Joe Kaleb is the CEO of http://www.australianbiz.com.au, a website that provides up-to-date tax information, management tools and other services to assist business owners to better manage their business and income tax obligations.
Year end tax planning for small business owners is essentially the use of legitimate strategies to accelerate deductions and to defer the recognition of income. Where the business owner has chosen to adopt the “Simplified Tax System” (STS), there are a different set of rules applying to some of these strategies.
The start of the New Year is a good time for business owners to undertake a review of their business and to begin making resolutions to get the business moving forward in 2007. Here are some of the strategies that owners should consider adopting all year round…
Year end tax planning is the use of legitimate strategies to accelerate deductions and to defer the recognition of income. Where the business owner has elected to adopt the "Simplified Tax System" (STS), there are a different set of rules applying to some of these strategies.
The most common tax planning strategies that business owners should consider prior to 30 June 2007 include: �
Out there are thousands of businesses where some business leader has learnt the simple rules of creating not just a good operation but a great one. And he or she has committed their resolve to make it happen...