Harvee Pene

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“I can’t give you the secret to success but I can give you the secret to failure – try to please everyone”.  Someone famous said that a very long time ago and it is as true now as it was way back when.  But we’re all guilty of it in varying degrees in a variety […]
First of all, know your numbers inside and out.  Those of you who are familiar with Inspire remember that “knowing your numbers” is part of our mantra.  It’s the foundation upon which we help build significant tax savings, robust cash flow and better lifestyles for small business owners with young families.  Knowing your numbers will […]
If you can’t tell someone in two sentences what you do and why, your business is in trouble or heading that way.  Sure you may have a solid business structure, you’ve minimised your tax and things might be going well but your sales and/or service pipeline is kept full by a fuel called purpose.  Purpose […]
It’s the invisible expenses that hurt your business the most – he amounts that sneak under the wire of your business accounts every month or quarter.  And even if you were asked point blank to name them all, you just couldn’t.  But who cares, right?  They are just small expenses – subscriptions or memberships probably. […]
Most business owners agree that cash is the oxygen that keeps the heart of a commercial enterprise pumping.  It doesn’t matter if we’re talking about trades, financial services or product sales and distribution, without a healthy cash flow, things start looking pretty sickly.  So it’s always a good idea to build a cash reserve, an […]
The key to success is to work hard, we’re told.  But they’re only telling us half the story.  The often quoted saying should be amended to “the key to success is to work hard for a while and then enjoy the results.” If you set sail on the dream of providing for your family through […]
Pick any business structure you like to launch your small business, it makes no difference at all in the very, very short term… and then suddenly… the pain.  The type of pain that can really hurt you and your family because it will hurt your business right in the coffers. The Cash Rich Business workshop […]
[responsive_iframe][/responsive_iframe] The post Inspired Daily Vlog 001 Always on the move appeared first on Inspire CA – Family Small Business Accountants Brisbane.
Spending too much time and effort shaving valuable layers off your margins to remain competitive is literally death by a thousand cuts for your business.  It’s excruciating, time-consuming and unfortunately futile.  But as someone wise once said, “if you don’t like the answer, change the question.”  That is to say, instead of focusing on discounting […]
  Hope for the best, plan for the worst.  We’ve heard that a lot and the tax planning season, which is already upon us, takes elements of this saying into account.  Saving tax to ensure you only pay your fair share and operating under the right business structure, form the backbone of strategies that help […]
It’s always a great thrill when you look at your P&L and realise that you’ve made a profit.  Let’s face it, everyone loves a profit, especially when it’s big and healthy and we don’t even mind if it’s an unexpected event.  It’s hard to think of a circumstance where the sudden arrival of a substantial […]
An essential requirement for hitting a target is knowing where (and what) it is.  As we have mentioned many times before, if you have not yet worked out your “magic number” (your expenses + tax payments + payroll + your pay +10% for the war chest + money to pay down debt) or the amount […]
With only 8 weeks to go until the end of 2016/17 financial year aren’t you a little curious as to how your business will look, results-wise, come June 30?  The correct answer here is “no”.  Bonus points if you added an exclamation point.  Apart from curiosity killing a cat, what’s wrong with wondering if you […]
As we inch closer and closer to the end of the financial year and the conclusion of the tax season, there’ll be conversations around how your business did and how well you did on the tax front.  As accountants ourselves, we know that part of the glory and all of the blame rests with us […]
A reliable, recurring and regular income stream for your business from a single source is a wonderful thing.  Some businesses refer to them as retainers, others simply call it repeat business.  There are other names too but whatever you call it, from the outside looking in, it’s called a healthy and valuable business. You see, […]
  Inspire is built on the premise that we can help small business owners with young families, draw more happiness in the form of time and resources from the work they do.  One of the things standing in the way of owners achieving this goal is too much time spent on invoicing, bookkeeping and administration. […]
Harvee – Adam Houlahan is a friend of Inspire and a social media guru! He runs Web Traffic That Works, a social media agency that helps entrepreneurs gain influence and credibility online. He has a particular skill for LinkedIn, and this post is filled with some great insights on how to use it properly.  Plus… There’s […]
