I started my own business when I was 23. For that reason I needed accountants who were savvy with business and could give me the guidance I needed. Freedom Finance Accounting have given me all that and much more
Assist you with all aspects in starting up a new business by:
- Establishing the financial viability of the business to ensure it will improve your financial position.
- Identifying business funding requirements, working capital and the optimum source of loans.
- Advising on the most suitable business structure, assisting in structure set up and attending to all necessary registrations such as business name, TFN, ABN, GST, PAYG, Work Cover, and superannuation.
- Planning for future tax liabilities to avoid cash flow shortages.
- Advising on record keeping requirements and options available for manual and computer based systems
- Ensuring your business start-up is smooth, hassle free and successful so you can focus on the running of your new business and its growth.
Advising on all aspects of the business purchase process by:
- Determining the level of business profit you need to make to ensure investment in the business is financially worthwhile and a sound decision
- Reviewing business information provided by the vendor to determine whether the business is worth purchasing
- Establishing what is a reasonable price for you to pay for the business given its past trading performance and future expected profitability with you as the owner
- Advising on the apportionment of the business purchase price between stock, plant & equipment and goodwill to maximise your income tax and capital gains tax position
- Advising on all aspects of GST as it applies to the business and your GST obligations
- Using our vast experience to ensure you avoid the many possible pitfalls in purchasing a business
Assisting you achieve the maximum price you can on the sale of your business by:
- Advising on the best way to present your business for sale and the must do steps to take
- Valuing your business to determine what its market value is (which may differ from the asking price)
- Advising on matters to be included in the sale contract
- Advising on the apportionment of the sale proceeds between stock, plant & equipment to maximise your income tax, GST and capital gains tax position
- Structuring the sale to ensure GST is not required to be paid
- Advising on capital gains tax including the small business capital gains tax concessions to ensure the minimum or no capital gains tax is paid
Get in touch!
Contact us today to learn how we can help your business.