KLW are more than just a team of business tax and accounting specialists. Running a business is more than just crunching the numbers. We can be your partner and give you professional advice on a range of other business issues as well.
Setting up the correct business structure (sole trader, partnership, company or trust) is crucial. There’s no right or wrong business structure, it depends on your situation, needs and goals.
Asset protection and succession planning are two crucial (but often overlooked) aspects of running a business. Our team can help you to put asset protection and smooth succession planning strategies in place.
We source the best business loan and personal mortgage solutions through our network of finance and loan brokers.
We can conduct a financial health check on your business and advise you of any areas that require attention to ensure your short, medium and long-term success.
Our team can provide you with budget and cash flow forecasts to help you plan and make business decisions.
We can advise on industry benchmarks and help you to set key performance indicators (KPIs) that will help you maintain or create competitive advantage.
Each of the four main business structures have their advantages and disadvantages. Our professional advice can help you choose the right one for your circumstances.
A sole trader structure is one of the most common in Australia. It's flexible and easy to set up, but it offers limited legal and financial protection for business owners.
A partnership enables two or more partners in a business to distribute its income or losses between themselves, ideally based on a partnership agreement. It’s also relatively easy to set up, but there can be the potential for partner disagreements.
A company structure is more complicated to set up than a sole trader or partnership arrangement, but it can provide tax benefits and much more legal and financial protection for business owners.
A trust is the most complicated business structure. However, it does protect assets of the business owners and provides tax benefits and greater flexibility to distribute income.
Reviewing and providing advice on your business structure/s
Reviewing and providing advice on your investment structure/s
Reviewing and ensuring that you have the right business agreements in place
Reviewing and ensuring that you have appropriate insurance coverage in place.
Our team also provides succession planning services for our clients. Succession planning can help you to preserve and tax-effectively transfer your wealth when the day inevitably comes that you will leave your business for good.
Having a succession plan in place allows you to smoothly transition out of the business if you decide to sell, retire or are forced out for health reasons or death. It’s invaluable for your peace of mind and it’s never too early to seek the professional advice necessary to put a business succession plan in place.
Our pharmacy engaged Kelvin Wang as our accountant in 2014. Shortly after Kelvin’s involvement with our business, we have transferred from a desktop system to fully cloud base MYOB system. We are impressed with the service we receive from Kelvin Wang, the managing director of KLW Group Pty Ltd. We were looking for someone to look after our book, but what Kelvin has done for us is so much more. In fact, Kelvin became the virtual CFO for our business, providing tax advice and helps with our finance matters. The service provided is beyond comparison. I would be very pleased to recommend the service of KLW Group.
Kelvin has helped me to get on top of all my accounting and tax for my business and family for over 5 years now. He is now not only an accountant to me, but a trusted business consultant and friend. He is always there whenever I have any questions or issues regarding accounting finance and tax . I would not make any significant business decisions without consulting him first. His knowledge and expertise in the area helped me saved real dollars and avoid a lot of potential risks. He is also an expert in self managed superannuation. His advice is saving me money and growing my super. There are lots of accountants out there in Sydney, but Kelvin is one of the best, a trusted business partner and a friend who helps with business and family wealth growth.
We engage Kelvin Wang as our accountant and have been impressed by his professionalism and comprehensive business knowledge. The service offerings are, indeed, tailored to our needs. Kelvin and his team have helped us with tax compliance, international tax issue resolution, and implementation of new financial systems. The approach is both practical and easy to understand. We are much appreciated that company finance has been well looked after, and let us concentrate on our core business and improve customer satisfaction. We would be very pleased to recommend the services of KLW Tax.