  In the lead-up to the busiest time of the year, if you’re an accountant, we have been putting a significant amount of time, energy and resources into… chilling out.  Yes, holidays, time out from the business, cultural immersion, all of that.  Some would simply say, “half your luck” and leave it at that.  Some […]
We all have to pay our fair share of tax – correct!  Whatever your accountant’s computer spits out, that’s what you have to pay – incorrect!   As the owner of a small business, you’re not dealing with the typical individuals’ single group certificate at the end of the tax year scenario.  Your business, even […]
  Those that do not learn from the past are doomed to repeat it.  Heard that one before?  Your P&L (profit and loss) statement is an honest-to-goodness, no holds barred account of how your business performed over a predetermined period.  It is a record of fact and leaves very little room for ambiguity.  After all. […]
If you are planning to build, establish, grow and benefit from a small business, protecting your assets should be one of your primary considerations.  Too many times you hear about people that have done brilliantly in business, only for something to go horribly wrong.  Then you’re shocked to find them and their families enduring real […]
It goes without saying that a business needs cash flow to keep operating.  If too many customers forget, delay or refuse to pay, your business could end up in serious trouble! Debt collection is an aspect of cash flow management where a lot of businesses underperform.  However, it doesn’t have to be difficult.  If you […]
Download the business owners checklist here When you’re starting out in business it can be overwhelming with all the things you need to get in order.  The easy ones are business name, accounting software and logos.  But few realise how extensive the list of start up to-do’s really is.  So we’ve put together the ultimate […]
Learn from mistakes without having to make them at our 17 Feb online workshop The big difference between winning occasionally and winning almost always is not only knowing the score but understanding the factors that can and will influence it.  Ben Walker   For some, taking care of your BAS (business activity statement) is like […]
An important component of managing cashflow is to increase the amount of cash that’s flowing in. Which of course means getting new business through the door.   How is that going for you?  Getting enough enquiries and orders, week after week? If you’re in the same boat as most business owners, you probably need more. […]
Your current account may be a dinosaur if he / she – Offers advice late or not at all Does only what you ask Basically just does tax Only sees you once or twice a year Charges you for a quick call or email Charges by the hour (or the minute) Charges like a bull […]
Question:   We’re negotiating our new office and discussing fit out etc.  The landlord is giving an incentive amount of $115,000 over 5 years. So we can either take this in rental reductions or a combination of rental reductions and fitout. I’m wondering whether we should take a combo of rental reductions and fit out […]
We recently had a question from a client, not about structuring for his business, but what his wife could do from a tax planning perspective. The scenario is the husband runs a business, and earns a good $130k profit.  And through proactive tax planning, we ended up saving him over $35,000 in tax, keeping his […]
https://www.facebook.com/InspireCA/videos/1560554290644528/ “Use Bucket companies – tax tip of the week!” I’d love to shed some light on what we call ‘Bucket Companies’, also called: Corporate Beneficiary Dump Company Family Vault Second Super And a few other creative ones! Why this strategy is so critical, is because it can help cap your tax rate at 30%. […]
Everyday business owners ask us “how do I get Cashed Up?”  We work with many businesses who are already well on their way to getting Cashed Up, but most are either drowning or just keeping their head above water. My reasoning as to why so many businesses are so cash poor is because they don’t […]
A question we get from time to time is about parents wanting to set up a bank account or a share investment portfolio for their children. We love this idea as it’s a great way for the kids to get ahead.  Whether the money goes to education in time, or helping them with their first […]
So, broadly speaking you’re looking to make capital gains or a sale of business assets or investment assets and just like any Australian, your intention is not to pay any more taxes than is needed on the gain on those when you do sell them. Great question. There’s three main ways, or tax concessions, I […]
Click here to download           The post 50 ways to Save Tax & Keep More of Your Hard Earned Cash | Checklist appeared first on Inspire CA – Family Small Business Accountants Brisbane.
