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dawi03
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LucasArthur, post: 262027, member: 34537 wrote:
Howdy

Best advice, speak to an accountant.. I know that may not be what you wanted to hear, although they will delve deeper into your situation (personal and business) that you may not be comfortable sharing in here.. Without 100% knowledge of you, i feel the information you will get will not be complete – and nothing worse than basing your destiny off of a few randoms inputting with a general overview.

Meaning, an accountant will help you bypass your little accounting practice knowledge and may introduce a few pertinent processes for you to maximise your $$ tailored to your requirements.. Doesnt have to be expensive, just find a decent accountant through a referral from a mate etc..

Once you are set up with them, you can still do all your own bookwork (through an app or even in excel if your income/expenses are minimals quantity (not value) wise..

Its just that the revenue you quote, you really want to get it right from the outset.. There are numerous pros in here that may come forward with some basic info, although i do advise strongly to seek professional paid advice.

Couple reasons:
Do you require indemnity insurance
Do you require Pty Ltd to protect your personal assets (or try to)
Do you need a seperate trust to pay yourself or keep money aside
Do you need Superannuation help
etc etc

Cheers

Thanks mate appreciate it. Now I need someone that isnt expensive to help haha!!