Former banker and now financial guru Matt Spears, is the expert at the August Business Breakfast Series powered by REX Roundtables.
We’ll be chatting through these questions:
- There are really three stakeholders, other than ourselves, who want to know the state of our financials: our accountant, the bank and of course the Tax Department. What is the timeline for getting information to them, is there an order and should we be ensuring we send any specific piece of information to one or all of them?
- Many businesses and possibly individuals are cash poor at the moment. So let’s imagine we get a tax refund for the business, what should we do with that cash? What about personally? And what happens if for some reason we get a tax bill but don’t have the cash to pay?
- How should we use credit cards in our business – e.g. should we have one for business and one for personal? Do we pay it off every month? Do the banks look at credit card debit if we want to borrow personally for a car or get a business loan?
- Many of us have debt in our lives – personal debt and even business debt with business loans, leases, credit cards. home loans – what should we be looking at doing based on such a variety of factors like COVID; low interest rates; or even new financial year.
- For Australian business owners, what is the biggest mistake you see around collecting GST and then paying the quarterly BAS?
- Finally, how do we determine IF we should be working with financial professionals? Who should we be working with & how do we determine they are qualified to help us? These people obviously come at a cost, so how would we measure the success of working with them? And then what should be included when writing a ‘brief’ to them to help us as business owners?
- Friday 20th August @ 8:45am (AEST)
Thursday 19th August @ 6:45pm (US EST)