What Sort Of Records Should I Be Keeping As A Freelancer?

As a freelancer, bookkeeping can sometimes become very difficult. Unfortunately, a lot of people aren’t really sure about what sort of things they should be keeping records of and what is unnecessary, which tends to lead to one of two situations:

  1. A lot of time is wasted on keeping records that simply aren’t necessary. This time could be better spent on other aspects of the business.
  2. The records that are kept simply aren’t good enough, which can lead to problems when it comes to submitting a tax return. Most freelancers only make this mistake once or twice.

As you can see, understanding what your record keeping and tax requirements are as a freelancer is very important.

First, consider how the ATO sees you:

If you are a freelancer, the Australian Tax Office (ATO) will see you in one of two ways. If you only freelance part time and don’t earn very much, then your freelance work may be seen as a hobby, which means that you don’t have to pay any tax. However, if you earn a decent amount, and undergo the freelance activity with the purpose of making money, you will be classed as a business, and will have to pay taxes.

Unfortunately, it can be difficult to decide how the ATO will see you. Usually, your activity will be defined as a hobby if it is largely for pleasure, if it makes you money to cover the costs of tools or materials, and if it is not undertaken commercially. As soon as you start doing something with the aim of making a profit or on a commercial scale, you will be classified as a business. If you are unsure, contact the ATO for a private ruling.

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What to Do When That Mortgage is Finally Paid Off

Many people spend a large part of their lives paying off the mortgage on their home. Those who are wise, seek the advice of a financial planner like www.andep.com.au to help them reduce the interest and get the debt paid as soon as possible. This kind of financial planning can mean you save thousands and may even be able to pay of the debt earlier. So what happens when it is finally paid off?

Apart from throwing a party to celebrate, there are many things you can do.

  • Go on a cruise or a trip
  • Buy something you always wanted
  • Enjoy being debt free
  • Keep on paying the same amount of instalments into a savings fund

After spending 20-30 years paying the mortgage off, if you’ve been able to still live comfortably during that time, paying the same amount into a savings fund shouldn’t really worry you. At least you’ll still have it as your own money rather than seeing it all go to the lender. When you consult with a financial advisor, they will be able to advise you on the best way to invest that money to grow your wealth.

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The Importance of Dress Sense in Business

Dress sense is not something difficult to achieve once you understand what it includes. Being well dressed in business will help you to gain the respect and position you deserve. Some people choose to enhance their looks with Botox injections; others choose to make the most of themselves by choosing styles and colours that suit them.

Both are good choices, as Botox treatment can eliminate ageing wrinkles from your face and can also be used to prevent underarm sweating which will ruin any kind of outfit you wear. Men especially, are prone to sweating and those white or blue business shirts certainly show up the wet patches. You also have to think of body odour when you sweat excessively.

Why colours are important

No matter if you’ve bought the most expensive and elegant outfit for work, wearing the wrong colours can make certain skin types look sallow or pale and that often makes you look as if you are unwell. That’s not the impression you want to give the boss or anyone else you have to deal with in business.


Wearing colours that suit your skin type will enhance your looks and make you more attractive. Knowing you look your best gives you more confidence. When you have confidence you relate better to others and this can certainly give you an edge over the competition in the workplace. When management sees that customers are happy dealing with you, they’ll be more likely to give you a promotion or a pay raise.

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5 Strategies to Help Manage the Cost of Business Litigation

When a business goes through the unpleasant mess of litigation, it will cost them a great deal in legal fees to their lawyers as well as what they have to pay the person who sues them – always supposing they win. However there are other costs that are largely hidden and often cannot be recovered, let alone even worked out because of their very nature.

The cost to the reputation of the company can bring it to its knees because such things can drag on for years. During this time the media will make a big fuss and the public tend to think, Where there’s smoke, there’s fire. In other words, they convict the company in their minds and this usually translates into not dealing with them anymore.

The CEO and other management have to spend a great deal of time with their lawyers and external stakeholders – they may even bring in external risk and reputational management professionals with whom they will have to spend time. This means they are not focussed on managing their business to the extent that they should be. Under such stress, they may make poor business decision, or lose a client due to neglect. This too, has a great cost that can never be worked out.

So here are 5 ways a business can manage the cost of litigation

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How to Choose a Digital Agency

Once you have decided to get your company’s website up and running you will need to choose a digital agency to help you with the many elements that are essential for success. It is important to think carefully about what your business needs so that you can choose the best agency – one that you will be able to work with, that has the skills needed for your particular business.

