In this episode of the Inner Sanctum, we talked about the T word! That's right, lovers. It was Tax and Relationships with your accountant and chat with Paris from Group One Accounting. You will often hear the team singing the praises of Paris. Not only is she an exceptional human, she's also an incredible Accountant! This chat covered Paris's journey into accounting. Some background into Samara and Paris' journey together. Then, we went deep into tax and all its variations. If you don't know your GST from your BAS or PAYG, this is the episode for you. We talk about sole traders transitioning to company status and the importance of financial discipline. And, of course, why is having a great relationship with your accountant so important?

00:00 Episode Summary

02:56 Introducing Our Special Guest: Paris from Group 1 Accounting

03:22 The Journey with Paris: Transforming Business Finances

04:13 Navigating Financial Challenges and Trusting the Process

05:48 The Importance of a Good Relationship with Your Accountant

08:53 Personal Stories and Emotional Support

15:29 Protecting Your Business and Personal Finances

20:14 Simplifying Tax Concepts for Business Owners

29:56 Understanding Superannuation

30:34 Breaking Down BAS Payments

32:49 Navigating PAYG Instalments

34:49 The Importance of Accurate Financial Planning

40:13 Director's Loans Explained

43:34 Transitioning from Sole Trader to Company

48:45 Effective Budgeting and Cash Flow Management

58:11 Final Thoughts and Advice

https://www.salonrising.com/

Find out more and watch out for updates on socials @ -

https://www.instagram.com/salonrising_/

We also have a very special offer for all Salon Rising listeners! If you'd love to join the Kevin Murphy family for the first time, or if you are a Kevin Murphy OG, click the link below and jump on these amazing offers.

https://ozdare.com/salonrising

And a huge thank you to our podcast sponsors:

https://ozdare.com/

https://kevinmurphy.com.au/au/en/km/