BDO Know How, January 2016

BDO Know How is our bi-monthly business newsletter providing updates on key business and tax issues which you need to know to best optimise your business.

We explore:

• Your 2016 Financial New Year Resolutions
  Making a promise to do an act of self-improvement, beginning from New Year’s Day is a tradition that has origins dating as far back as ancient Roman times. In the 21st century it is estimated as many as 40% of adults form a New Year’s resolution. The most popular resolutions centre on improvement to: physical, mental, and financial well-being....
   
• Time saving tips
  If your business is using Xero, be sure to check out our top five time saving tips below to find out how you can streamline your accounting process...
   
• How to spot the seeds of business failure
  I’ve had my business for four years. Revenue grew steadily for the first few years but has fallen more or less flat for the past year or so. There’s minimal profit and I’ve borrowed a scary amount of money. It’s heart-breaking to think of throwing in the towel after everything I’ve invested. When do you know it’s time to walk away?...
   
• Do you know how much your card transaction is costing?
  Did you know that retailers are charged fees to accept payment on credit cards and Mastercard and Visa “debit cards”. These interchange fees are applied every time you use one of these cards and New Zealanders are paying much more than retailers overseas...