Accounting for Investors
Here at McHenry Partners we focus on helping our clients build their businesses and grow their wealth. As such, we service business owners and individuals who predominantly invest in shares, managed funds and property. It’s also no surprise to find a large number of our clients own an investment property or have their own self managed superannuation fund.
Minimise Your Tax Obligations & Maximising Your Wealth
One of our major points of difference to traditional accounting firms is that we view the tax return as the start of the client process, not the end of the process. While we recognise the importance of tax returns and compliance, investors ultimately want to grow their personal wealth. Our role beyond compliance is to offer clients tax effective strategies to minimise their exposure to income tax and maximise their family wealth in the process.
Being a process it is ongoing and under constant review but the most common vehicles we use are negative gearing of both property and shares plus the establishment and maintenance of self managed superannuation funds. You’ll find these areas have both become niche services within our accounting firm.
Services We Offer
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Business start-up
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Business Planning
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Management reporting
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Budget & Cashflow forecasting
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Establishing Key Permorance Indicators KPI's
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Business Improvement Strategies
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Accounting system advice & support
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Business Coaching & mentoring
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Business Structure Advice
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Social Media & Marketing workshops
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Buying & Selling business advice
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Business Succession Planning
Tax Planning & Structures
In basic terms, tax planning is the process of legally arranging your financial affairs to minimise your exposure to tax, both income tax and capital gains tax on sale of the asset.
Building wealth starts with planning and putting the right ownership and tax structures in place for your investments. The correct tax structure can reduce your tax liability and also potentially help split the income with family members. Legally reducing the amount of tax you pay is a key part of the wealth creation plan.
While structures such as trusts can be used to distribute income to family members and provide asset protection it is a complex area and we need to review your circumstances and objectives before we make a recommendation. This review usually takes into account issues like they types of assets you are purchasing, income splitting opportunities, asset protection, admission of new beneficiaries and discount capital gains tax concessions.
The types of investments now available to investors are very broad and our goal is to help you make an informed buying decision. You can read more about our negative gearing expertise on this site together with our self managed superannuation fund services.
In summary, we offer our investor clients a range of tailored financial, tax, accounting and financial planning solutions including:
- Preparation of Income Tax Returns for Trusts, Partnerships, Companies & Individuals
- Advice and Establishment of Alternate Business Structures
- Registrations including ABN, TFN & GST
- Software Selection to Track Investments including Rent Manager
- Preparation of Finance Applications & Bank Submissions
- Bookkeeping and Payroll Services
- Tax Planning & Tax Minimization Strategies
- Industry Benchmarking and KPI Management
- Personal Financial Planning & Wealth Creation Strategies
- Risk Insurances
- Business Succession Planning
Client Testimonials
I first met with Will from Vostro Private Wealth to consolidate our personnel insurance. Will was very helpful, understood our position & organised to oversee our policies. Shortly after I needed to make a claim and through Will and Kylie the process was made easy and our claim processed promptly.
Will is now providing financial planning for our Self Managed Super Fund. He has implemented a plan we are comfortable with and look forward to working with him in the future to assist our transition into retirement.
Doug Cameron
“We have been utilising McHenry Partners services for 15 years. They encourage us with initiatives that we could benefit from, promptly respond to our requests and always try to minimize our taxes in appropriate ways. McHenry Partners have been a great sounding board for any business or investment matters we would like to discuss. Their client social events are pretty good fun! We would highly recommend their services.”
Andy & Tina Kiss
Thompson Kiss Electrical
“Computers and accounting I have never been fond of. In the past I used Excel spreadsheets to keep track of income and expenses, word to prepare my invoices and MYOB to manage my payroll. McHenry Partners demonstrated the benefits of Xero and convinced me to transfer to Xero and the only regret is that I didn’t do this sooner. Now my accountant can log into the file and assist with any of my queries. My payroll and superannuation are also simplified with Xero. McHenry Partners have helped guide me with my personal investments and to get better finance arrangements.”
www.allwrightplastering.com.au
J. Wright
All Wright Plastering
“Making the decision to start my own business meant I needed to seek professional business advice. McHenry Partners were able to advise me on the right entity to use, guide me on compliance matters I needed to navigate, set us up on Xero and provide training on the software (which we have found to be a breeze to use) and answer all our questions.
It certainly helps getting our business off on the right foot with no unwanted surprises to occur.”
Ben Mitchell
Stinton Advisory
“We had only been in business for 18 months and growing at a quick rate but felt we needed a mentor or coach to provide more guidance to address the ‘growing pains’ we were experiencing. Our existing accountant had prioritized a compliance focus. By moving across to McHenry Partners they were able to point out improvements to our credit policies, train us on a better financial management system and guide us on the working capital we required to support our growing business. Also introducing us to their associates to help us in areas of expertise, such as asset finance.
I am feeling more in control now and confident we can sustain our growth to achieve even better financial returns.”
Andrew Palmer
Surfcoast Cabinets
“McHenry Partners have been supporting our business for nearly 10 years now.
In recent years we changed over to the Xero accounting system. The training we received was excellent and transition smooth and now the financial management side of the business takes less of our time and we know exactly what our financial position is at any point of time. Whenever we have a business matter to discuss, we always receive sound advice making us feel comfortable when important financial decisions need to be made.”
www.bennettelectricalac.com.au
Nathan Bennett
Bennett Electrical & Bennett Racing
Contact Us
Contact us today to discuss how we can help you with your wedding reception centre, conference centre, theatre restaurant or hotel. You can expect practical, down to earth business advice and tax effective solutions. We are ‘business and profit builders’ who enjoy working with ambitious business owners looking to accelerate their business success.
To take the next step we invite you to book a FREE, no obligation, one hour introductory consultation to discuss your business needs. You’ll get practical business, tax, marketing and financial advice that could have a significant impact on your bottom line. To book a time, call us today on 1300 789 844 or complete your details in the box at the top of this page.
Supporting Businesses & Individuals Across Greater Geelong
We work with clients throughout Geelong and surrounding suburbs, including:
Make a Change…
Get in touch
Not getting what you need from your current accountant? McHenry Partners are here to change things for the better.
Our initial free consultation will identify whether you're comfortable with our personality, style, service & value that is to be provided so you can make an informed decision to engage us.
We will provide an ethical letter to your Accounting firm advising we are managing your financial compliance obligations from here and request any information that we may need.
We will agree with you on the services you require from us over the next 12 months and agree on a fee amount and payment terms that are suitable to both parties
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