Budgeting & Forecasting
The key to any successful business is forecasting and budgets. There are many competing demands on your cashflow. Your budgets need to include tax planning, debt servicing and business expansion. One of our aims will be to minimise tax through effective tax planning which can be incorporated into your budget. It would be naive to think that everything will go "according to plan" so we constantly monitor your performance against your budgets and goals. Together we can work out what corrective action (if any) is necessary. We approach the planning process in three major segments as follows:
- Financial Budgets and Forecasts (ie where is all the money going?)
- Minimise tax and tax planning
- Succession (Retirement) Planning
We then combine these plans and budgets together into your Strategic Plan. This plan takes into consideration the taxation aspects of your planning and the financial demands of your business and lifestyle. We also project forward and look at how you plan to retire from your business, namely:
- Sell to a third party?
- Hand the business over to your family?
- Sell out to your partners?
- Hand the business over to your key staff?
- Minimise Tax
All of these options require careful planning and will affect your taxation position, investment decisions - right down to the very structure of your business and personal affairs. You need timely, accurate advice - and we are uniquely placed as accountants and investment advisors to give you that advice. Contact us today.
