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Tax Time gets a woman’s touch with Officeworks’ Small Business Expert Linda Hailey

 

Tax time can be a daunting time of year, especially for those who have families to run as well as their own business.

 

However according to Officeworks Small Business Expert, Linda Hailey, June 30 is the perfect time for mumpreneurs to revitalise their business.

 

Linda is a well-known small business consultant and regular guest on Kochie’s Business Builders. As a mumpreneur herself, Linda understands that tax time can sometimes seem like another task to squeeze into a busy week.

 

“The end of financial year should be about more than a trip to the accountant and filing a tax return. It’s the ideal time for small business owners to update their business with fresh ideas,” Linda said.

 

Linda offers her top tips to help mumpreneurs thrive rather than just survive:

 

  • Tax time can be a real wakeup call if you haven’t been playing close attention to the numbers.  Now is the time to bite the bullet, review your financial performance and see how close you came to your goals.

 

  • Most mumpreneurs are lucky to sell a product or service they are passionate about, but you need to be careful not to let love cloud your good judgment.  Check the performance of all your products and retire or repackage poor performers.

 

  • There are lots of things women do better in business, but for most of us talking price isn’t one of them! Make it your new financial year resolution to talk price early, promote price everywhere and make sure you aren’t undercharging or accidently positioning yourself at the bottom of the market.

 

  • You may be a busy, multi-tasking mum but you deserve your own office space. In this day and age you can create a home office anywhere around the house and fill it with stylish accessories and office gadgets that make you smile.

 

  • Isolation can be a big issue for mumpreneurs. Next financial year consider forming your own business support group with five or six fellow mumpreneurs to review business ideas and track goals, and meet at a venue or online via Skype. The extra support may be just what you need to boost your business in 2012 and beyond.

 

By implementing these simple tips, mumpreneurs can renew their small business this tax time.

 

Visit the Officeworks Tax Hub at www.officeworks.com.au for more information about what you can claim at tax time.

  • Tax time sure can be confusing. I used to do them online, now we just go to a tax agent, it’s a lot easier for them

    Reply

  • having a desk and the right amount of space will help you to be organised. Labelling things and keeping those important docs and receipts for tax time will be easy if you are organised

    Reply

  • I’m not a mumpreneur so not really relevant to me. Lots of good info for those who need it

    Reply

  • Unless you have a really big office you need extra storage space to store files including invoices, credits, copies of orders, statements etc. If using a computer have at least one back-up (put one disc in fireproof safe/s). “Save” every few minutes in case your computer crashes, you lose your electricity etc. You don’t want to have to do a lot of work twice because you didn’t save it. You need to make sure your accounts balance on a regular basis. If you make a mistake, it can take a lot longer if you have to go back too far. Sales and pricing are other perspective of a business but I have no understanding of them at all.

    Reply

  • When it comes to tax time, I’m sure most people would agree we need all the help we can get, it’s quite confusing to get it all straight

    Reply

  • Great! Really very good knowledge to know! Thanks for sharing this article!

    Reply

  • Yes that time is coming…….great tips.

    Reply

  • this is exellent great

    Reply

  • Great advice and tips, which reminds me must do that tax 2014 :0

    Reply

  • As always great advice and a good reminder for all of us. Thank you.

    Reply

  • Great tax time tips.

    Reply

  • there is so much you can claim on your tax when you operate your own business

    Reply

  • I never look forward to tax time

    Reply

  • thank you sharing this article good read

    Reply

  • Good tips for tax time.

    Reply

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