incorporate?” and “How will this benefit me?”.

 

How a Bookkeeper Can Boost Your Business

Whether you are hiring independent contractors, an accounting firm, or several accountants for your bookkeeping needs and a variety of finance management tasks, there should always be standards that need to be met especially in bookkeeping part as these ledgers and other documents are necessary to provide precise and accurate financial report.

Business Evaluation

A well-documented financial report can provide you pertinent information in order to evaluate the performance and assess the standing of your company against its competitors. As a business head, these are very vital in ensuring the growth of your business. These reports also involve trends which are great tools to determine the future of your business. So in order to accurately document the inflow and outflow of money, you will have to assert certain standards and detect particular indications which would result to quality bookkeeping.

online bookkeeping software

Organise Your Bookkeeping Systems

A system must be in order to make sure that every transaction is listed and sorted out. You can employ the aid of bookkeeping software so your employees can input data real-time. Having a centralized system would be a very efficient and effective means of collecting all the information necessary for your financial transactions to be laid out.

Sorted, Arranged and Categorized

If you are doing it manually, it helps that everything is sorted and arranged depending on the date and kind of transaction carried out. Having an itemized list of transactions would make things a lot easier for the people who will be working on accounting and auditing your finances. They won’t get stressed trying to match and figure out which transactions are similar and which transactions were really carried out. This also prevents double entries which can affect tremendously in the entire financial documentation process.

On Time

Bookkeeping of your accounts need to be prepared at a certain date before the tax filing deadline comes. Thus, entries from a specific time range must be collected prior to the date with allowable difference from the deadline. Also, the entries need to be accurate in every aspect. You wouldn’t want to get jailed and serve sentence for tax evasion.

Working on books

Conclusion

These are just some of the indications and qualities that appropriate bookkeeping entails. While everything may seem so hard to carry out, it would be a lot easier if you would hire a professional bookkeeper to do all the work for you. In Mandurah, Western Australia WW AMD Chartered Accountants provide a range of professional bookkeeping services outlined in this article. You could find a similar bookkeeping provider in your local area. This will save you a huge amount of time and effort which you can spend in other vital parts of your company or with your friends and loved ones.

Tips on Minimizing Your Business Tax

As a business owner, you don’t want to spend more tax than is necessary. It is also best to avail the services of the accountants, like Accountants Cherry Black, for consultations and proper tax filing. Yet, consider these top 10 tips from business tax accountants to help you get the best of tax deductions and refunds.

1. If possible, your taxable income should be deferred until the following financial year. The income receipt can be delayed by cash based businesses while invoicing can be deferred by non-cash operations.

2. Take advantage of a tax deduction by writing off old plant or stock before 30 June.

3. For year end expenses incurred but not yet actually paid by 30 June, claim an immediate deduction.

This includes employee salaries and wages earned but not paid by 30 June. In addition, staff bonuses also qualify for a tax deduction when it is a definite expense that the business has committed to.

Any maintenance and repairs are also tax deductible if billed and undertaken before the end of the tax year.

4. Instead of paying full income tax at 46.5%, split the income as company (30%) or lower taxed spouse (16.5% or 0%).

5. Physically write off the business’s bad debt before 30 June. This can only be done if you have proof that you have have genuinely attempted to recover the debt. Also, the debt has to have been shown as income before being written off.

6.Small Business Entity (SBE) concessions are available for businesses with a turnover of less that $2 million.

For example, prepaying expenses like interest, insurances, rent, subscriptions, rent and lease payments enables an immediate deduction.

7. Don’t get caught in the trap of spending money simply to qualify for tax deductions. Remember, you will only receive 30% back if you are a company held business.

8. Pay your employee superannuation contributions by 30 June in order to be eligible for the tax deduction of that financial year.

payment

9. Before the end of the financial year, repay any interest and principal on any loans borrowed from your company. If you don’t, the entire loan amount will be taxed at the much higher marginal rates. This may include using company assets like vehicles for private use.

10. Finally, in the event of a tough financial year, you can vary the PAYG instalment for the last quarter of the financial year.

Ideas On Selling Investment Property

The goal of an investment property is to make money for the owner; so when it comes to selling that property, making a profit is going to be a top priority. In many ways, selling an investment property is similar to selling a home, where you hire an agent to market the property to potential buyers. However, investment properties operate under different tax rules than the home you live in, so you’ll need to be aware of this. Here are some factors to consider when thinking about whether to sell your investment property.

