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Pat Mannix

Small Businesses Can Get Into Trouble

Imagine you have put all of your life savings into buying a business. You spend years dedicating your heart and soul towards it. You listen to financial advice and take every measure to do the right things. Still your business is failing. The figures are wrong. It’s heart wrenching. Our advice? Let it go. ASAP.

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Small Businesses Can Get Into Trouble

Your Income is Your Number One Asset

When starting out in small business, you have to take 100 per cent responsibility for the income you’re going to generate. That means you need a defensive strategy in place for your income.

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Your Income is Your Number One Asset

Two Directors is Wrong, Wrong, Wrong

I will give you a second strategy for asset protection in business. This one is really simple.

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Two Directors is Wrong, Wrong, Wrong

The Fall Guy

We want nothing of any value in the fall guy’s name. Absolutely nothing! It’s not a perfect world. Bad things sometimes happen to good people. So if a business falls over the fall guy can go with it but hard earned assets built along the journey MUST be fully protected.

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The Fall Guy
( Posted in: Tax )

It's All Your Fault - Part 2

I LOST ALL OF MY LIFE SAVINGS. The truth: it was all my fault and I had to take full responsibility because it was small business.

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It's All Your Fault - Part 2

What Will The ATO Audit This Year?

It can often be difficult to know where exactly the tax office are going to be focusing their audits. As it is the start of a new financial year, I thought I would provide some insight into where the ATO will be pointing their guns in 2018/19.

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What Will The ATO Audit This Year?
( Posted in: Tax )

Company Disaster

We are talking today about business structures and in particular the disaster that is companies when running a small business. We need to go back in history and look at the year 1999, the Federal Government of that year changed the rules on small business. 

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Company Disaster

Tax Planning Tips - 2018

Here are our top five tax planning tips for 2018. It’s early June now, and a perfect time to go over these tips.

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Tax Planning Tips - 2018
( Posted in: Tax )