Sundqvist after VHL

[Berocka 2,192]

Berocka Sundqvist has moved back to Australia and he has used his left over money to set up an accounting firm in his home town. He did an accounting degree whilst studying before joining the VHL.

 

His firm he has started up is focusing on mainly small businesses in Australia and looking at their week to week needs. With a large focus on the year end compliance work. This has kept him extremely busy since leaving the VHL.

 

The biggest struggle was opening up a business during the COVID times. Not only was it hard to find clients in a time where a lot of businesses were shut down. The hardest part was keeping up with the ever changing legislation around the offsets and grants that were available from State and Federal government.

 

He has found the company side challenging and engaging where working on individual returns are usually overly complicated and not as profitable. With the increase of capital gains tax regarding the sales and transfers of Cryptocurrency the tax world is an ever changing beast. There is a high number of clients getting involved in Crypto trading without them fully being aware of the taxation implications. This can lead to messy work trying to reconcile and calculate all the taxable sales.

 

One surprising fact of COVID was the increase in property prices leading to more people purchasing and selling their investment properties. The Capital Gains Tax around the sale of properties has always been a tough thing for Sundqvist to calculate and fully get his head around all the rules.

 

He has become surprisingly proficient in the cloud based accounting software and making it one of the big selling points of his firm. He can bring in new clients and easily move them in the right direction of where they should go for their software needs.

 

Starting the firm has shown that Sundqvist really has lost touch with the sense of money during his time in the States playing hockey. He sees his teammates throw around millions of dollars and it is hard to adjust back to small business. He thinks he is finally getting it straight in his head. Knowing when he can bill clients a little bit more and when he needs to take a loss on a job to keep a client happy.

 

He hasn’t really missed the grind of hockey at all though he does miss the fan interactions he used to have. Obviously with ice hockey being a smaller deal in Australia as compared to North America and Europe. He doesn’t get stopped by kids in the street and there is no chance of seeing anyone walking around wearing his Jersey. But even though he is now out of the spot light he likes that there is some anonymity, he can go out to the park with his kids and wife and know he is just like anyone else.

 

So if you want to start up a small business in Australia give Sundqvist & Co Accountants a ring and let them know you are a fan of Seattle!

[BOOM 8,408]

How's my Instant Asset Write-off coming along? 

[Berocka 2,192]

50 minutes ago, BOOM said:

How's my Instant Asset Write-off coming along? 

I think you mean temporary full expensing.

 

This is what I mean about the ever changing legislation

[BOOM 8,408]

This kind of advice is why I am happy to pay your rather large fee. Top notch accounting, would recommend.