New Year’s
HEALTH CHECK
ACCOUNTANT
CHARISSE RUSSELL
Director
It’s time for a health check. A Business
Health check that is.
As another Christmas and New Year’s
celebration fades into the past along
with our resolutions (even those posted
on social media with an inspirational
quote over a picture of someone
doing yoga on the peak of Everest with
dolphins and unicorns frolicking in the
distance) the time to take a look at the
way your business is going is upon us.
Getting back into the swing of things
can be an ‘All Hands On Deck’ situation.
But it’s important to take a little time
now to step back and have a look at
how things are going for your business
and to take in the bigger picture, which
can often be almost impossible to see
when you have your head down in the
trenches.
The following are a few things to go
over:
1. How are you tracking to meet your
financial goals for the financial year?
If you didn’t really set any, take a look
at where you are now and set a goal
to achieve by June. You don’t need a
detailed plan for world domination, just
an amount that would make keeping
on top of the bills easier to achieve.
2. Given the state of your Financial
goals, have you been paying enough tax
instalments to avoid a nasty bill when
you lodge your return or should you
increase your payments.
3. How well are you keeping on top
of your workload and customer
expectations? Is it time to take on a
new staff member (the 20K Youth Boost
has been extended until June 2018) or,
is it time to make the hard decision to
reduce your staff hours or numbers.
4. With the $20,000 instant asset write
off still in play, it’s about now that you
should start to assess whether or not
buying new equipment to offset against
any tax payable next financial year is a
viable option for you so that you don’t
end up making a rushed decision
during the June sales push.
Not all of the suggestions listed may
apply to your business situation, but
it is always important to take a step
back from the everyday grind in order
see the bigger picture to help you see
where you are, and to make sure that
you are where you want to be.
Charisse Russell is a Chartered
Accountant with over 17 years’
experience in accounting, audit and
taxation. Her passion lies in changing
lives through her approach in being a
coach, advisor and mentor. Charisse
has two gorgeous munchkins and has
an amazing husband. Charisse is part
of the Tax Store network of accounting
practices and runs and operates HKS
Russell [Business | Accounting |
Consultants].
Charisse Russell [CA, NTAA, BCom]
1/101 Mulgrave Road, Cairns QLD 4870
P: 07 3177 4120
M: 0417 634 193
E: [email protected]
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