The Inland Revenue have recently made some changes to the calculation for reimbursing employees (which can inlcude owners) of small businesses for vehicle costs relating to business travel. Details on the new rules can be found here In essence the rules have been expanded to cover more than 5,000 kilometres per annum. The new rate for up to 14,000 kilomteres per annum is 76 cents and after that it is… Read more
Have you ever got to the end of a week and struggled to remember where your time went, or do you sometimes feel like you are a slave to your business? You will find it is often because of constant interruptions, firefighting, crisis management and other people imposing their problems on you. What can you do about this? Well, I am about to do something that chartered accountants do not… Read more
Know Thy Numbers To Grow Thy Numbers If you’ve spent any time around the Bishop Toomey Pfeifer team, you will have heard our favourite phrase. You have to know thy numbers to grow thy numbers. It makes sense. You have to know how your business is tracking, what’s working, and where improvements need to be made to have any chance of growing your business. What if you’re not a numbers person?… Read more
What you can measure you can manage Most small business operators are lazy about keeping records to help them improve their business. They’d say they are too busy. If you provide services, you need good time recording to measure your performance. It’s very onerous keeping time records, but if you’re prepared to do it well, it will add thousands of dollars to your profit. You must keep a record of… Read more