20 Years On

On 19 December this year I will have operated from my current location   for exactly 20 years.

At the time I was looking at setting up my practice the choices were either Naenae or Stokes Valley, I guess my loyalties lay within the Valley, at the time the building had recently been vacated by a video hire business the interior resembled The dark hole of Calcutta with the interior being painted black and what was left of the floor coverings were meant to be green and black thread bear tiles, after a few weeks of contractors, carpet layers etc., we were ready to join the business community, in those days somewhat isolated as we were surrounded by a group of derelict shops which is now the car park next to my building.

I always remember leaving my office early one day when a local identity came up to me and reminded me that there was only a small number of businesses that remained open and if you lasted for five years then the business must be successful, thanks to the support of the community I'm still here, over the years some clients have moved away from the valley, with the use of modern technology they still remain loyal clients.

Technology has always been the first consideration I was electronically filing tax returns soon after Inland Revenue started, Computers and accounting/tax software has been a major part of my budget rather than labour costs.

We are very much a cloud based paperless practice using Xero and other great systems.

One of the major compliance issues at present Is Trust Administration

I'm currently evaluating  some Trust Administration software that is cloud based, this will be the final piece of software that will replace my current trust program that is not  cloud based, the new program is unique in that it provides a real-time connection between me and the Trust's other professional advisors, all the information to do with the Trust, and importantly the mum and dad non-professional trustees.

To be continued in the next issue

INPORTANT CHANGE BY INLAND REVEUE

Posted cheques must be received on time
From 1 October 2014, cheque payments and returns posted to Inland Revenue must arrive on or before the due date to avoid late payment penalties and interest.

By Dennis O’Grady

HAVE WE GOT YOU THINKING?

Give us a call on (04) 563 6965 or email: dennis@taxman.co.nz or shawn@taxman.co.nz