Money

Several benefits of hiring SiDCOR as your accountancy provider

  • Written by News Company


SiDCOR is one of the leading accounting firms across Mossman, Gold Coast, Port Douglas, Newcastle and Cairns. They offer a range of comprehensive business and taxation services, enabling them to maximise client satisfaction levels. One of the great things about this accounting and financial services firm, which was founded by Paul Siderovksi, is the fact that the business sees itself as more than “just a business.” The company is built on satisfaction, happiness and enjoyment, both externally and internally. There are many benefits of hiring SiDCOR as your primary accounting consultant, which is why you should consider them as your business or personal accountant soon.

SiDCOR has an authentic mission

One of the great advantages of the firm is their authentic mission and core values. Indeed, the company wants to ‘change people’s lives and help them grow into their potential.’ SiDCOR is bound by its mission to help every individual grow their business life, create wealth and even improve the personal aspects of their clients’ lives.

SiDCOR’s SUPER7 ensures complete focus

This accounting firm also relies extensively on its SUPER7 framework, which helps structure and orientate their key offerings. Indeed, the framework is categorised into the following:

  • Wealth

  • Exit

  • Tax

  • Protect

  • Cashflow

  • Profits

  • Growth

If you’re a little confused about how these categories work and which strategies are relevant, read on to find out more!


Wealth

When it comes to wealth creation, you want to ascertain that your assets are being maximised to their full capacity. To maximise your wealth, SiDCOR assess your asset structure and allocates your wealth into four key subcategories:

  1. Security

  2. Growth

  3. Cashflow

  4. Lifestyle

The “security” component is all about those long-term investments; the slow but steady contender. This is the money that you can’t afford to lose. The “growth” aspect of your wealth aspect is related to strategies you can use to grow your wealth. Things like acquiring land, equities, commodities and rental properties fall under this category. Cash flow strategies focus on ensuring that your business always has enough liquid cash to maintain short-term debt obligations. Finally, the “lifestyle” part of your wealth bucket is about not losing sight of the things that you love to do that enhance your life.

SiDCOR knows when you should exit

When people start a business, they rarely have an exit strategy. However, the simple fact is over 30% of new small to medium sized enterprises fail in their first few years of operation and this stat is on the rise. It may be hard to deal with, but recognising that your business could fail and having an exit plan to shield your financial culpability is crucial to protecting your personal assets.

However, your exit strategy may not be required because of business failure, it could be because of business success. If your business has been incredibly successful, you may want to sell it to a prospective buyer. Thankfully, this business can be that reliable facilitator during the negotiation period, ensuring that your business is valued fairly.


SiDCOR will minimise your tax obligations

Like all great accounting firms, SiDCOR knows how to reduce their clients’ tax obligations. They achieve this by striving to know everything about their clients, in terms of revenue streams, asset structures and business ventures. Moreover, the company offers free tax reviews for new clients, ranging from tax returns to financial statements in the four years leading up to the consultation.

In their experiences, the staff have found that most of their clients were consistently overpaying their tax obligations and were incorrectly structuring their payments. As a result, they will ensure that your business is only paying the required, legal amount of tax and nothing more.


SiDCOR helps with self-managed superannuation methods

Finally, this great accounting firm has experienced personnel who are more than happy and well-equipped to help with your superannuation and retirement planning. It can be hard to know what the specific laws and rules are surrounding superannuation policy, since they are constantly changing. Thankfully, SiDCOR has the right people to help you set up a fund that works with your financial situation. Generally, the following process is following when it comes to SMSF (self-managed super funds):

  1. Set up a fund

  2. Money in

  3. Invest

  4. Money out


Conclusion

So, if you need an effective, reliable and professional accounting firm, you simply can’t go past SiDCOR accountants.

The Viw Magazine

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