http://www.taxowl.co.nz/blog/ The latest Blog feeds from www.taxowl.co.nz en-us Sat, 30 May 2026 15:54:25 +1200 Rocketspark 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 http://www.taxowl.co.nz/blog/post/163313/setting-goals-for-you-and-your-business-for-the-new-financial-year/ The new financial year is a new beginning. As a business owner this a great time for you to reflect on where you are at and think about your business goals for the financial year ahead.Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a plan to achieve some more mundane (but equally important) projects. Whether that is getting paid faster, reassessing expenses or bigger things like automation of processes and new markets. You ... Wed, 01 Apr 2026 00:00:00 +1300 http://www.taxowl.co.nz/blog/#post163313 http://www.taxowl.co.nz/blog/post/162515/getting-late-payments-under-control/ Many NZ small businesses are finding late payment to be a major issue.A recent survey from payment provider, GoCardless, found that 62% of New Zealand businesses believe they’re losing money to late payments – some even reporting estimated losses of over $10,000 per month, on average.Let’s look at what late payment means for your cashflow and working capital, and what steps you can take to improve payment times and your overall cash position.Why is late payment such a problem?Your financia... Wed, 25 Mar 2026 00:00:00 +1300 http://www.taxowl.co.nz/blog/#post162515 http://www.taxowl.co.nz/blog/post/162514/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.... Wed, 18 Mar 2026 00:00:00 +1300 http://www.taxowl.co.nz/blog/#post162514 http://www.taxowl.co.nz/blog/post/162513/what-are-trade-tariffs-and-how-can-they-affect-your-business/ Over the past few months, we’ve heard a lot in the news about the possibility of trade tariffs, especially in relation to the tariffs imposed by the current US administration. But what exactly is a trade tariff? What do they do? And how could high trade tariffs affect your ability to export to certain countries and territories?... Thu, 12 Mar 2026 00:00:00 +1300 http://www.taxowl.co.nz/blog/#post162513 http://www.taxowl.co.nz/blog/post/162510/5-benefits-of-working-with-a-business-adviser/ You know that an accountant can look after the books and keep your numbers in good order. But have you ever thought about the additional services and advice that an accountant can bring to you as a fully fledged business adviser, coach and mentor?Let’s explore what other business-critical services your adviser could offer:... Thu, 05 Mar 2026 00:00:00 +1300 http://www.taxowl.co.nz/blog/#post162510