Help...starting off in business

[keepsmiling]

Hi Guys. I would really love some guidance. I have started my own letterbox distribution company. I would love to get some tax advice.......I work in a permanet job during the day but work afterhours from home doing my own letterbox drops. I spend alot of hours collatering the material and using my vechile to pickup the goods and deliver to certain areas. I also make telemarketing calls from home and and use the internet for business purposes. Can you please help me...I HAVE ONLY earnt around $7000 from this business in the financial year so far- and have worked for more than one client. I also have done over 5000 kilometres in my car but didnt keep a log book. I know that in the profit and loss statement I can claim back part of the rent as I have a home office setup. My total rent was over $9000 for the whole financial year and so with allowable deductions of up to 50 percent of that thats already $4500 which is $4500 off the $7000 I earnt....so with up to 5000 kms for kms aswell at 63 cents per kilometre thats another $3150 dollars roughly off that total. With other expenses it looks like I will be in the negative of earning. My question is based on this because i also am a fulltime wage earner and my salary gets put together....because i am in the negative how does this work?

[KarenC]

Hi, now is the time to get a good accountant - someone you feel you can trust and talk to throughout the year. All accountancy fees are tax deductible and they should be able to tell you how much the tax return will cost you.

More on business at the ATO
www.ato.gov.au

[Bizz Buzz]

Hi,
I agree with Karen, you need to get a good accountant.
Could you see fit to help me out a little? I may have the need to recruit a team of people to do letterbox delivery and I have no idea where to start.....don't answer me here this is information which if everything goes ahead I will pay for.
Allowing for up hill and down dale and inclement weather etc, how many letterboxes can one person on foot deliver to in one hour? Can you answer that question?
I have with my first venture 13,500 letterboxes to be delivered to and they MUST all be done in one day and I had one silly man telling me he could do it on his own!
If you think you could work out a system to administer this and IF I get it going it would be every week, week in week out and this would be the first of many.
I believe we can now do many things remotely and would welcome your input.
Regards
Linda

[Warren Cottis]

Hi

I have a number of switched on accounting firms as clients so if you want an accountant who will improve your business let me know.. click here