How we helped peopleBuild the business they want for the life they aspire to

Accounting Fees, I imagine paying them would be right up there with the paying the dentist after a tooth extraction; Painful, and expensive. Maybe that’s why my subconscious led me to study accounting. It was self preservation!

It’s scary, I know, quitting your job when you’ve got a family depending on you. You’ve built a life around an income – a mortgage, young kids, bills to pay, a standard of living you’d like to keep and a retirement that’s approaching all too fast (well, kind of).

A family trust is an agreement where the trustee (either a person or company) holds assets for the benefit of others - like family members. There's lots of names thrown around; family trust, trust fund, discretionary trust and lots of confusion about how trusts work so if want to understand what they are, and how they work then you've come to the right place. Strap yourself in, and trust me....

Choosing how to structure your business takes some forethought. In Australia, there are four common ways to go about it, and being a sole trader is an easy way to get started, but it’s important that you choose carefully. After all, the structure you choose will impact the licenses you have to obtain, how much you owe in taxes, and your potential personal liability in the event of issues.