2: “But I can’t afford an accountant!” We hear this one a lot too. And yeah, we know it can be tough for sole traders or small businesses who are great at their jobs but maybe not so great at their books – but you know what you can’t afford? Ten years of work followed by crippling levels of debt. You’re the one who has to get the accountants all the information anyway, so you’ve already done half the work! Consider doing it yourself or ask your accountant if they can take their fee from an expected return or in the form of a payment arrangement.
If you want help building your DIY skills, head on over to https://www.smallbusiness.wa.gov.au/business-advice/taxation for online information – there are also local offices! Are you capable with a phone or computer? Because there’s even an app for it now (for non-sole-traders, you still get the online web portal).
Into audio-visual learning? Try the ATO’s playlist of Tax Basics for Small Businesses here.| ← Previous | | | Next → |