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Are small business losses tax deductible?

It's common for small businesses, any business for that matter, to run at a loss in the first few years of operation as the business is established, staff are trained up, customers are found, etc. The question is, can you claim a tax deduction for these losses at some stage, or are they lost forever?

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What are the risks with becoming a company director?

If you're anything like the general population you sign the documents required to start your company without much thought as to what you're actually signing. Directors of small and medium-sized companies tend to underappreciate the responsibilities that come with being a company director, much more so than directors of larger companies.

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How to setup business in the US (United States)

Following on from the strong interest we had in our post on how to setup shop in China, we thought we'd tackle another popular destination for clients looking to grow their businesses - the United States.

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Everything you need to know about operating as a sole trader

Last month a colleague and I were lucky enough to travel around Australia speaking with groups of photographers about starting up new small businesses operating as sole traders and given the amount of interest in the topic we thought it worthwhile to discuss it here on the blog.

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How to setup business in China

Recently, I asked by one of my clients to reflect on the past 3 years of doing business in China. “I don’t mean to scare you away or stress you!” was his response. When we first met, he was positive, full of energy and drawing up his blueprint on how he would like to do this and that in China. So, what happened in those three years?

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When should you move from sole trader to a company

When speaking with small business owners one of the common questions that comes up is "when should I move from being a sole trader to a company?" It can be a tricky area and as it comes up so often we thought we'd write this piece to explain what you need to consider when moving from being a sole trader to a company.

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Business structures part 4 - The trust

In this post we'll be exploring discretionary trusts in part four of our series on business structures. We've also put up brief guides to running your business as a sole trader, via a partnership and through a company.

What is a trust*?

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Business structures part 3 - The company

What is a company? A company is a legal entity distinct from those who may own or run it. It has it's affairs managed by directors (aka officeholders) and is owned by shareholders (aka members). A shareholder's liability is generally limited to any amounts that may be unpaid for their shares. Without considering misconduct, a director's liability will generally be limited to any unpaid employee entitlements (e.g. superannuation and PAYG withholding) there may be.

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Business structures part 2 - The partnership

Not simply the domain of hotshot lawyers, a partnership is a simple and effective tax structure to operate a business with one or more other people.

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Business structures part 1 - The sole trader

It is important to carefully consider your options when selecting which structure to use for your business operations. The following guide is intended to get you thinking about the relevant issues and are by no means exhaustive. This first instalment is about the humble sole trader option.

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