We all know that exercise is good for us!  Don’t worry, I’m not about to preach a new formula to you that you “just have to try”!  For me it’s about balance…

If you’ve read Who Is The Tax Chic  you’ll know I am a fitness instructor.  Part of my weekly routine includes instructing both Body Step and Body Pump classes at my local gym.

In any given week I might also include a run or two (ok a jog, I mean a shuffle…I think you get the idea), a TRX class, stair climbing when I’m in training for an event and some hiking (truth be told I’ve only been hiking once…but it gave me a good excuse to go shopping for new shoes…so I’m in!).

All of this of course, depends on what else is going on in my life at the time!  I am a master organiser who simple cannot live without my diary…(and I much rather have a full one than an empty one) so scheduling exercise is a must for me!

Having said that, if I miss a session, I try to be understanding with myself and move my focus to the rest of the week…I do this because I know I have to look after myself in a way that allows me to function in all areas of my life – so sometimes the exercise has to be forgone in order for me to attain balance…

What about you?  Is your exercise scheduled or random?  I’d love to know…

Regards

As in Tax File Number Declaration (or TFN Declaration).

A TFN Declaration is a form used to provide your Tax File Number (TFN) to your employer (or other payer as required) so they know how much tax to withhold from payments they make to you.

A separate TFN Declaration must be completed for each new employer you have, as such you should complete a new TFN Declaration when you start work for the first time or when you change jobs.

The most common question I get asked about this form relates to Item 8: Do you want to claim the tax-free threshold from this payer?

To give a definitive answer to this question, I would need to discuss your personal circumstances with you…however the fine print on the form tells us “Only claim the tax-free threshold from one payer at a time, unless your total income from all sources for the financial year will be less than the tax-free threshold”

A sample of the form can be found here (please note this is an external link).

Remember, if you need help completing these forms, you can contact our partner LMB Consulting.

Regards

No question about it, the calculator is a necessary tool in the life of an Accountant.  In fact, I’ve been known to carry one around in my handbag…please don’t tell anyone, they’ll really think I’m strange!

It probably comes as no surprise that I’m very particular about the calculator I use…and after years of trial and error, I’ve finally found “the one”.

Its a good size (not too big, not too small), so it fits my hand perfectly and I can reach all the buttons by simply moving my fingers and keeping my hand still (which allows me to add a series of numbers without even looking -this is me showing off!).  The buttons are firm enough, but don’t require a pounding to work and the screen in large enough to be a clear display – everything a good Accountant needs in a calculator.

But it’s not just Accountant’s who need good tools of trade – if you are working in an office or business environment where a calculator is required – I encourage you to find the one that works for you.  There really is nothing worse than getting frustrated because the buttons don’t press or you can’t read the display!

Now if I could just find a stapler that doesn’t keep jamming…??!!

Tell me, what’s your favourite piece of office stationery?

Regards

A lot of people think being in business is a glamorous lifestyle, easy come easy go, with benefits abound…it can be, but it’s not always, especially in the beginning!

Surviving in business takes a lot of work, blood, sweat and (sometimes) tears.  Depending on the nature of your business, you may have staff worries, stock control and cash flow to name a few of the things that keep business owners awake at night.

But that’s not to say there aren’t rewards – think of the satisfaction of building and sustaining a business that becomes successful, perhaps a household name? And yes, there are financial benefits to those who succeed.

But what does it take to succeed?  There’s no magic formula, but here are my top 5 tips for creating a successful business:

1. Do something you love – if you don’t have a passion for what you do, I can guarantee there will be someone out there who does have the passion, they will be the one to succeed!

2. Get some experience – I recommend having at least 5 years experience in your chosen field.  This way you have proven it’s something you like/love to do (see point 1. above) and you are more likely to see it through.

3. Do your research – there’s this new thing called the internet (amazing tool!) Google is your friend, but make sure you look at many sites, not just ones that tell you everything will be rosy!  And don’t be fooled into thinking “it’s a franchise…it’s a guaranteed success“, yes franchise arrangements come with structure and additional benefits, but they are not guaranteed to bring the customers through the door (they will agree with me on this one).

4. Speak to your bank – every business situation is different and requires varying degrees of banking arrangements.  The earlier you discuss your needs with your bank, the better informed both you and they will be.

5. Get a good Accountant – of course I’m going to say that…but I mean it!  A good Accountant should not only be able to do “the nuts and bolts” but should also be able to communicate with you effectively so you understand everything that’s happening in your business.

I hope you find these tips helpful, which one do you think is most useful?

Regards