Phone 02 8383 4400
Phone 02 8383 4400

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YML Insight March 2015

From Your Trusted Accountant
Why should I consider creating a new entity?
Formalize informal partnerships
Business partnerships are ticking time bombs as you are responsible for the actions of your partner. But unlike a joint account, a lawsuit against your partner can put all of your assets at risk. Form an entity to provide you with legal protection.Create business entities to shield assets
If you have a small business or do part-time work on the side without having a formal business structure, you are operating as a sole proprietorship. The "sole" means it's just you, but all of your personal assets are at risk if you are sued.
Create a business entity that shields your personal assets from lawsuits against your company.A new entity could also allow wealth creation and better tax planning.
Formal informal partner
From Your Finance Specialist
How do I borrow for my business and get a cheap home loan rate?
Many business owners who are looking for a business loan, let the bank take their home/ investment property as a security.Business rates are usually 1%-1.5% higher than normal home loan rates. On a Million dollar loan we can save a client $10k-$15k per year! If you pay the higher loan rate, we can help you refinance to receive a cheaper loan rate.



Business bank
From Your Fincancial Adviser
Where is my super?
If you have held several jobs over your working life chances are you have a number of superannuation accounts you know little about.
You should consolidate them, save on unnecessary fees and have the combined funds invested in the correct portfolio.
Personal insurance policies may be offered by these accounts, so before your consolidate, these need to be analysed. We, the financial planning division at YML Group, will be glad to assist in this.
From Your Business Partner
How can I understand how my business is performing at a glance?
Understanding my business at a glance is not just possible but is essential in making efficient informed decisions.A combination of historical and forecast information, condensed into a dashboard report that is prepared daily or weekly, allows you to see how the business is performing.Focussing on key business drivers such as sales, cash flow and significant costs can minimise surprises at month end and prevent poor decisions affecting the business over the longer term.

A dashboard report tailored specifically to your business needs, that is reviewed and updated at regular management meetings is an essential tool in any business.

Understanding business