Two Drunk Accountants

This week we are discussing ecommerce businesses! Where most people go wrong with GST and the importance of clean data. We are joined by cofounder of Link My Books Pete to talk all things E-Commerce. Link My Books: https://linkmybooks.com/?fpr=saa58&gad_source=1 Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week Tim and Dan discuss the ATO target areas for audit this financial year and the areas you may need to ensure you are claiming correctly! This includes paying your own super, cashies and claiming for your own motor vehicle in your business. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week Tim and Dan talk about the changes to regulations that have happened in the last 2 years and how they affect your business. These include removing credit card surcharges, payday super, ATO guidance changes, accounting standards changes and much more! Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week let us entertain you! By chatting about what happens when you take that client out to a lunch, go to a networking event, buy your team a coffee or have a Christmas party! It's annoyingly complicated and the answer is sometimes yes and sometimes no and sometimes only if you pay FBT? Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

The government have recently released the draft laws for the minimum tax on discretionary trusts and there were some surprises and changes! This week we review these draft laws and discuss how it will affect you. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week we put our knowledge up against AI and apply a real life scenario about what entity a commercial property should be purchased in. We go through the options we see and compare against what 3 different AI solutions. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

Tax-ember takes on an issue for every tradie out there.....FBT on your ute! Thats right we talk all things fringe benefits tax and your motor vehicles and how to ensure you avoid any nasty surprises! Having utes (and other vehicles) in your business could cost you tax...if you do it wrong. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

Continuing with Tax-ember we are discussing the new CGT rules and what you need to know for your investments! Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week we tackle the ATOs changing stance on how and what you can claim for rental properties that are also used as holiday homes! Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

One more week until we are back from our mid year break and thought we would run another book nugget from the past. This week we do our first review of a popular business related book Profit First by Mike Micholwicz. We discuss what we think is good about the book and extract those golden nuggets of wisdom.

This week we do a book nuggets on Deep Work by Cal Newport! We gleaned a lot out of this book so have a listen and see how you can drain the shallows from your life!

Dan's back from his honeymoon, and Tim's straight into one of the biggest things that catches people out at tax time – proving your deductions. This episode is all about substantiation. It might not be the sexiest topic, but it's the difference between keeping your tax deduction and having the ATO knock it back. The boys cover everything from working from home, motor vehicle claims, and phone and internet expenses, through to laptops, office furniture, donations, super contributions, and the little traps that can wipe out a perfectly good deduction. They also chat about the latest ATO expectations around working-from-home claims, what records you actually need to keep, and why "I reckon I used it about half the time for work" just doesn't cut it anymore. You'll learn: Why a simple four-week phone and internet usage diary can save you a headache. When it's worth keeping a motor vehicle logbook (and when it isn't). Why your drive to and from work usually isn't deductible. What evidence you need for work-related purchases like laptops, desks, chairs and stationery. The allowance trap that catches people claiming travel and vehicle expenses. The super contribution form you must lodge before claiming a deduction. Whether you're doing your own tax return, looking after clients, or just want to make sure your deductions stack up if the ATO comes knocking, this episode is packed with practical advice you can actually use. The takeaway? The ATO expects proper records, not rough guesses. A little bit of record keeping now can save you a lot of pain later. If you're an accountant, it's also a great refresher before busy season kicks into full swing.

Today, we have Sam Petrusma from Made by Beings filling in for Dan. Sam and Tim explore the practical applications of AI in business, addressing common misconceptions, current capabilities, and future potential. They share insights from Sam's innovative AI projects and discuss how small businesses can leverage AI for efficiency and growth.

Between holiday destinations, Dan has dropped by the studio to record with Tim, tune in for a delightfully unhinged episode.

While Dan is away on his Honeymoon, we have Chloe & Tim diving into the wonderful world of Child Care Subsidies (CCS) — because apparently raising children wasn't expensive enough already. They unpack how CCS is actually calculated, why your income might not be what Centrelink thinks it is, and how things like salary packaging, fringe benefits, extra super, and investment property losses can affect your subsidy. The pair also tackle the big question many parents ask themselves: "Is it even worth going back to work?" when childcare costs, tax, and daycare sickness seem determined to eat every extra dollar you earn. Plus, they throw around a few ideas on how to fix the system, including whether childcare should simply be tax deductible. This is one not to be missed!

We have Joel in the hot seat today, while Dan is away. Tim and Joel are talking The First Home Super Saver, she is back in the news, and we thought it timely to recap on who and what this scheme is.

This week we discuss confusion about how to structure your business in the wake of the budget announcements. Should your plans change? What is the best structure for you? Plus an extended intro on the Space X IPO. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

Are you an accountant looking for an exciting new opportunity? Someone with a wealth of experience looking to help lead and be a part of a team of client focussed accountants? Well we might be looking for you! We also touch on some of year considerations. Take a look at our job add! Job Add! . Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

This week we chat with all around legend Brent Szalay managing director at Seiva and Leaders in Business to talk all things advisory. What do clients actually want and how to package and price this. Leaders in Business: https://leadersinbusiness.com.au/ Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com

When your accountant finds you have done something wrong or have lodged incorrect details do they have to report to you to the relevant authorities? Well the answer may surprise you as we discuss what accountants are required to do when we discover non compliance with laws or there has been false or misleading lodgements. Sponsor Offers: Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com