James Solomons

Accounting, Business & Technology; Advocate, Entrepreneur & Educator

Federal Budget 2016 – Reflection

The Federal Budget has been and gone for 2016 and as we knew, it was going to be an “election” budget. Purposeful is the term I used to describe it and in my opinion its a shame that a budget will pass by for another year without there being any major benefit for anyone. So much could have been done to assist small business but alas, an extension of accelerated depreciation was all that medium businesses got. Nothing further for small businesses.

So it goes without saying that the highlight for me was being part of an expert panel on the morning after the budget to discuss what ‘could have been’. The panel included

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“Colour by Numbers” – My chat with Southern Cross University

To predict where the future of the accounting and business professions are heading, it’s important to equip yourself with the skills and knowledge to challenge current industry operations. I sat down with Southern Cross University to discuss my views and predictions, as well as give some advice to those looking to advance in their careers within the profession.

Check out what I had to say below

Chatting about the concept of “Continuous Engagement”

In August I sat down with Steve Major from Pricing Power and we chatted about a concept that has been evolving called “Continuous Engagement”.

Listen to the interview here

Acting in our clients best interests when it comes to technology… my views

At Xerocon 2016 I had an interview with Accountants Daily and we discussed whether accountants were failing to act in their clients best interests if they didn’t help them move to better technology to run their business

This is what I had to say

Technology lag may hurt clients’ best interests

Written by Katarina Taurian

Accountants typically hold the mantle of the ‘trusted adviser’ with their clients, but that position can work to the detriment of those who take it for granted and aren’t on the front foot with new services and technological opportunities, said Xero’s head of accounting and director at Aptus Accounting and Advisory, James Solomons.

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How to hire the next generation of professionals

The longevity of a business is determined by many factors, perhaps at the forefront is whether a firm is able to adapt and evolve to keep up in an ever changing technological world.

The accounting industry in particular is constantly being met with so many innovative new tools. It’s very important for advisors to keep up or risk being left behind.

In conjunction with this there is no point in having all the latest gizmos and gadgets if you don’t have the right team behind you to drive it.

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Use the new financial year to get your tax habits in order !

A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes and that can add up to 5,200 invoices a year – signaling the need for business owners to consider automation to pave way for better tax habits.

There’s no reason why the “New Year, New Me” mantra shouldn’t apply to the new financial year. There are many reasons why the now is the best time to develop better tax habits to make tax time next year a breeze.

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Tips on getting paid faster….

Earlier this month some of my expert tips on getting paid faster were featured in an article written by Cathy Anderson from Huffington Post. Cathy liked them so much she immediately implemented them in her own small business….

Here is the article !

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Using the new financial year to help your business get ahead

The new financial year is the perfect time to reset, re-evaluate and prepare for the year ahead. As a business, you would have recently closed off your books for the last financial year so most of what you need to know about your business is readily available to you. You’re in a great position to know what’s doing well and what needs to change, and sorting out your finances early will take the stress out of tax time next year.

Below are some tips to help you start the new financial year right.

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Five resolutions to kick off the new financial year

Cloud software can help you track which customer segments are spending most, influencing where your marketing focus should be as you expand in the new financial year.

The flurry of activity that is EOFY should have died down by now, making it the ideal time for small-business owners to take a retrospective look at how their business performed over the past 12 months and how they can take their business to the next level in 2016-17. Just as we set resolutions when the clock strikes midnight on 31 December, it’s a good idea to look at our goals for the new financial year to help grow profits and strengthen the business.

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