medical

common concerns for medical professionals

We are your experienced medical accountants in the Newcastle region. For GP’s, specialists, physiotherapists, psychologists and other medical professionals, time spent managing your financial position could be better spent elsewhere. We know that.

We work with medical professionals every day, and find a number of common concerns.

Are you unsure whether you should be trading as a sole trader, company or trust? Are you confident your investments are held securely and minimising your tax?

You feel like you get large surprise tax bills regularly.

You don’t know what your upcoming tax liabilities are or when they are due.

Does your accountant understand how medical professionals operate?

  • How service fees are paid
  • Appropriate structures
  • Large and irregular tax payments
  • Medicare and associated payments

Administration work takes too long and is difficult.

Do you always have to give your accountant more information?

Do you feel like you had a regular contact within your accounting firm but are now passed to someone new each year?

how does a squared help?

finance-wheel-text

Many medical professionals we deal with are concerned  their trading structure and investment structure is not the most appropriate for them. 

At A Squared Advisers we often undertake an initial structure review to determine options that may be available to you to better protect your assets and minimise your tax.

You need to know your upcoming tax liabilities as they can vary so much from quarter to quarter depending on the income you earn. 

Where this is a concern A Squared Advisers prepares a tax timeline estimating all of your tax liabilities for the next 12 months and when they are due.

We also review your wage and superannuation payments on a quarterly basis to ensure they are appropriate for your circumstances.

At A Squared Advisers we deal with many GP’s, medical specialists and other professionals in the industry.

We understand the issues you face with your accountant and what can be done to make accounting easier and less time consuming. 

Technology is progressing quickly and enabling automation of many tasks that were previously manual and time consuming.

A Squared Advisers continually monitor developments in this area that relate to the medical industry that you can save you time.

Most medical professionals like to maintain a high level of privacy with their business and investment dealings.

A Squared Advisers are a small accounting firm of young accountants. Anthony and Adele personally manage a portfolio of clients ensuring you will get consistency in who you deal with.

Removing the stress of complex accounting and taxation obligations creates freedom for you to focus on your career. We work closely with medical professionals, providing the most relevant advice and up-to-date strategies to ensure you are in the best financial position. Our team will help you prepare cash flow budgets, tax documentation and make sure your assets are structured appropriately.

To maximise the value of our services, we work with the Xero cloud-based accounting

system. This allows us access to your financial information quickly and easily, so we can take a collaborative approach.

A key part of our success has always been our ability to communicate with our clients. The more we understand about you and your financial position, the easier it is for us to deliver results. We don’t bill for phone calls and you don’t need to worry about unexpected costs.

Want to ease the pressure of taxation, accounting and record keeping in your medical profession? Call 02 4959 3882 to find out how we can help.

Are you interested in how A Squared Advisers works with GPs and Medical Professionals. Sign up to our mailing list and stay in touch with important changes relating to you (don’t worry you can unsubscribe easily at any time).

pricing

Pricing at A Squared Advisers Pty Ltd is transparent. Our fees our quoted and agreed up front prior to commencing working with you. An indication of our pricing and inclusions are shown below:

GP or Specialists

(operating as a sole trader, company or trust)
From $ 242 (including GST) per month
  • Preparation and lodgement of financial statements and income tax return for business entity
  • Provision of Xero Accounting Software
  • Xero telephone and internet support
  • Unlimited general taxation and accounting questions (excluding strategic and structuring advice)
  • Regular review of projected tax position
  • Preparation of annual ASIC forms (where relevant)
  • Preparation of quarterly Business Activity Statements
  • Preparation of monthly Instalment Activity Statements
  • Preparation of Fringe Benefits Tax Return
  • Bookkeeping

Medical Practice

(operating as a sole trader, company or trust)
From $ 660 (including GST) per month
  • Preparation and lodgement of financial statements and income tax return for business entity
  • Provision of Xero Accounting Software
  • Xero telephone and internet support
  • Unlimited general taxation and accounting questions (excluding strategic and structuring advice)
  • Preparation of quarterly management reports
  • Quarterly one hour review
  • Preparation of annual ASIC forms (where relevant)
  • Preparation of quarterly Business Activity Statements
  • Preparation of monthly Instalment Activity Statements
  • Preparation of Fringe Benefits Tax Return
  • Bookkeeping
  • Preparation of monthly payroll tax return

How to switch to A squared

You can become a client of A Squared Advisers in 3 easy steps:

Step 1

Needs analysis meeting

meet with Adele or Anthony to discuss the business issues you are currently facing and other specific needs from an accountant.

This is also your chance to find out more about A Squared Advisers, clarify anything you are unsure of and make sure A Squared Advisers is a good fit for you.

Step 1
Step 2

Proposal

we will develop a tailored business proposal for you, addressing the business needs most identified.

This will be a fixed monthly fee based on the pricing outlined above.

Step 2
Step 3

Working together

Once the proposal is agreed to, with your permission we will

  • Contact your existing accountant to forward any records they hold on your behalf
  • Advise the Australian Taxation Office that A Squared Advisers will be your nominated taxation representative.
  • Advise the Australian Securities and Investments Commission (ASIC) that we will be your nominated agent for company matters
  • Contact you to arrange a time to migrate to Xero (if you are not already using Xero).
Step 3

Would you like to find out more or arrange a free no obligation meeting to discuss your circumstances? 

For expert accounting advice for doctors, physiotherapists, speech pathologists, psychologists and medical practitioners in newcastle call 02 4959 3882 or contact us below.

Medical