Find out what they offer

Not all digital agencies offer the same things. One might only design and implement websites and not do any social – or other – marketing. Another may perform SEO but nothing else. You need a digital agency to have the skills required for your business so it is vital to speak with them first and find out exactly what they offer.

Choosing the right professional digital marketing agency is somewhat like choosing the right builder. If you want a high end home built, you would not choose a project builder who prefers to erect cheaper homes, or vice versa.  Once you have found several builders, you choose 3 and ask for quotes. So you can do a similar thing when choosing a digital agency.

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How to Get the Best Out of Your Adwords Marketing Campaign

Once you have decided to dip a toe into the waters of an adwords marketing campaign you will need to do everything possible to ensure success. Unless you have a large budget, you may be concerned about what adwords will cost. If your budget is low, here are some tips to help you.

  • Don’t aim for those high ad positions. Most people think the top three ads are the place to be as they will convert best. However, analytics show that this is not true. Often, the lower positions get better conversions. Experts have found that many people who click on the top ads do so on impulse, rather than because they are looking for something specific with the intention of following through.
  • Long tail keywords are your friends. For a start, they are much more specific and will attract people who actually want what you offer better than if you used a general, single keyword with a broader meaning. For instance, “Dental Clinic Joondalup” is a more specific keyword than “Dentist” or even “Dental Clinic”. It is much more likely to attract people who want a dentist in Joondalup, so your ad is more targeted and hence, more successful.
  • Create a separate campaign for broad, popular keywords. These can be a drain on your more specifically targeted ads if lots of people click on them quickly and use up your daily budget before the other ads get a chance to show.

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Why You Need a Corporate Lawyer for Shareholder Disputes

There are many different kinds of shareholder disputes and the best way to solve them is to consult with commercial lawyers such as Summers Legal. A lawyer will be able to see things with an impartial eye and help you negotiate through what is often a painful maze to get the best outcome for you and for the company. So what kinds of disputes can happen if you own or are a director of a company?

Here are just some: –

  • Disagreement over the direction the company is taking
  • conflict of interest if you or any other director has an interest in another business
  • Poor performance from a director or a shareholder
  • Disputes can arise if the directors or board members are paying themselves high wages instead of paying shareholders
  • Disagreements between partners for various reasons.

If you are an owner, it is wise to be prepared to handle disputes in advance so that you can get on top of them immediately rather than letting them drag on or escalate, neither of which will do the company any good.

A corporate lawyer can set up an agreement as to the steps you will take if and when a dispute between any parties happens. Having a legal agreement will ensure that the dispute is settled quickly. It may prevent the need – and cost of – going to court to settle. Mediation by a neutral party can ensure that a fix that is agreeable to both parties is found. This may be that the aggrieved party is bought out by the others at a fair price.

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Company Structure – Why You Need an Experienced Corporate Lawyer

Many people dream of of setting up their own business without really looking into it. While you may have special skills that would make a great business, you also need to know a lot about setting up and running it. In fact, you really need an experienced corporate lawyer like Lawyers Perth to help you set the company up in the first place. Why?

For a start, there are four different business models, so which one is best for your business? What you choose can have a big impact on things like insurance, tax, asset protection and even legal costs. Rather than choose a model that suits you at the moment, you have to include your future vision for the business and ensure the model you choose will still be right for it when you expand.

Your business may even take a different track that you hadn’t thought of, into the future. If the business model is inflexible, you face all the costs and hassle of changing over to one that suits your plans better. It is a wiser course of action to be guided by a property lawyer, who will ask the right questions to get you thinking about the future of your business.
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Differentiating Between Branding and Logo Design

To get the best logo design for your business it is important to know the differences between branding and logo. Some people think of them as being the same thing, when in fact, they are not. The terms cannot and should not be used to mean the same as each other. This is confusing because if you think of branding as the same as logo design you will be leaving many important elements out of the equation.

So what’s the difference?

  • Branding is about the identity of the business. It is the corporate image as perceived by the public that includes information about the vision, aims and goals of the company. As such, emotion plays a big part in branding.
  • Identity forms a part of this but consists mainly of the visual aspects from the overall brand.
  • A logo is a way of identifying that business by the use of an icon, thus logo design will have elements that reflect the important parts of the business. These elements may be text, colour, shape and even animation, but the design does not necessarily need to have every element.

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