(But we can make it more of an annoyed mutter or not necessary)
Fear, trepidation, lack of information or even worse to much information from friends, colleagues, the bar staff at your local can all contribute to making you want to give up till next year. The only problem with that is its twice as bad then.
All of the above are possible feeling’s and the confusion that go through many peoples minds when it comes to doing tax in general no matter what your job is.
It could be you have never done tax before, you left a mainstream job where tax was taken out to now being self-employed. (Now you have to do the calculations, put aside tax, gst and take into account your help debt if you have one) You may also have superannuation and workcover depending on how you are setup or even what part of Australia you are in.
The above goes for anyone no matter what the business is, add to this the fact you are in the adult industry can also create an additional element. Some people can be prudish about adult work or outright hostile and your sexuality or how you identify may also get similar reactions. This makes it very difficult to get started whether these issues are real or expected. I will say this is not always the case as there are many decent people out there but as I’m sure most people have experienced or seen these narrow-minded reactions happen.
Because of all of these things you may never get the information you need so you are not claiming what you can, your business is losing money due to poor management, your record keeping is not good enough to stand up to scrutiny if required or you simply can’t tell by the time you want to do your tax what any of those amounts on your debit card are!
Thankfully there is help available either through Adult Services Accounting, Tafe, small business course’s or you could go to UNI and get a degree in business management and tax accounting. The latter is probably overkill unless you are already studying it.
All or the above are potentials but if you want to learn specifically about what to do for your job and small business then I can help. I offer a business consultation which can be done in person, skype, zoom and phone. Within it we cover what you can and can’t claim, how to keep your records, how to deal with GST, income tax, and how to be ready for tax time so it doesn’t make you scream and doesn’t cost the earth to get it processed since you have your information already sorted out.
I also give you the opportunity to ask specific questions you want answered and if I’m not already covering it we will. I also have specific answers to specific questions I have been asked before that I doubt many tax agents would know the answer too. I have confirmed some very interesting questions with the ATO and have receipts for the answers if they ever argue. I will also let you know I start all conversations with the ATO with how do you feel about sex workers? If I get a negative, I ask for another operator but I am pleased to say a lot of the response’s I get say “finally an interesting call, how can I help?”
In short this consultation will make you more confident with what to do, how to do it and what you need to do so tax time is far less painful. When you do this I also offer ongoing support over the year if you have to ask questions or need a quick reminder of what was discussed or how to use the records document we work through so you can use it for years to come. This isn’t for everyone since
lots of you are already across what to do but if you are unsure then please call to discuss and we can see if it would benefit you.