Tag: small business

When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice…  Read more

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. The first step to reducing your overhead costs is to evaluate every single expense you…  Read more

Although we are in a post-COVID normal, many business owners and employees still work from home in some capacity. This incurs additional costs that can be deductible at tax time. However, you can’t claim everything,…  Read more

As an accounting firm, we understand that it can be hard to stand out amongst the crows. But here at XO Accounting, we pride ourselves on ensuring you get the most our of your business…  Read more

When you’re an entrepreneur, your to-do list is often long and constantly growing longer. There are an overwhelming number of things you need to do, and it can feel like they’re all urgent. In such…  Read more

Tax time is fast approaching, so it’s important to know what you can claim. One category you may not think about is clothing and grooming. The ATO has several stipulations for whether you can claim these,…  Read more

End of financial year is a good time to review different aspects of your business and plan how you want to move forward in the new year. You have a years worth of data to…  Read more

If you are a foreign business owner looking to establish your company in Australia, it is a regulatory requirement to have at least one director who is an Australia resident. XO Accounting can provide this…  Read more

With the end of financial year quickly approaching, it’s important to get your tax information together early. Use the checklist below to ensure you are well prepared before visiting your accountant. Income PAYG Summaries Pensions…  Read more

Sales are Not Profit The biggest mistake for start up business owners is assuming your sales are profit. Sales are what comes into the business, whereas profit is what is left over after all necessary…  Read more