Can you recommend a low-cost business accountant, Mandurah area?

Geekomatic on 12/02/2014 - 23:46

Hi everyone,

As the title says, I need to discuss my new small business with an accountant. This is a home-business, btw. I've called Finucare & Anglicare- but they only help with taxes & other things- not accounting.

What's happened is that I recently moved house due to the other property going on the market, and the current home has become too small for me to take on the work that I now have coming in. I am leased until Sept. of this year- & frankly, I like the place & the owner.

I have a chance to take on the 2nd property (a granny flat- but subdivided with own address & meter) where I currently live. What I'd like to do is to sit down & discuss my options & where I stand, atm. I have some savings & I have a good feeling that I'll be able to swing the extra money out— but I'd like to bounce the numbers off of someone knowledgeable.

The "low-cost" comes into play because while I have some savings- I also have two kids, one in uni full-time, the other in high school— & I am the only income. The savings is my "emergency fund" for them. I hold a HCC from Centrelink along with the concessions afforded to low-income people. I am hoping to get away from all of that in the future!

Anyway, I have looked at other options- such as leasing a commercial building- but:

1) they are crazy-expensive &

2) I need to be at home for the benefit of my young daughter- who is going through a rough patch right now & I can't risk her alone at home.

So yeah. That's it in a large nutshell. If there are any OZB'ers in the Mandurah area (& surrounds) who have a brilliant accountant, please pipe up. Even if you don't consider them "low-cost"- please let me know what you're being charged & at least I'll have something to go by?

Ta! :)

Financial

Comments

  • ilostnemo on 13/02/2014 - 11:13

    You are leased till September.

    If you can't break this lease, you are stuck.

    I don't know why you need an accountant, you need to just sit down and write out the figures and see, if its doable.

    I see you are a financial consulting business, your first client is you. Do the sums, write it all down and try and make it work.

    Good Luck

    • Geekomatic on 13/02/2014 - 15:13

      You are leased till September.

      If you can't break this lease, you are stuck.

      I don't know why you need an accountant, you need to just sit down and write out the figures and see, if its doable.

      I see you are a financial consulting business, your first client is you. Do the sums, write it all down and try and make it work.

      I don't want to break my lease— I am leased in the place I live until Sept. I have the chance to take on the flat at the back, as well, to use exclusively as my business location. I want to know the best way to do things to maximize my money/deductions. In that, a good advisor would be able to see where I might be missing out on some things I'm not even aware of.

      I'm not a financial consultant- I do computer work.

  • Angelababy on 13/02/2014 - 11:41

    Hi,

    Accountant here.
    The cost of running your business at the granny flat (additional rental, bills etc) are 100% deductible business expenses as long as you only use it for business purposes (as office/factory) and live in the house.

    If you produce your work at the granny flat (use it as a workshop/factory)but you also have a dedicated room in the house for paperwork/meetings and phone calls with clients etc then you can claim a % of rent and bills worked out based on floor space of office.

    Is that your Q?

    • Geekomatic on 13/02/2014 - 15:05

      Hi Angela,

      The entire flat would be used as my business location- every bit of it. Is the "cost of running" different than the amount available to claim as far as the deductible rental amount? I assumed that it was 100% deductible- right across the board?

      See? This is what I mean. I'd like concrete answers to my specific situation. And trying to glean anything useful from the ATO site is pointless. They redirect you all over the place & in the end say, "consult an accountant"…

      I'd like to have a local person to go over all of it with me. Do you have any leads on accountants in the Mandurah area, by any chance?

      Ta.

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