Diving Deep into Accounting with Alex | Frankly Finance Episode 12

Today, we're joined by Alex from Espresso Accounting, based on the Gold Coast, diving into the exciting world of accounting. But first, let's settle the important debates: pineapple on burgers—yes or no? And the eternal question: coriander lover or hater?

Now that we've established our culinary compatibility, let's delve into the accounting realm. Alex shares her 15-year journey in accounting, from the desert to public practice, shedding light on the diverse roles within the field. From tax returns to business advice, accountants wear many hats.

Ever wondered about forensic accountants, inspired by shows like Ozark? Alex gives us a peek into their world. Plus, we debunk the myth of tax refunds—why having a tax bill isn't always a bad thing.

But what about those dodgy accountants who promise the world? Alex advises caution and shares insights on handling tax bills and setting up payment plans.

Transitioning to business talk, we explore the fine line between a hobby and a business. Setting up a side hustle? Get ready for a crash course in ABNs, business names, and professional requirements.

And when it comes to strategic questions during the year, fear not! Alex doesn't bill by the minute for a quick email. As for capital gains tax queries? It's a complex beast best tackled with professional guidance.

So, whether you're navigating tax returns, planning your side hustle, or pondering the intricacies of capital gains tax, Espresso Accounting is here to guide you through the financial maze. Tune in for more insights next time!

Share your burning questions in the comments below. Until next time, happy accounting!"

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Timestamps:
00:00 Introduction and Welcome
00:17 Meet Alex: The Accountant
01:18 Understanding Different Types of Accounting
01:34 Alex's Journey in Accounting
02:55 The Role of an Accountant
06:39 Tax Bills and Refunds Explained
15:29 Starting a Side Business: Tax and Legal Considerations
23:04 Capital Gains Tax and Final Thoughts

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