What does the future financial position of your business and personal world look like?
Many people may feel uncomfortable, unclear, or struggle to answer the above question.
Over the past few years, many of you have benefited from regular quarterly meetings with us. For those that haven’t, we invite you to consider the following questions, which we typically cover at our scheduled quarterly catch-ups:
How profitable is your business? How do you stack up to peers in your industry? What are the least profitable parts of your business? I can see the profit, but where has the cash gone?
Does your business need a key piece of equipment and you are unsure, whether you can afford it, how to structure the purchase and how to fund it?
Can you afford to upgrade to your dream home? Is your business in a position to support the repayments required? What is the most tax effective way to structure the acquisition, and how will it be funded?
Would you like to grow your business revenue without increasing your personal effort? Can your business afford new staff and at what level? Do you have the right employees in the right positions? Is there capacity in your business? Can you productise more and leverage the benefits?
Now that your business is humming, how do you grow your personal wealth? Are you maximising your growth through tax efficient strategies?
We can help you answer these questions through a variety of tax efficient strategies and initiatives. Some of these initiatives include:
A regular, detailed review of your business’s financial data using visual reporting software to analyse growth, profitability, cash flow and perform what if analysis;
Assistance with cash flow planning by building custom forecasts that are tailored to your business;
Assistance to owners and bookkeepers regarding coding of transactions, and data file setup, in order to produce more useful information from your management reports;
Monitoring your tax position throughout the year so there are no surprises at the end of the year;
Analysis of your existing structure, risk profile and tax position in order to identify the best structure for new business ventures or investments;
Identification of various tax strategies not previously utilised in order to maximise your after tax income;
Ongoing review of your quarterly management accounts to identify compliance risks before any issues arise;
Tax Planning to maximising tax saving opportunities prior to the end of the financial year;
The use of a corporate beneficiary as an investment vehicle; and
Comparison of your business’s performance against industry benchmarks.
Quarterly meetings with WMS will allow you to address the lingering questions that have been floating around in the back of you mind for some time, allowing you to truly enjoy the moments that count. Interested? Please contact us?
DISCLAIMER: This article is intended to provide a general summary only and should not be relied on as a substitute for professional advice.