The Neighborhood Has Changed

properties

If you purchased a good property when the market was down, you may have made a nice return, and it could be a good time to cash out. However, if the opposite has happened and the neighborhood is deteriorating, you might want to get out before property prices in the area fall too far.

The Property Needs Major Repairs

Whether it’s a crack in the foundation or a roof that needs to be replaced, if substantial repairs are needed and you don’t want to put the time, money and energy into it, it may be time to sell the property. However, you will need to disclose these issues to the buyer which may affect the property price.

The Property Is A Tax Liability

Owning property can actually raise your tax bracket, so that may be a good reason to sell, especially if you are no longer interested in being a landlord. Before selling, take note of the expiration of any potential tax abatements.

There Are Better Returns Elsewhere

When looking at your investment, you should consider all of your options. If you have had a property for a long time, it may have increased in value, which could be a good opportunity for conveyancing the property and diversifying the proceeds into other properties or investments, such as stocks and bonds.

Managing Your Money

Managing your money is crucial to your financial health. Take proactive steps to handle banking, money and accounting issues. This way, you will keep track of your spending and save money.

1) Keep all paperwork

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Keep accurate records of all your financial transactions. Have a separate file for income and another one for expenses. Once you know where the money goes, you can take steps to cut expenses.

2) Keep it Simple
Your financial records do not have to be complicated. A simple spreadsheet will do. Just keep the records simple and you will achieve great results with it.

3) Keep Multiple Accounts It is not prudent to have only one account. You should have at least to bank accounts. One account should be your salary account while the other one is your savings account. This enables you plan your income and save money.

4) Payment Dates
You should harmonize your direct debit dates to ensure there are no gaps between the payday and the payment due dates. This way, you pay your bills conveniently and have a healthy liquidity position all the time.

5) Clear Debts First
Pay off your debts as soon as you can because servicing a loan takes a large chunk of your money. Avoid payday loans and take bank loans only when you need them.

6) Audit Your Accounts
Take out time to audit your personal accounts every week. This is one way to spot unnecessary expenses and take corrective measures.

7) Keep to the Agreements
Keep agreements with your banker and your credit card companies. Avoid late payments and always play by the rules. This way, you will save money on bank charges and penalty charges.

8 ) Understand Online Benefits

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Most banks offer internet banking services these days. Take advantage of the online option and manage your accounts from the convenience of your home or office.

9) Pay Attention
Review your transactions regularly and look out for errors and omissions. Report any suspicious looking transaction to your banker and never take things for granted.

10) Read the T&Cs
Finally, you should read all the terms and conditions and try to understand everything there. Knowledge is power so you should get all the information you need so that you will enjoy a beneficial relationship with your bank.

The Importance Of An Accountant

Over-relying on free or inexpensive accounting service tools for business analysis can prove ineffective and costly for many small business operators. Instead, it’s always wise to involve qualified accountants.

When dealing with professional accountants, it helps to know what to inquire and when. That way you can be sure that you’re getting your money’s worth.

What’s the best way to get in touch and how often?

Cultivating a frequent and healthy relationship with your accountant is essential. by frequent we mean weekly, monthly or bimonthly. Popular ways to get in touch include phone or via social media handles (Skype, Google, Facetime).

Preparing for the tax season

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The primary reason why small business operators hire accountants is to get help with tax preparation. Get informed of new tax laws as well as deductions or claims you can take advantage of to minimise tax burdens. Its advisable to seek such counsel before the deadline of April 15.

Ongoing considerations

It’s in your best interests if your accountant gets to know more about your business as time progresses. This provision allows the expert keep you aware of new developments and to adjust to them in the shortest time possible.

How accountants can help grow your business

With a proper foundation, a qualified accountant can help small business achieve positive growth. First, you must build a robust financial model and update it regularly.

Keeping track of cash flow

Projecting business cash flows can be a daunting task. However, with the help of a qualified accountant, such an exercise becomes much easier. Once you develop a clear projection, the next step is to stick to it.

Understanding your break-even point

Understanding your business’s break-even point is essential in determining aspects such as pricing and profitability. Accountants can help you estimate how many products or hours you need to work to break-even.

Assessing your business value

By examining your financial blueprint and applying the discounted cash flow analysis, your accountant should be able to estimate your business’s worth.

Negotiating business contracts with accountants

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Though accountants are not licensed to practice law, they can collaborate with your attorney to offer a better experience.

Finally, remember to strictly follow your accountant’s advice, its the whole point of hiring them in the first place.