Tax planning and advice
Most owners find out their tax bill months after 30 June, when it's too late to change it. Tax planning works the other way round.
What we do
In May, we forecast your full-year profit to 30 June. Then we review your options, which may include the timing of income and expenses, asset purchases, concessional super contributions within the caps, trust distributions, director salaries, and loan accounts. Through the year, the monthly set-aside check makes sure the money for tax, GST and super is in the bank when it's due.
What you receive
- A full-year profit forecast and your estimated tax
- Options to reduce tax legally, with the dollar effect of each
- A plan for paying the tax when it falls due
Questions
I already have an accountant. Can you still help me?
Yes. We give your accountant the forecast and the numbers they need. The tax planning decisions stay with you and them.
Growth and Virtual CFO include the May forecast and time at your tax planning meeting with your accountant. If you'd like us to handle tax planning directly, we quote a fixed fee.
See the Growth plan Book a free discovery callQuillbrook Electrical
ATO payment plan of $38,000 cleared in 11 months. The weekly transfers covered each new BAS as it built up, so spare cash each month went to the old debt instead of the next quarter's bill.
Read the case study →Illustrative example. The business and figures are fictional.
Talk to us about your numbers
Book a free 30-minute discovery call. We'll look at where your business is now, where you want it to be, and whether one of our plans fits. You'll know the fixed fee before you commit to anything.
Or call Ian on 0438 802 531 · enquiries@firmgroundadvisory.com.au