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What Services Do I Need for Financial Health?

How's your financial health? Robust, unstable … or, what financial health?

Whether you're an individual or small business owner, your financial health can affect other areas of your life.

Many people get the jitters when they receive a letter from the Tax Office. In fact, any letter that remotely feels finance-related could send people's heads spinning. It can be a nerve-wrecking experience. What do they want? Am I being fined? Have I forgotten to submit something? Where do I start? What do I need to do next?

CATS4TAX knows what individuals and businesses need to feel the relief of having their financial issues taken care of professionally. What drives us in our job is being able to put people at ease with our knowledge and experience of handling taxes, accounts and financial issues.

Taxes and numbers really don't have to be so terrifying. Once you understand the language of numbers, you'll feel your stress melt away. We work on giving you clear and transparent information. We make numbers manageable and a source of valuable information to help you focus and grow your business. When you have accurate and timely accounting information, you can then make reliable decisions about how to allocate your resources.

CATS4TAX has a range of financial services to ensure you stay financially healthy, whether you're an individual or a business.

Range of Tax Return Services

There's a wide range of situations where you're obliged to lodge a tax return. This is where we can help if you're not sure. Young or elderly, personal or for business, you may well be required to lodge a tax return. The process isn't as scary as people may think, and that's what we do best - taking the terror out of taxes and financial situations.

Here are some situations where clients have benefited from our services:

1) The Young and Elderly

Are you under 21 and working casually? Did you know it's necessary to file your tax returns?

As a senior, you may be in a situation where you actually need to lodge your tax returns. We can help clarify if you need to do so.

2) Personal Taxes

Personal Tax Returns can feel intimidating if you're in a situation or trade that has special requirements. Did you know that tax concessions are available for some special professions (e.g. musicians, artists, sportspersons)?

We can help you clarify your situation and what you need to do to ensure your personal tax returns are done cleanly and you don't miss out on any requirements or concessions.

3) Business Taxes

If you're starting up a business, we can help lodge your Sole Trader Tax Return and BAS Lodgements. As long as you have an ABN, we can help you organise all you need to be up to date with your tax obligations.

Financial Clarity for Businesses

As a small business owner, you may not have the financial power at the moment to have a full-time accountant, or you may not have enough knowledge about accounting to be able to handle all the numbers. Using paper ledgers, outdated systems or being confused about which platform to use means not getting a clear picture of the financial health of your business.

Small business owners with an ABN have come to us to handle their tax and accounting. We offer the flexibility for business owners to choose what they would like us to handle - bookkeeping, accounting, payroll, cashflow forecasting, Xero etc. If you're just starting out, you may need guidance on registering a business name or an ABN and have a discussion about any accounting software you may need. Once your business is steady, we can look more in-depth at bookkeeping, annual financial statements, business financials forecasts, cashflow budgets etc.

Regardless of whether you're just starting out or more established, our services can help you start off clean and right so you can focus on really taking your business off the ground, or we can help to identify what your business needs to improve your financial health and achieve your objectives.

Xero Technology

We're a certified Xero trainer and advisor for Xero cloud accounting software. We help you set up and get trained with Xero, which can be used anytime, anywhere. Xero has a range of add-ons and apps - we guide you to identify which ones are more relevant to your business. Ultimately, the aim is to bring you financial clarity so your business' financial health can be robust and you spend your time efficiently on what matters most.

Xero comes in especially useful when doing year end procedures. Closing the financial period involves looking at your bank accounts, invoices, claims and bills and ensuring they are all in order. While some simple tasks can be done on your own, it is a good idea to get your accountant or bookkeeper to log in to your Xero organisation to help you review and check everything is correctly done. There are some more complex year-end tasks like running a trial balance report, verify balance sheet items which are better left to the professionals to do. The convenience of Xero is you and your accountant can make adjustments directly into Xero and once everything is done, a lock date can be set to prevent further changes made to the data.

With our wide range of tax and accounting services, you can be at ease knowing your accounting systems are up to date and you have clear, transparent insights to make the best possible business decisions to help your business grow. With clear financial data, you feel more in control and motivated to go further in your business. Our clients come to us for peace of mind, knowing they can trust us to guide them on their financial journey.

With the amount of time, energy and money we spend on growing a business, when the financial health of your business improves, so does your general mental and physical health. It ultimately translates to a better quality of life.

Relief from tax stress and financial confusion is possible. The work we do has a ripple effect on our clients - it goes beyond just making sense of numbers or straightening out records. Here's to more than your financial health. Cheers.

Get in touch with CATS4TAX:

0404 483 685

Lyndall Ward, CATS4Tax Business and Tax Accountant


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