Tax Season: Prepare Your Business

Prepare Your Tradie Business For Tax Season

Tax neon light sign

Really Tax time again!!

I want to flip this attitude on its head.

I get it, tax and record keeping are a business’s legal obligation – so it’s a must, but we don’t often acknowledge the benefits.

You all love buying new vehicles and tools for your business – well, news flash – your bookkeeping, accounts, tax, and the management of these are other business tools you need to be successful and reach your goals.

Tips to Prepare For Tax Season

  1. Ensure your Tax Agent and your bookkeeper (BAS Agent, if they are a contractor and not employed) are registered.  This ensures industry standards are met.  Search here: This also goes for any financial advisor. Search here:

  2. Clean up your accounting software – no more excuses – the benefits are enormous.  Not only more accurate and meaningful reporting, it saves you money.  It costs more to investigate a problem than to do it right today…’s the same with your work, right?!!

  3. Get up to date – invoicing, billing, bank reconciliations..the more often we do this, the faster. The more efficient we become, you can get on with driving your business or, better yet, some time for you.

  4. Tax planning – doing tax does not only need to be about lodging what’s already happened; it’s the best opportunity to look forward and make plans that align with your goals.  How many people are surprised when they get a tax bill?  Hey, if you are paying tax, you must be making $$$.

Share your tips with the UpScale Mighty community – we would love to hear them.

UpScale is here for you. Work with your coach in meetings to identify what changes can be made.

NB: no AI was used in this article.