Money Advice: My Blog

Is It Worth Getting A Tax Depreciation Schedule?

10 December 2021

If you own an investment property, you may benefit from the reliability and tax savings of a tax depreciation schedule.  You might be wondering if it is worth getting a tax depreciation schedule or whether you can do your own taxes. Here are four reasons a tax depreciation schedule is a good idea. 1. Tax depreciation schedules help you find potentially missed deductions Depreciation deductions are often overlooked by rental property owners because you may not realise that you don't need to have spent any money on your investment property during the financial year to still be eligible for deductions.

How to Handle an SMSF Audit More Effectively

30 August 2019

As you may know, a self-managed superannuation fund is a great way to provide for the future and is a program that can usually work quietly in the background to help you achieve your goals. However, it is also a concept that is highly regulated, and your fund will need to undergo an annual audit to make sure that it is compliant and financially sound. This type of audit is not without cost, and, if you're not careful, these costs can spiral, so how can you ensure that you keep them in check as much as possible?

Does Your Small Business Need A Forensic Accountant?

31 July 2019

Running a small business may seem easier than running a large corporation on the outset, but the reality is that you have to put in a considerable amount of work to become successful. Small business owners tend to maintain the smallest staff possible so that they do not spend a substantial amount of money on wages. Thus, you may be thinking that being in charge of most facets of your business, including the finances, is a cost-saving measure that will pay off.

Public Liability Coverage Questions for Event Planners

29 July 2019

As an event planner, you know you will need certain types of insurance. One of those insurance coverage plans is public liability insurance. You may know that you need this insurance, but you may not know what it coverages or why your specific business needs it. Here are a few key points you should understand about the coverage and what to know about each key point. Outdoor-Event Injuries When you have outdoor events, there are several issues that could occur where public liability coverage is used.