easyFBT Blog

Consider the following scenario:

Tax time rolls around, and you find yourself wrestling with endless spreadsheets. Those spreadsheets provide all the information you need to reconcile your FBT.

You start the year with good intentions, and your record keeping makes the first few months easy, however pretty soon you find yourself cursing those same spreadsheets.

When you finally finish you make a pledge that you will never again rely on spreadsheets and as soon as is practical, you’ll be installing new FBT software to relive the high levels of stress you find yourself in each tax year.
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There are many reasons someone starts a small business:

Become the captain of your ship

Working 9 to 5 for the man can become tiresome, watching someone else’s company go from strength to strength and know that you are the reason for its success can do one of two things. It can deflate you, or it can create an awakening, a realisation that you have the skills to be successful, and that success can be something you own.

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On Monday we looked at our two entry level products and the first level of our professional package.

Offering multiple options, that are interchangeable depending on your needs is something many other software providers can’t offer.
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With tax time on the horizon the time to make a change when it comes to FBT software is fast approaching.

We spoke last week about why you should make the change to easyFBT, this week in a two part blog we’ll re-cap exactly what we offer when it comes to products.

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Tax time is slowly approaching, and if you’re in charge of the finances of any business big or small, your life is about to become far more complicated than you’d like.

One of the most complicated areas of tax for many organisations is FBT, when is it allowed? What can you claim? And then how do you best keep records.

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Ever wanted what catches the attention of the ATO when it comes to FBT? Here's the answer straight from then source...

https://www.ato.gov.au/business/privately-owned-and-wealthy-groups/what-you-should-know/transparency/what-attracts-our-attention/?anchor=Fringebenefitstax#Fringebenefitstax

It’s the responsibility of any small business to keep up to date with advances in their industry.

Without doing this, you run the risk of ending up like Blockbuster, or Kodak. Ignoring technology and changes in the way your industry operates leaves you at the risk of becoming obsolete.

This is even more important for a software business, no industry changes faster or more often than IT.
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We all have to pay road tolls, but how do that fit into your FBT reporting?
https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/In-detail/FBT-and-road-tolls/

Let’s start this week's blog by asking a question. It’s a simple question that has many different legitimate answers.

Why do most people start their own business?

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Let’s be honest people love to complain and talk about the things they dislike.

In fact, people are often more passionate about the things they hate than the things they love.

Case in point is the dating app hater. People are matched on the things they both have a mutual hatred of.

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