Accountant Press Releases

The recent changes under the Tax Cuts and Jobs Act can make filing a tax return simpler.

Due to our dedication to exceptional client service, Lynco Financial & Tax Services, Inc. has once again been recognized by the Winter Haven Small Business Excellence Award Program.

Reuben Bergola, young entreprenuer and accountant making waves on the world stage

Lynco Financial & Tax Services Inc has been selected for the 2016 Best Businesses of Winter Haven Award in the Accountants & Tax Preparers category by the Best Businesses of Winter Haven Award Program.

Clubs are similar to businesses in many ways and they should also adopt best practices in terms of finances. It's important to ensure the organisation's viability as it directly affects its future, staff and volunteers.

You can protect your investment through a business succession plan with insurance funding should critical illness, disability or death occur.

If you could effectively minimise your tax, you just might be able to top up your superannuation, pay off part of your home or business loan, invest funds or even upgrade your car and have a holiday.

Bookkeeping company, Sky Accountants, give a few points on how you can design your club, pub or hospitality business to be profitable this year.

In March, Restaurant and Catering Association former and new CEOs Juliana Payne and Wes Lambert called for a wage increase freeze, saying it would significantly increase the financial pressures faced by restaurants, cafés and catering businesses.

Businesses: What you need to do Because of STP, you will no longer be required to provide payment summaries to your employees or lodge a payment summary annual report to the ATO for information reported through STP.

Using a small business accounting software can be a lot easier if it's available via the cloud. Traditional accounting can just take too much effort and time and doesn't add value to your business.

The prestigious 2019 Australian Accounting Awards recently awarded several Australian individuals and firms at a five-star gala in Sydney on Friday, 24 May.

Bookkeeping is important because it is critical to record your business' financial transactions. If you keep it accurate, you can better track your cash flow, pay taxes and manage your finances.

Inventory management can be challenging for restaurant, café, pub and club owners but they cannot escape it.

It's good to have a tax plan before the end of financial year comes as this will help you make sound decisions and maximise business returns.

PM Scott Morrison has secured his third term in office for the Coalition with an unexpected victory after voters rejected the Opposition's policy agenda.

There are plenty of figures in bookkeeping, POS and other business systems and it could be helpful to have the most important ones in a dashboard. With the help of hospitality accountants, create a weekly set to quickly measure results and manage them.

Payroll can get very tricky and confusing but it gets even more complex when you consider public holiday pay rates. Public holidays are part of Australia's employment standards and workers have the right to be absent from work during these days.

Businesses explain that Sunday and public holiday surcharges go to the additional operating costs that come with public holiday operations, including higher employee wages.

More than 15% of Australian employees are paid based on a modern award but plenty of employers are still non-compliant mainly because awards are complex and interpretations are not always straight forward.

Australia's accommodation sector is being influenced by new global and local brands, technologies and services. The Sydney hotel sector has started its dramatic expansion since the 2000 Olympics.

There are two types of dividends: franked and unfranked. A franked dividend has a tax credit attached to it while an unfranked dividend does not. The franking credit refund policy benefits those who own shares in companies but do not pay much tax.

Casual staff who have worked regular hours for at least one year may now request a permanent position. The ruling by the Fair Work Commission was implemented in October and is expected to provide casual staff with opportunities for permanent employment.

It is important for business owners to know what to report to the ATO so they can avoid making costly mistakes. Here are some fringe tax benefit related items that often attract the ATO's attention.

It is important to have an efficient bookkeeping system with security measures for a restaurant to be successful. Here is a guide to setting up a streamlined bookkeeping system for your restaurant.

It can be pretty daunting to run a payroll for a busy café or restaurant because of all the compliance surrounding PAYG tax, superannuation and Fair Work awards.

y Accountants has been shortlisted for the Australian Accounting Awards 2019. Sky Accountants has been named a finalist in the Australian Accounting Awards for Innovator of the Year.

Scammers can make the calls look like they originate from a legitimate ATO phone number with the use of technology. The number appears on caller ID and leaves voice mail messages that request for call backs.

On 6 April, Treasury Laws Amendment (Increasing the Instant Asset Write-off) Bill 2019 received Royal Assent.

The following is a brief rundown on the key tax related announcements included in the 2019-20 Federal Budget handed down last night (2 April) by the Treasurer, Josh Frydenberg.

There was a drop in revenue for cafes, restaurants and retail in Sydney because of an oversaturated market.

The ATO has reduced the timeframe it takes for SMSFs to become compliant and announced several changes with the process of issuing the compliance notice.

Businesses who fail to comply with their withholding obligations will be denied an income tax deduction based on new laws that will focus on the on-time lodgment of BAS.

For financial year 2019-20, the ATO will provide an exemption for closely held employees. STP reporting for these payees will start on 1 July 2020 and it is best to get a head start and consult with an accountant now.

Businesses often focus on fixed expenses such as rent, salaries and wages, machinery, vehicle and insurance, among others.