Obviously, there are many more reasons to why start-ups would benefit hugely with having an accountant but these are what we think are the best reason to why an accountant would be helpful to starting up companies.
5. Businesses need a plan.
One of the core reasons start-ups fail is because they do not have a plan in place. These are where the accountant can come in and develop a sort of roadmap for the client to guide them in the right direction of success. A professional on board can be a huge advantage to a small start-up.
4. Understand tax
Simple but hugely necessary with the consistent change of rules and regulations, an accountant at your side can avoid a hefty fine. Especially with the first few years of a start-up, every cent is needed, a fine at any stage would not help the business.
3. A new perspective
Oftentimes entrepreneurs are so involved running the day-to-day operations of their business that they may not be able to see the whole picture. Someone on the outside looking in can get a different view of the ongoings and accountants fresh outlook from the outside may lead to something beneficial for the start-up.
A good accountant will represent the company in the best way possible. This is important for new businesses looking to build strong relationships with good clients and customers.
1.Find a work-life balance
Regardless of how established the company all owners find it the most difficult task to find a balance between work and their own personal lives. It has been the most challenging aspect to all new start-ups and this is how accountants will help, but taking tasks entrepreneurs are less thrilled by and give them the opportunity to focus on selling and marketing their business to allow growth.
In accordance to the budget 2018 these additions will be put in place starting the new year:
• The free pre-school programe will be extended to provide a full 2 year service.
• The Minister announced an increase in the earnings disregard for the One Parent Family payment and the Job seekers Transitional scheme by €20 per week.
• The threshold for receipt of the Family Income Supplement is also increasing by €10 per week for families with up to 3 children.
• The weekly rate for the qualified child payment will also increase by €2 per week.
The Treatment Benefit Scheme is a scheme run by the Department of Employment Affairs and Social Protection (DEASP) that provides dental, optical and aural services to qualified people. The Treatment Benefit Scheme is available to insured workers and retired people who have the required number of PRSI contributions
The extended Optical and Dental services under the scheme will be available to qualified PRSI contributors, including employees and the self-employed, and their dependent spouses/partners with effect from Saturday, 28th of October 2017. This is a further improvement to the Treatment Benefits scheme, which was extended to the self-employed earlier this year.
The “reckonable contributions” for Treatment Benefit are payment of Class A, E, P, H or S social insurance contributions. The amount of social insurance you need depends on your age. For example, there are special rules for people aged 66 and over. Generally speaking, you must have 260 contributions paid at any time, and you must have either 39 paid or credited in any of the two contribution years before reaching age 66, or 26 contributions paid in both the relevant contribution year and the year immediately before it.
Under the Treatment Benefit Scheme, you may qualify for:
j DENTAL BENEFIT
j OPTICAL BENEFIT
j HEARING AIDS
The dental benefit that will be most rewarding to the self-employed in Ireland from the decrease in glasses and lack of demand for hearing aids. But under the Dental Benefit scheme, the Department pays the full cost of an oral examination once a calendar year. From 28/10/17, a payment towards either a scale and polish or, if clinically necessary, periodontal treatment, is also available once per calendar year (depending on the normal cost of the cleaning, there may be a balance to be paid by the customer). You may get tax relief on certain non-routine dental treatments.
There is also an option to have treatment in another EU member state. If so, the Department will pay an amount equivalent to the rate paid for similar treatments carried out in Ireland or, the amount actually paid for the treatment. The lower of these amounts will be covered. You must however, still have the qualifying PRSI contributions. To do this, you must contact the Treatment Benefit Section before you travel to get an application form and for details of the amount, the Department will pay.
Claims may be made through your provider (dentist, optician, or audiologist), who will be able to check your entitlement in advance of treatment, and claim payment afterwards.
To allow for this, your provider will need certain identifying information about you; for example, your date of birth and PPS Number. You must sign a Consent Form to say that you agree to your provider having this information, and supplying it to this Department as necessary to complete the claim for payment.
If your spouse, civil partner, or cohabitant does not have enough social insurance contributions, he/she may still qualify for Treatment Benefit on your social insurance record. For this to happen, you must qualify for Treatment Benefit and your spouse, civil partner or cohabitant must be dependent on you.
Where you are claiming as a dependent under your spouse or partner’s PRSI record, both you and your spouse/partner will need to sign the consent form in advance.
For more information, please visit http://www.welfare.ie/en/Pages/Treatment-Benefit1.aspx
As digital transformation takes hold, organizations must learn what their IT security vulnerabilities are — and how best to address them.
Emerging technologies, particularly the Internet of Things (IoT), are taking global connectivity to a new level, opening fresh and compelling opportunities for both adopters and, unfortunately,
A multi-faceted approach is necessary when you are considering your company’s level of cyber-security. The following simple steps will help you to bring your cyber-security up a gear:
ALL MEMBERS OF STAFF SHOULD BE RESPONSIBLE FOR CYBER-SECURITY
While following security best practices is essential to network security, many organizations remain unaware of, or pay little attention to, the weakest link in the security chain: people. It doesn’t make sense to try to solve what is essentially a human problem solely with technical means. Educating users leads to an alert organization in which users report every suspicious thing they encounter.
IDENTIFY AND ADDRESS INTERNET SECURITY RISKS IMMEDIATELY
Once a risk is identified, users and IT professionals must be committed to addressing it, with the support of executives. In a perfect world, security professionals would strive to create a risk-free environment. That’s not possible, however, because some degree of risk is inherent in every action an organization takes. Simply telling people what not to do is rarely effective, particularly if what they’re doing saves time and produces positive results. It is more effective to focus more on implementing actions that all members of your organization are comfortable with in order to achieve the best method of cyber-security for you.
We have moved offices from Ranelagh to Sandyford. Hope you can pop in and have a tour of the new offices. Jim still making great coffee!
The new address is:
Unit 3A, Block 3
Bracken Business Park