Check out the latest from the MYC Partners blog!
Welcome to our new articles area. We will be regularly sharing our accounting expertise and strategic advice to help you get ahead in your business.
Latest posts are below:
In recent years, the work landscape has dramatically shifted towards working from home, highlighting the importance of understanding working from home deductions. The rules and methods for claiming these have evolved, particularly since 2022, leading to confusion and missed opportunities. As a Central Coast accountant, I’ve observed the challenges faced by remote workers in making
Jumping into the startup world is exciting, but there’s one thing you really need to nail down from the start: Accounting. Here’s the thing: Accounting for startups isn’t just about filling out forms and ticking boxes; it’s what keeps your business on solid ground. If you overlook it or don’t get it right from the
For small business owners, the prospect of an audit by the Australian Taxation Office (ATO) can seem intimidating. Yet, it’s important to remember that these audits are a standard part of ensuring legal compliance and accuracy in your financial affairs. There’s no need for the word ‘audit’ to set off alarm bells. Managing an ATO
The annual tax refund is a highly anticipated event for most working Australians. For many, that means an exciting influx of cash in the form of their annual tax refund. However, this year, many people are scratching their heads, wondering, “Why is my tax refund so low?” It’s a common question I’ve been hearing a
As an accountant, one question I get all the time is, “When does a hobby become a business?” This is a critical distinction when it comes to your tax obligations. In this post, I’ll walk through the key factors that transform a hobby into a bonafide business in the eyes of the Australian Taxation Office
The rise of social media has given birth to a new type of celebrity: The influencer. As these digital content creators have amassed huge followings, sponsored posts and affiliate promotions have become big business. However, the unpredictable income streams of influencers pose unique accounting and tax challenges. Unlike salaried jobs with regular paychecks, earnings can
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