New Seminar Opportunity for Bishop Toomey & Pfefier Clients

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Scott Wilson from Digital Influence is running a seminar on the Thursay 3rd July called…

Leads Unleashed – How To High Generate Quality Leads On Demand Using Facebook & LinkedIn“.

It’s free to attend and you can book tickets here – http://bit.ly/LeadsUnleashed

Here’s an overview of what you will discover at this seminar:

1. Your Marketing Goals – The no.1 question every business owner should be asking themselves today if they want to make bigger profits tomorrow.

2. Manual Marketing Sucks… why you need to move your sales and marketing from manual, slow and messy to automated, leveraged and funancial.

3. Facebook Sales Funnel – How to target qualified leads and turn them in committed buyers.

4. The Facebook Strip… 3 clear reasons why it is good business to keep your ad campaigns inside the Facebook eco-system.

5. The LinkedIn Myth… why most business owners don’t get LinkedIn and never will unless they understand these 3 essential business dynamics.

6. LinkedIn The Business Platform – 3 steps to using the biggest business lead generation platform in the world.

Book tickets here – http://bit.ly/LeadsUnleashed

You are welcome to bring a business partner.

All Scott asks is, if you book you must turn up because this seminar will fill up fast and some people will miss out.

Leads Unleashed – How To Generate Highly Qualified Leads On Demand Using Facebook Advertising & Linkedin

Say goodbye to expensive phone calls

Say goodbye to expensive calls
Say goodbye to expensive calls

Would you like free toll calls within New Zealand and cut rates when you call a cellphone or make an overseas call? Go to www.callzero.co.nz

The person who put us on to this told us his mother lives in England. He calls her twice a week using the internet. Instead of spending more than $10 per call the cost is now down to a little over $2. Can you use it for business as well? Yes, but get in touch with Callzero if you try to use it for a call centre. There are some limits on high use.

Is it a hassle to use Callzero? All you have to do is put it in your website favourites, log in and insert your number and the number you are calling. It takes a little longer than just picking up the phone and dialling the number.

We’ve also found when we want to top up our Callzero prepayment, it pays to use an ISP other than Explorer. We use Google Chrome.

Is this all too good to be true? Well it really is true – try it.

Under-promise, over-deliver for good referrals

Happy customers refer you new business.
Happy customers refer you new business.

It should be obvious to anyone in business, not keeping your word does nothing to enhance your image.

It’s often hard to tell a customer, very politely of course, “You’ll have to wait”. You might be a very small building company and know you won’t have a gap in your work for six months.

If this is the situation, tell the customer you can start in seven months, turn up after 6½ and you’ll be praised. Say you’ll be along in three months (to keep the customer happy) and they’ll hate you for taking six.

Never promise more than you can achieve. It’s better to lose jobs than to upset customers, because happy customers are the very people who are going to recommend you for your next job. You’ll get payback when the economy goes bad again, as it inevitably will one day.

You’ll get referrals when others won’t.

Take care with bank discussions

Discussions with your bank getting it right to avoid any misunderstandings.
Discussions with your bank getting it right to avoid any misunderstandings.

Anything you say to a bank can be written down and used in evidence against you. Not by the bank so much as the Tax Department.

It is not confidential from the IRD. Always imagine an officer of the department is listening to your every word.

You have no control over the notes your bank manager makes of your meeting. Just in case he/she makes a mistake and writes a note of something he/she imagines was said, make a detailed diary note yourself immediately following the meeting.

For example, if you were to buy a property for renting and were to tell the bank there is a good capital gain to be made, this could be interpreted by the IRD as being a purchase made to get a capital gain. Consequence: taxable income.

If you have the intention to make a profit and a reasonable prospect of success, the eventual gain on any transaction you are engaged in is probably taxable. So, if you buy a rental property but have in mind selling it for a profit some time in the future, the profit on sale is taxable. On the other hand, if you buy the same rental property as a long-term investment to provide income in future years, you are not taxed on the profit you make on the eventual sale.

We all know property prices rise over time. So the person who buys to rent is aware there’s likely to be a capital gain on sale of the property. The issue is you must buy for the income, not the capital gain.

The same applies to the sharemarket. Buy shares like Xero for fat dividends once they make profits and your sale of Xero shares for a gain is not taxable. Buy Genesis shares and sell them soon after issue “to take a profit” as sharebrokers say, and the gain is probably

 

Get business loan arrangements right

Make sure you buy a car in the right name to ensure you maximise your tax position.
Make sure you buy a car in the right name to ensure you maximise your tax position.

A client bought a new car for his business. The business paid for the car but the finance arrangement was in his own name. The interest is not tax deductible on the money borrowed.

While we can remedy the situation, it adds to our work and your costs. Make sure if you are borrowing money for your company, the documentation is made out to the company and is signed on behalf of the company by you as a director.

Sometimes you can get a lower rate of interest by getting a loan in your own name rather than in your company name. If this is the case, talk to us. You could be appointed agent for the company. This would need to be properly documented.

Make sure you get proper tax invoices

Not all retailers are issuing proper tax invoices.

For purchases over $50 at a minimum a tax invoice must include the words “Tax Invoice” as well as the GST registration number.

If you do not receive a tax invoice for goods purchased, you are not permitted to claim GST. Should you be given an invoice which does not qualify as a tax invoice, ask the assistant to record the missing information on the document and, to be extra cautious, get the person to initial the changes.

You may well discover the omission after you have left the shop. The remedy, in that case, is to ring the firm concerned, get the name of the person you talk to and ask for permission to insert the missing information as agent for the supplier. Then insert the missing words or number. Be careful, it is illegal to be issued with two tax invoices for the same transaction.

Can you spot the error in the receipt above?