Fusion Blog

I just got back from 2 weeks in Hawaii to open up my latest tax return from my Accountant. I quickly scanned the letter to see the amount I was going to have to pay. Bingo, there it was at the bottom of page one. Now I won’t share the exact figure with you but I will say that it was five figures. This is a moment that most business owners dread but for me it was just tidying up a loose end. I had no emotional reaction to the relatively large tax bill. This may sound surprising but the reason I didn’t have a large reaction is because the tax bill was as I expected and I already have the money for that bill stashed away.  ..

A few years ago, I learned the lesson of “pay yourself first.” I’m sure you would have heard of this concept before – it is often quoted as a foundation principle for building wealth. Anyway, it was at a time when I was learning how to manage my finances better. I was a great spender… I loved shoes and clothes and nice cars and I was fortunate enough to be able to treat myself to these things. What I didn’t have was a great saving strategy.  ..

I want you to imagine that you are the proud owner of a new car. It is your pride and joy. You have wanted this car for such a long time and it has been through your hard work that you have finally realised your goal. ..

I started my career as a Chartered Accountant. It was the sensible career choice and my parents were  delighted. Unfortunately I wasn't quite so delighted so when I moved to Australia in my early twenties I saw it as an opportunity to put the world of audit and tax returns behind me and I moved into commerce ..

The 30th June is fast approaching and now is the time to stop and check that you have all of your financial matters in order. There is nothing worse than hitting the 1st of July and realising that not taking care of the detail has cost you a valuable tax deduction.

The best advice I can give you is to speak to your Accountant TODAY! Check that everything is as you think it is and make a list of everything you must do prior to the 30th June 2012. It’s a small task that could save you big dollars!
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 Bill Gates once said…   “How you gather and use information will determine whether you win or lose.”

It’s true, information is critical because your business operates in a dynamic and ever-rapidly-changing environment… the question is, do you know what’s changing inside and outside of your business?  ..

A recent management study revealed that only 44% of businesses survive longer than four years. And one of the main reasons these businesses fail is not because they're not profitable, but because they run out of cash.
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