95 – Why Tax Refunds are Bad for Business
September 01, 2022
Getting a tax refund is good, right? Everyone loves a tax refund!
But, if this tax refund is for your business, then it may be a sign of trouble! It’s time for a closer look at what is happening in your business.
Find out why tax refunds are bad for business in this episode with Paul Sweeney, from Pretium Solutions.
Hint: it’s all about the cash flow!
Luckily, there are things you can do to improve your business and avoid any future anxiety at tax time. It’s important to find out what is really going on in your business and get to the heart of any issues before they grow.
Here are some of the key things you need to do:
- Have a good understanding of your financial figures and keep them up-to-date and accurate
- Talk to your accountant regularly (not just at tax time!) and get their advice – make sure you understand how taxation works with your business and how it fits with your financial figures
Paul Sweeney Chartered Accountant & Business Advisor, launched Pretium Solutions after a long and successful career in accounting and business advisory. Paul credits his passion for small business with growing up in country NSW, where family-run businesses were the cornerstone of everyday life.
For Paul, the driving force behind The Business Behind Your Business was to make high end, proactive, directed and value-based advisory services available to small to medium businesses.
Paul brings to the table decades of experience as a highly qualified accountant and business advisor at every level of business. Through consulting, coaching and on-the-ground training and operations, his focus is on unlocking the untapped potential for greater profitability. Paul’s qualifications allow him to pair strategic advice with an advanced understanding of taxation and compliance matters.
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