Show Notes
Welcome back to The Account Rant.
In this episode, Catarina Santini and Michael Saade unpack one of the biggest issues they see with small business owners, pricing too cheap.
A lot of businesses start by looking at the market and trying to be the cheapest option just to win clients. The problem is, if your pricing does not cover your overheads, wages, contractors, materials and profit, you are not building a business, you are funding one.
Cat and Michael break down how business owners should think about pricing, why you need to work backwards from your costs, and why being busy does not mean you are making money.
They also discuss why prices should be reviewed consistently, why inflation and rising costs matter, why some businesses should charge call out fees or quoting fees, and why tradies in particular need to protect their cash flow with deposits and stage payments.
This episode is for business owners, tradies, service providers and anyone who is winning work but wondering why there is still no money left at the end.
Need an accountant?
GET A FREE CONSULTATION FOR ALL ABN HOLDERS https://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzw
OUR SERVICES https://latitudeaccountants.com.au/accounting-services/
For business enquiries [email protected]
Follow Latitude Accountants
TikTok https://www.tiktok.com/@latitudeaccountants
Instagram https://www.instagram.com/latitudeaccountants/
YouTube https://www.youtube.com/@LatitudeAccountants
LinkedIn https://www.linkedin.com/company/latitude-accountants/
Facebook https://www.facebook.com/latitudeaccountants/
Website https://latitudeaccountants.com.au/
Listen on Spotify https://open.spotify.com/show/5xQDzVcvQ1NiUP82VaMst2
Listen on Apple Podcasts https://podcasts.apple.com/au/podcast/the-lat-chat/id1852174185
Subscribe to The Account Rant for honest conversations on business, tax and money.
Disclaimer: This video is for educational and entertainment purposes only and does not constitute formal accounting, financial, legal, tax or business advice. Views expressed are personal opinions and should not be taken as professional advice.
More from The Lat Chat
Every Australian capital city has just fallen at the same time for the first time in 15 years, and some of the latest housing data is getting ugly.
ASIC MoneySmart has plenty of advice on how Australians should budget, save and manage their money. But how realistic is it when you actually try to follow it?
In this episode of The Account Rant, John Saade sits down with Bethany Parker, a national bench press champion, two time world powerlifting champion and John’s own powerlifting coach, to break down some of the most controversial techniques and rules in the sport.
Running your business through a company can be a great structure, but using that company incorrectly can create tax problems you never expected.In this video, Jacob Fahmy breaks down five of the biggest tax mistakes he sees company owners make, including treating company money like personal money, paying super late, buying vehicles through the company without considering FBT, ignoring ATO lodgements and leaving tax planning until after the financial year has ended.Jacob explains how Division 7A can apply when company money is taken personally, why unpaid super can create additional costs and director consequences, and why putting a car through the company does not automatically make it a good tax strategy.He also explains why lodging your BAS on time matters even when the company cannot immediately pay the debt, and why proper tax planning needs to happen before 30 June while there are still decisions available to you.The key takeaway is simple: having a company does not automatically mean you have a good tax structure. You still need to understand how money comes out of the company, when your obligations are due and the tax consequences of the decisions you make.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, tax, accounting, legal, property or business advice. Speak with a qualified adviser about your own circumstances.#CompanyTax #Division7A #FBT #ATO #BusinessTax #TaxTips #Accountant #LatitudeAccountantsChapters00:00 5 Company Tax Mistakes00:42 Mistake 1: Treating Company Money as Your Own03:02 Mistake 2: Paying Super Late04:52 Mistake 3: Putting Your Car in the Company07:12 Mistake 4: Ignoring ATO Lodgements09:00 Mistake 5: Not Tax Planning10:49 How to Avoid These Tax Problems11:38 What’s Coming Next
Sydney’s property downturn is showing more signs of stress, with auction clearance rates falling sharply, sellers discounting, borrowing capacity tightening and unemployment moving higher.