Increasing the average transaction size will increase sales revenue. For example, a 20% increase in average transaction size will result in a 20% increase in total sales revenue. To implement this strategy: Change the product or service mix – i.e. add higher priced products and/or reduce lower priced products. Bundle products…
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These 10 Tax Strategies apply to the majority of employees & produce the biggest tax savings (on average). Tax Strategy 1 – Salary Packaging Private Motor Vehicles Makes private motor vehicles tax deductible (average $3,000 tax savings pa). Tax Strategy 4 – Transporting Heavy or Bulky Equipment Makes home to work travel deductible (average $3,000…
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Unni Ashok, a TaxFitness subscriber since June 2017, operates an accounting practice at Nundah, QLD. He has recorded fee growth of 316% for the 2019 financial year and attributes that growth to five things: Positioning himself as a tax planning expert – business clients like to feel/know they are dealing with an expert in the…
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Unlike private companies, under the Corporations Act public companies can raise capital from the public, and have unlimited shareholders. These two attributes make public companies an attractive structure when businesses need to raise large amounts of funds. Compared to private companies, public companies are subject to additional administration and regulatory costs (i.e. half-yearly financial statement…
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Raising your selling prices will increase sales when your product or service has an inelastic demand curve i.e. when you raise prices and there is minimal or no change in volume sold. This is a profitable strategy when higher prices produce greater gross profits due to increased profit per unit, even if volume has fallen. …
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Objectives: Peter is a small business owner who wants to save tax and reduce his child maintenance payments. Facts: Peter’s business has a taxable income of $77,000 and is growing (taxable income is expected to double next year). Peter is divorced and pays child support of $12,000 per year. Accountant’s Advice: Tax Strategy…
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These 10 tax strategies apply to the majority of businesses & produce the biggest tax savings (on average) TS 1: Salary Packaging Private Motor Vehicles – Makes private motor vehicles tax deductible (average $3,000 tax saving pa). TS 12: Concessional Super Contributions – $25,000 deductible contributions cap (per taxpayer). TS 32: Change…
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Capital city: Banjul Currency: Dalasi (GMD) Population: 1,882,450 Language: English GDP: …
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A smartwatch is a wearable computer in the form of a wristwatch. Their functionality is similar to smartphones and includes: Mobile apps. Mobile operating system. Wi-Fi/Bluetooth connectivity. Portable media players, with FM radio and playback of digital audio and video files. Making and receiving phone calls. Sending and receiving emails. Digital cameras. Heart rate monitors.…
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Lowering your selling prices will increase sales when your product or service has an elastic demand curve i.e. when you slightly lower your prices, volume goes up substantially. This will be a profitable strategy if lower prices produce greater gross profits due to increased sales volume even though the profit per unit has fallen. …
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2