General Archives

MYOB vs Quickbooks vs Xero: Which Accounting Software is Best for Your SMB?

Managing your finances effectively is crucial for your small or medium-sized business (SMB) success. With the advent of technology, numerous accounting software options are available to streamline your financial processes and make your life easier. Three popular choices among SMBs are MYOB, Quickbooks, and Xero. But how do you determine which one is best suited …

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How to apply for ABN as a contractor in Australia

How To Apply for an ABN as a Contractor?

General / By Max Margin Accountants

Working as a contractor offers flexibility and autonomy, making it an increasingly popular choice for professionals across various fields. If you’re venturing into contracting in Australia, one of your first essential steps is to apply for an Australian Business Number (ABN). MaxMargin Accountants understands the importance of this process, as an ABN not only legitimises …

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Top 5 Tax Deductions for Small Businesses in Melbourne

General / By Max Margin Accountants

Running a small business comes with many complexities, not the least of which is navigating Australia’s tax laws and regulations. While daunting, understanding how to legally minimize your tax burden through deductions and exemptions can provide a major boost to your bottom line. In this post, we’ll outline the top 5 most valuable tax deductions …

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Preparing for End of Financial Year: A Checklist for Sole Traders

General / By Max Margin Accountants

As the end of the financial year (EOFY) approaches, the phrase “tax time” often stirs feelings of apprehension, especially among sole traders. Juggling the responsibilities of running a business and preparing for EOFY can be challenging. However, with a bit of organisation and preparation, tax time can become a much less daunting period. We, at …

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5 Benefits of Tax Planning: As Essential Guide for Small Business Owners in Melbourne

General / By Max Margin Accountants

Introduction Are you a small business owner worried about how taxes might affect your profits? Don’t worry – with strategic tax planning; you can deal with the situation most effectively and improve your bottom line. Tax planning is a strategy that focuses on minimising the amount of tax to be paid in a year on …

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A Stress-Free Approach to Tax Returns for International Students Studying in Australia

General / By Max Margin Accountants

As an international student studying in Australia, managing your finances and understanding your tax obligations can be challenging. With so many rules and regulations to keep track of, the process of filing a tax return might seem overwhelming. Worry not! In this comprehensive guide, we’ll walk you through everything you need to know about Australian …

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Overcoming Seasonal Cash Flow Challenges: A Guide for Melbourne’s Small Businesses

General / By Max Margin Accountants

Melbourne’s small businesses, like many around the world, often face seasonal cash flow challenges that can significantly impact their financial health. Seasonal fluctuations in demand, tourism, and even weather can lead to periods of reduced revenue and heightened expenses. By understanding these challenges and implementing effective strategies, small businesses can minimize the impact of …

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Tips to combat the Economic crisis during the COVID-19 Pandemic

General / By Max Margin Accountants

We understand. 2020 is one of our least favourite years right now. Nations from all over the globe are taking the necessary interventions to gear up for a significant recession period during the Covid-19 Pandemic. Likewise, the business industry is also suffering to no small extent, starting from slow sales to complete collapse. Despite the …

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Keep Safe Online during Tax Time – Scam Alert

General / By Max Margin Accountants

FEW IMPORTANT POINTERS BELOW SHOULD BE CONSIDERED TO STAY SAFE ONLINE To know detail information regarding the ways to stay secure online, Click here on the link and find out the few important ATOs pointers on staying secure during the tax period If you are not sure about the effectiveness of an ATOs conversation then …

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