• Breast Pumps & Taxes...Find an Accountant that just gets you

  • Sep 30 2024
  • Length: 1 hr
  • Podcast

Breast Pumps & Taxes...Find an Accountant that just gets you

  • Summary

  • In this episode of the Inner Sanctum, we talked about the T word! That's right, lovers. It was Tax and Relationships with your accountant and chat with Paris from Group One Accounting. You will often hear the team singing the praises of Paris. Not only is she an exceptional human, she's also an incredible Accountant! This chat covered Paris's journey into accounting. Some background into Samara and Paris' journey together. Then, we went deep into tax and all its variations. If you don't know your GST from your BAS or PAYG, this is the episode for you. We talk about sole traders transitioning to company status and the importance of financial discipline. And, of course, why is having a great relationship with your accountant so important?

    00:00 Episode Summary

    02:56 Introducing Our Special Guest: Paris from Group 1 Accounting

    03:22 The Journey with Paris: Transforming Business Finances

    04:13 Navigating Financial Challenges and Trusting the Process

    05:48 The Importance of a Good Relationship with Your Accountant

    08:53 Personal Stories and Emotional Support

    15:29 Protecting Your Business and Personal Finances

    20:14 Simplifying Tax Concepts for Business Owners

    29:56 Understanding Superannuation

    30:34 Breaking Down BAS Payments

    32:49 Navigating PAYG Instalments

    34:49 The Importance of Accurate Financial Planning

    40:13 Director's Loans Explained

    43:34 Transitioning from Sole Trader to Company

    48:45 Effective Budgeting and Cash Flow Management

    58:11 Final Thoughts and Advice


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