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Connect Podcast
The Connect Podcast slams you with the raw, unfiltered truth of SME ownership. We don't do fluff. We don't do excuses. We deliver hard-hitting, no-BS conversations with business owners who are in the thick of it. Every episode is a power-packed punch of real-world insights, tackling the brutal challenges and game-changing victories that define entrepreneurship. Our guests don't hold back - they reveal the guts, grit, and grind behind their success. We bulldoze through industry barriers, demolish common pitfalls, and arm you with strategies that hit your bottom line. This isn't your feel-good, pat-on-the-back show. It's a wake-up call, a kick in the pants, and your secret weapon for business domination. The Connect Podcast doesn't just talk business - it revolutionises it. Ready to cut through the noise and skyrocket your success? Subscribe now. Your competition won't know what hit them.
Connect Podcast
Connect with Michael Messner, Vantage Accounting
In this episode of the Connect Podcast, we interview Michael Messner from Vantage Accounting, who shares insights on various business structures, including sole traders, companies, and trusts. Michael emphasises the importance of understanding these structures for asset protection and tax benefits, particularly for small and medium enterprises (SMEs). He explains the differences between business types, the complexities of ABNs, and the role of offset accounts in managing finances. The conversation also highlights the responsibilities of directors and the significance of building trust with accountants for informed decision-making.
Key Takeaways
- A company is a legal structure that can conduct business.
- Trusts allow for flexible income distribution among beneficiaries.
- Offset accounts help manage loan interest effectively.
- Choosing the right business structure depends on individual circumstances.
- Building a personal relationship with your accountant is essential.