Month: October 2014

 More often than not, there are usually bills to pay. However, unless you are really stretched for cashflow, we would not recommend using this large lump sum to pay your everyday bills. This influx of cashflow was unexpected, and you should really use it for a purpose that is not for your day to day living expenses. That is, you should be able to pay your bills with the income you are generating!

      Here are some handy tips, that may help you decide what to do with this money!

 The best way to spend this large lump sum is to pay off any debt that has high interest rates (as opposed to bills such as the electricity bills). Eg. Credit cards.

Park it in your mortgage offset account, if you have one, to reduce the interest on your home loan that is for your main residence (not your investment property)

If you do not have an emergency savings pool – now is the time to start one! You may be asset rich, but are you also cashflow rich? Can you get access to funds quickly in an emergency? Only you know the answer to this!

Use the funds to invest in something that will generate profit or cashflow for you – buy shares! Use that money to start that new business that you have always wanted!

Finally, and this is one of our favourites – spend it on something that you really need, or want. Reward yourself if you have worked hard all year. Buy that coat you have been eyeing. Or that pair of shoes that you walk pass every day. Indulge!!

 More often than not, there are usually bills to pay. However, unless you are really stretched for cashflow, we would not recommend using this large lump sum to pay your everyday bills. This influx of cashflow was unexpected, and you should really use it for a purpose that is not for your day to day living expenses. That is, you should be able to pay your bills with the income you are generating!

      Here are some handy tips, that may help you decide what to do with this money!

 The best way to spend this large lump sum is to pay off any debt that has high interest rates (as opposed to bills such as the electricity bills). Eg. Credit cards.

Park it in your mortgage offset account, if you have one, to reduce the interest on your home loan that is for your main residence (not your investment property)

If you do not have an emergency savings pool – now is the time to start one! You may be asset rich, but are you also cashflow rich? Can you get access to funds quickly in an emergency? Only you know the answer to this!

Use the funds to invest in something that will generate profit or cashflow for you – buy shares! Use that money to start that new business that you have always wanted!

Finally, and this is one of our favourites – spend it on something that you really need, or want. Reward yourself if you have worked hard all year. Buy that coat you have been eyeing. Or that pair of shoes that you walk pass every day. Indulge!!

 More often than not, there are usually bills to pay. However, unless you are really stretched for cashflow, we would not recommend using this large lump sum to pay your everyday bills. This influx of cashflow was unexpected, and you should really use it for a purpose that is not for your day to day living expenses. That is, you should be able to pay your bills with the income you are generating!

      Here are some handy tips, that may help you decide what to do with this money!

 The best way to spend this large lump sum is to pay off any debt that has high interest rates (as opposed to bills such as the electricity bills). Eg. Credit cards.

Park it in your mortgage offset account, if you have one, to reduce the interest on your home loan that is for your main residence (not your investment property)

If you do not have an emergency savings pool – now is the time to start one! You may be asset rich, but are you also cashflow rich? Can you get access to funds quickly in an emergency? Only you know the answer to this!

Use the funds to invest in something that will generate profit or cashflow for you – buy shares! Use that money to start that new business that you have always wanted!

Finally, and this is one of our favourites – spend it on something that you really need, or want. Reward yourself if you have worked hard all year. Buy that coat you have been eyeing. Or that pair of shoes that you walk pass every day. Indulge!!

 More often than not, there are usually bills to pay. However, unless you are really stretched for cashflow, we would not recommend using this large lump sum to pay your everyday bills. This influx of cashflow was unexpected, and you should really use it for a purpose that is not for your day to day living expenses. That is, you should be able to pay your bills with the income you are generating!

      Here are some handy tips, that may help you decide what to do with this money!

 The best way to spend this large lump sum is to pay off any debt that has high interest rates (as opposed to bills such as the electricity bills). Eg. Credit cards.

Park it in your mortgage offset account, if you have one, to reduce the interest on your home loan that is for your main residence (not your investment property)

If you do not have an emergency savings pool – now is the time to start one! You may be asset rich, but are you also cashflow rich? Can you get access to funds quickly in an emergency? Only you know the answer to this!

Use the funds to invest in something that will generate profit or cashflow for you – buy shares! Use that money to start that new business that you have always wanted!

Finally, and this is one of our favourites – spend it on something that you really need, or want. Reward yourself if you have worked hard all year. Buy that coat you have been eyeing. Or that pair of shoes that you walk pass every day. Indulge!!

 More often than not, there are usually bills to pay. However, unless you are really stretched for cashflow, we would not recommend using this large lump sum to pay your everyday bills. This influx of cashflow was unexpected, and you should really use it for a purpose that is not for your day to day living expenses. That is, you should be able to pay your bills with the income you are generating!

      Here are some handy tips, that may help you decide what to do with this money!

 The best way to spend this large lump sum is to pay off any debt that has high interest rates (as opposed to bills such as the electricity bills). Eg. Credit cards.

Park it in your mortgage offset account, if you have one, to reduce the interest on your home loan that is for your main residence (not your investment property)

If you do not have an emergency savings pool – now is the time to start one! You may be asset rich, but are you also cashflow rich? Can you get access to funds quickly in an emergency? Only you know the answer to this!

