http://www.taxowl.co.nz/blog/ The latest Blog feeds from www.taxowl.co.nz en-us Tue, 14 Jul 2026 17:53:05 +1200 Rocketspark http://www.taxowl.co.nz/blog/post/167202/diy-accounting-vs-hiring-an-accountant-make-the-right-choice-for-your-business/ When you’re starting out as a small business owner, the temptation is to go DIY with your accounting. Hiring a professional accountant or tax adviser costs money and that’s an overhead that you can remove by doing all the financial management yourself, right?But is DIY accounting the most sensible option for your business? And why might partnering with an experienced accountant be a valuable investment in your future?... Mon, 06 Jul 2026 15:44:02 +1200 http://www.taxowl.co.nz/blog/#post167202 http://www.taxowl.co.nz/blog/post/167208/why-your-accountant-is-the-mentor-you-didnt-know-you-needed/ A business mentor can provide guidance and support, so you make the right decisions and stay focused on the end goal as a business owner. They can also help you move forward in your career by providing advice and feedback on what steps to take to reach the pinnacle of success. But have you ever thought of your accountant as a mentor?... Wed, 24 Jun 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post167208 http://www.taxowl.co.nz/blog/post/167207/what-are-fringe-benefits-and-what-are-the-tax-implications/ A key part of attracting new talent to your business is offering a good benefits package. Not all benefits are financial. As part of your package, you may choose to offer what’s known as ‘fringe benefits’ to your employees.But what are fringe benefits and what are the potential implications of offering them?... Wed, 17 Jun 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post167207 http://www.taxowl.co.nz/blog/post/167205/is-your-side-hustle-a-viable-business/ Starting your own ‘side hustle’ can be an exciting project and a great way to see if your new business idea has legs in the current market.But could your side hustle actually turn a profit? And is there a demand for the product or service you're offering?... Wed, 03 Jun 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post167205 http://www.taxowl.co.nz/blog/post/167204/how-can-we-support-your-business-profitability/ Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping an eye on the money that’s going out of the business, as well as what’s coming in. So, how can your accountant help with this?The days where your accountant just did the bookkeeping, compiled your accounts and filed your tax return are well and truly over. Modern accounting firms are far more interested in helping you with your financial performance, your ... Wed, 20 May 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post167204 http://www.taxowl.co.nz/blog/post/164427/understanding-your-balance-sheet/ To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of the financial position and business performance.So what’s involved: The balance sheet has three sections: assets, liabilities and equity.... Sun, 10 May 2026 14:53:46 +1200 http://www.taxowl.co.nz/blog/#post164427 http://www.taxowl.co.nz/blog/post/164124/review-your-business-expenses-and-save/ Running a business costs money. There are always costs, overheads and supplier bills that mount up – and these expenses will gradually chip away at your cash position, making it more difficult to grow and make a profit.So, what can you do to reduce your spend levels? And what impact will this have on your overall margins, profits and ability to fund the next stage in your business journey?... Mon, 04 May 2026 03:26:23 +1200 http://www.taxowl.co.nz/blog/#post164124 http://www.taxowl.co.nz/blog/post/163732/what-are-cash-reserves-and-why-does-your-small-business-need-them/ ... Sat, 25 Apr 2026 08:28:21 +1200 http://www.taxowl.co.nz/blog/#post163732 http://www.taxowl.co.nz/blog/post/163733/overcoming-the-impact-of-a-rise-in-the-minimum-wage/ Back in December 2025, Workplace Relations and Safety Minister, Brooke van Velden, announced a planned rise in the adult minimum wage.This rise has now taken place, with the adult minimum wage now set at $23.95 per hour, as of 1 April 2026. This is an increase of 45 cents per hour from the previous hourly rate of $23.50.In addition, the training and starting-out minimum wages have also increased to $19.16 per hour, remaining at 80% of the adult minimum wage.... Wed, 15 Apr 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post163733 http://www.taxowl.co.nz/blog/post/163297/5-ways-logistics-companies-can-cope-with-rising-fuel-prices/ If you’re running a logistics company, small delivery business, or a company fleet of trucks, the rising costs of fuel will no doubt be a major concern.Prices of oil have been rising since the conflict in the Middle East escalated in February 2026, with the current price of crude oil reaching record levels. With fuel prices still rising, you’ll see your profit margins slide as the cost of running your vehicles becomes ever-more expensive.Fuel prices are not something you can directly influen... Thu, 09 Apr 2026 00:00:00 +1200 http://www.taxowl.co.nz/blog/#post163297