Preparing Your Business For The Year Ahead
As the we approach the end of the second month of the current financial year. We would like to shed some insight into how businesses can evaluate their current financial standing and chart a course for the future. It is ideal for setting new goals, reflecting on past performance, and making strategic decisions that will contribute to sustainable growth.
Is Your Business Structured Correctly? Here's Why It Matters
Choosing the right business structure is one of the most critical decisions for any business owner. Whether you’re starting a new venture or reevaluating your existing business, the structure you select can have significant implications on your taxes, liability, and overall success. In this article, we explore why having the correct business structure matters and how to determine if your current setup is right for your business needs.
Top 7 Common Tax Mistakes Made by Businesses and How to Avoid Them
Navigating the complexities of business tax can be challenging, especially for small and medium-sized enterprises. Many businesses make common tax mistakes that can lead to significant financial penalties or missed opportunities for savings. At SKD Accountants, we're committed to helping you optimize your tax strategy and avoid costly errors. In this article, we’ll explore the top tax mistakes businesses make and how you can steer clear of them.
ATO Crackdown on Rental Property Owners: Avoid These Common Mistakes
The Australian Taxation Office (ATO) has been tightening its focus on rental property owners, targeting common errors that lead to incorrect deductions and underreporting of rental income. With data-matching tools and extensive audits, the ATO aims to ensure compliance and prevent taxpayers from making costly mistakes.
Here’s what you need to know to stay compliant and avoid penalties