Use the funds to invest in something that will generate profit or cashflow for you – buy shares! Use that money to start that new business that you have always wanted!

Finally, and this is one of our favourites – spend it on something that you really need, or want. Reward yourself if you have worked hard all year. Buy that coat you have been eyeing. Or that pair of shoes that you walk pass every day. Indulge!!

 One of the most challenging issues we face is word of mouth. Where the butcher tells the client that they should do this, to get the best tax result. Or the neighbour who has given advice, on what to do when starting a business. It is our worst nightmare to try and unravel this advice.

Ask about how we have come to our fee proposal – but never negotiate and ask for a better deal. Or that someone else has done it for less. Each firm is different in how they operate, and accordingly, each fee structure and service level provided is also different.

 In our industry, you get what you pay for. Actually that is probably the case in most industries. Accountants never (or they shouldn’t) knock the competition. So choose your accountant carefully, and do not always place a big emphasis on fees. Remember, it is the awesome results that you are after.

Your accountant really does love to see your business grow, and we really do enjoy the time we spend catching up with you and discussing your business/tax concerns. We may not always show it (but perhaps you can feel it!), but we feel really happy to know that we have contributed to your success (in a big or small way).

If your tax return is simple, you should do it yourself. It is a great way to learn about the tax system, and also save a bit of money on the way. Most accountants will happily take your money, and will not give you this option.

So here we have it. These are some of the things that your Accountant may be thinking, that they may not say out loud. But at JTR & Associates, we do say it out loud.

 One of the most challenging issues we face is word of mouth. Where the butcher tells the client that they should do this, to get the best tax result. Or the neighbour who has given advice, on what to do when starting a business. It is our worst nightmare to try and unravel this advice.

Ask about how we have come to our fee proposal – but never negotiate and ask for a better deal. Or that someone else has done it for less. Each firm is different in how they operate, and accordingly, each fee structure and service level provided is also different.

 In our industry, you get what you pay for. Actually that is probably the case in most industries. Accountants never (or they shouldn’t) knock the competition. So choose your accountant carefully, and do not always place a big emphasis on fees. Remember, it is the awesome results that you are after.

Your accountant really does love to see your business grow, and we really do enjoy the time we spend catching up with you and discussing your business/tax concerns. We may not always show it (but perhaps you can feel it!), but we feel really happy to know that we have contributed to your success (in a big or small way).

If your tax return is simple, you should do it yourself. It is a great way to learn about the tax system, and also save a bit of money on the way. Most accountants will happily take your money, and will not give you this option.

So here we have it. These are some of the things that your Accountant may be thinking, that they may not say out loud. But at JTR & Associates, we do say it out loud.

 One of the most challenging issues we face is word of mouth. Where the butcher tells the client that they should do this, to get the best tax result. Or the neighbour who has given advice, on what to do when starting a business. It is our worst nightmare to try and unravel this advice.

Ask about how we have come to our fee proposal – but never negotiate and ask for a better deal. Or that someone else has done it for less. Each firm is different in how they operate, and accordingly, each fee structure and service level provided is also different.

 In our industry, you get what you pay for. Actually that is probably the case in most industries. Accountants never (or they shouldn’t) knock the competition. So choose your accountant carefully, and do not always place a big emphasis on fees. Remember, it is the awesome results that you are after.

Your accountant really does love to see your business grow, and we really do enjoy the time we spend catching up with you and discussing your business/tax concerns. We may not always show it (but perhaps you can feel it!), but we feel really happy to know that we have contributed to your success (in a big or small way).

If your tax return is simple, you should do it yourself. It is a great way to learn about the tax system, and also save a bit of money on the way. Most accountants will happily take your money, and will not give you this option.

So here we have it. These are some of the things that your Accountant may be thinking, that they may not say out loud. But at JTR & Associates, we do say it out loud.

 One of the most challenging issues we face is word of mouth. Where the butcher tells the client that they should do this, to get the best tax result. Or the neighbour who has given advice, on what to do when starting a business. It is our worst nightmare to try and unravel this advice.

Ask about how we have come to our fee proposal – but never negotiate and ask for a better deal. Or that someone else has done it for less. Each firm is different in how they operate, and accordingly, each fee structure and service level provided is also different.

 In our industry, you get what you pay for. Actually that is probably the case in most industries. Accountants never (or they shouldn’t) knock the competition. So choose your accountant carefully, and do not always place a big emphasis on fees. Remember, it is the awesome results that you are after.

Your accountant really does love to see your business grow, and we really do enjoy the time we spend catching up with you and discussing your business/tax concerns. We may not always show it (but perhaps you can feel it!), but we feel really happy to know that we have contributed to your success (in a big or small way).

If your tax return is simple, you should do it yourself. It is a great way to learn about the tax system, and also save a bit of money on the way. Most accountants will happily take your money, and will not give you this option.

So here we have it. These are some of the things that your Accountant may be thinking, that they may not say out loud. But at JTR & Associates, we do say it out loud.