“Hi Ben, I’m about to sell my business after building it for the last 10 years.  I’ll probably pocket $5M from the transaction (woo-freaking-hoo!).  How do I keep the tax man’s sticky little hands off my gains? Please help…” Ben:  First of all congratulations.  Wow! So, broadly speaking you’re looking to make capital gains or […]
“If not, why not?  Bookkeepers are.  Not doing my washing gives me more time to work in / on the business = more profit = more tax. So I believe it should be tax deductible” Answer: Cleaning definitely is tax deductible, assuming that you have a home office (dedicated, not just a laptop on the […]
If you’re business turns over between $2M and $10M, make sure you read this! Why do you need to read this? From 1 July 2016, businesses turning over between $2M and $10M in sales have now gotten access to the Small Business Tax Concessions that the ATO previously capped for businesses up to $2M in […]
Learn how to turn a BAS Deadline into a BIZ Lifeline. A common mistake in thinking for business owners is that “BAS time sucks.” And while paying tax isn’t everyone’s favourite pastime, BAS lodgements do give business owners an awesome opportunity to review the business numbers that matter, every quarter. This webinar will teach you […]
WE DID IT | $3M in proactive Tax Savings & 3M days of help to families in need across 16 countries. With every dollar of tax we proactively save a small business, Inspire will help a person in need for a day. Day for a Dollar As of dec 2017, we’ve given 3 million days […]
We are numbers people and WE BELIEVE THAT FAMILY IS NUMBER ONE Our model is simple Proactive Tax & Accounting that pays for itself in tax savings then Help to make the 7 Smart Financial Decisions of a Cashed UpTM Business. Perfect for Founders of 6 & 7 figure business owners WHO ARE IN BUSINESS […]
“Deep down I reckon every person wants to make a difference.  Maybe we’d all like to change something, but how do we do it?  How do we tap into the little part of everyone that wants to change the world and do it in a way that’s really simple?” Daniel Flynn, MD & Co-Founder Thankyou. […]
  6 Quick wins buying a business property in your family SMSF I’ll start off by saying that as a serial entrepreneur, I was fairly “Anti-Super” for a very long time.  That was until my best mate, business partner and tax wizard Ben Walker showed me how easy it was to become a SMSF Millionaire. […]
Happy New Year, Inspire Family. I want to support your success in 2018 by sharing with you 5 tools that I personally use every single week, that I believe are critical to business and life success in 2018. Bucket List – to help you live the good life. One Page Business Plan – get everyone […]
    Property Development in Kenya We visited Aberdare Ranges Primary school on Day 2, then we drove up the road to the village which is where most of the children live. We learned that much of the poverty and displacement was due to political violence in 2007.  Due to an election, if you didn’t […]
I’d like to clarify some thoughts around the tax on Bitcoin and cryptocurrency profits. Background of Bitcoin and Cryptocurrency Bitcoin has sometimes been referred to as the ‘currency of the underworld’. But whatever your view, it is likely that the currencies of the future will be cryptocurrencies. This topic is fairly controversial, especially in the […]
We are well known for a campaign we ran two years ago called Save $500,000 Tax. It was a bold and audacious target to save our clients half million dollars in tax by proactively implementing cutting edge tax saving strategies. We didn’t think we’d actually get the $500,000 tax savings but we knew that we […]
It’s always been our mission to help families pull more money, time and happiness from their business… But if you look at the stats, not a lot of businesses are actually achieving this… Of the almost 1.9 million small businesses around Australia, 60% either – earn less than $200,000 in revenue cannot afford a team […]
This week’s Client Webinar is on Setting up Single Touch Payroll on Xero. We explore a number of things around Single Touch Payroll, or ‘STP’: – What is Single Touch Payroll? – Who is it for? – When does it start? – How do you do it? We show you click by click how to […]
The Federal Budget for 2019-2020 is in. Liberal and Labor have put forward their economic and fiscal outlook, including expenditure and changes to tax and super. In this article, we’ll outline the key elements of both parties budgets, and how the changes will affect you. Please note, the views in this article are our opinion […]
  This week, Business owners around Australia are getting smashed with BAS & PAYG Tax Bills.  While there’s no way to avoid paying tax (other than earning no profit or doing something dodgy / illegal) here’s 5 ways you can experience some Small Business Tax Relief …   >> PAY IT <<   No one […]

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