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Contractor Audit How much could it cost me ?

Money

 

This is a question I am being asked on a daily basis by worried contractors.

In the South West region 123 cases have been settled to date.

The average settlement has been 40,000 euro.

Total amount for settlements to date  is 4.2 million with a further

2 million being paid on account.

So it is easy to understand why Revenue have decided to extend this audit investigation nationwide.

If you are a worried contractor and want an independent review call our

CONTRACTOR HELPLINE AT 6684411

Contractors Revenue audits go nationwide

Audit

A REVENUE crackdown on professionals who evade tax by pushing inflated expenses through specially incorporated companies is to review the tax affairs of up to 3,000 individuals nationally.

The investigation, which is expected to last three years, follows a pilot project in Munster.

Eoin O’Domhnaill, the Revenue’s principal officer for the south west, told a seminar organised by accountants Noone Casey last week that the pilot project uncovered “flagrant and outrageous claims”.

One contractor claimed his honeymoon in Florida as a business expense and another claimed for the company’s “annual meeting” in Portugal.

Practices uncovered by the Revenue also included the employment of spouses, parents and grown-up children as employees of contractor companies. In certain cases, the employees weren’t aware that the contractor was claiming to pay them a salary. There were also examples of relief claimed for bogus pensions.

At some companies, expenses and subsistence claims equalling 70% of turnover. Average settlements to date have been around 30,000.

There are a lot of worried contractors out there. If you are one of these and need an independent review of your accounts please call Paddy Gahan at 01 6684411.

Xero Rules Why Our Clients Love Xero

Xero is the best thing to happen to accounting software in 20 years. If you’re not using Xero for your accounting, you’re missing out.

Seriously!

As you can tell, at Gahan.ie we love Xero. Our clients love it too.

Xer Rules

Weird, huh? Using the word ‘love’ in relation to accounting software seems strange doesn’t it? (Even for us accountants!)

Our accountants are implementing Xero with virtually all our business clients. As a result, Gahan.ie Accountants & Advisors are one of Ireland’s leading xero providers

This means when you get started with Xero with us, you’re not only in expert ‘Xero Guru’ hands. We use Xero for our own business so you’re dealing with accountants who are enthusiastic and keen to help and train you in how to best use Xero.

And enthusiasm counts.

I hear it every day here, when accountants are on the phone speaking with clients who are being stepped through our Xero Setup & Training Package. Our team’s passion for this brilliant time-saving, stress-reducing piece of technology just comes out in how they explain it to clients.

Enthusiasm rubs off.

If you’re anything like all our clients who have switched to Xero already, we know you’ll be just as enthusiastic as we are about how easy and pleasurable Xero is to use.

So to get a free test drive contact us at 6684411 or email info@gahan.ie

Grow Your Business With an FC

CFO

Imagine Having a Seasoned FC to Help Guide Your Business Decisions.
Larger businesses have a Financial Controller (FC) on staff. They can afford to. They also understand that they cannot afford not to, because the FC plays such a crucial role in a business, keeping an eye on the numbers, helping with accurate forecasts, giving solid information to the business decision makers, as well as helping with decision making.
But what can small and medium sized business do, to get CFO input and
guidance?
The answer: You out-source it. You get a part-time, out-sourced FC until you can afford one full-time.
That’s where we come in.
Our ‘Your FC’ service has been developed with input from our clients to make sure it’s the ideal mix of support service and affordability.
As ‘Your FC’ we roll our sleeves up and work with you in finance meetings throughout the year on:
• Cash flow – Efficient management of cash flow to provide cash for saving or growth
• Profitability – Identifying key drivers of profit and focusing on these
• Business value – growing a valuable and saleable business asset
• Structure management – Risk and taxation issues
As business owners, we all know we need to measure and monitor Key
Performance Indicators (KPI’s). That is, the numbers that really matter in running our business. It is also important that you have a ‘KPI dashboard’ with a future-focused approach with forward targets, utilising historical information to assist in monitoring and direction.
The targets need to be relevant to your business direction and strategy and the current identified issues.
As your FC, we bring to the finance meeting with you clear reports, real-time KPI information, and as well we will discuss:
• Profit (historical and future)
• Cash flow (historical and future)
• A mixture of focusing on ‘Lead indicators’ which drive performance and ‘Lag Indicators’ that measure the outcomes
• Marketing activity and effectiveness
• Operational efficiencies such as work in progress issues
• Financial indicators such as debtor turnover
• Team efficiencies, knowledge, morale and safety.
As an experienced ‘sounding board’ for you in making your business decisions,
and by helping with your forward planning for achieving the next period’s targets, our ‘Your FC’ service and support gives you a crystal clear focus for
what needs to be done to achieve the goals of your business.
Your next step … Call us on 6684411 or email us on
at info@gahan.ie for a no cost and no obligation meeting to discuss
how we might work with you as ‘Your FC’. We’ll then outline the costs so you know exactly what lies ahead.

CHECK OUT OUR FIXED FEES http://gahan.ie/fixed-fees/

Merrion Private Vaults Opens In Dublin

Company sets-up safety deposit vault as burglaries rise and people fear banks

Merrion Private Vaults is the brainchild of David Walsh, who works in advertising, and Voltaire Diamonds owner  Seamus Fahy, and is located just off Merrion Square in Dublin.

vaults-jobs-merrion-390x285

Traditionally banks have provided boxes in various branches but are now ceasing or have ceased to provide them, said Fahy.

“People from urban and rural areas have indicated that as the bank closed its branch in the area, they have nowhere to put valuables. Home burglaries – often with extreme violence – are on the increase,” he added.

The vault, which has been constructed using the very latest state-of-the-art security technology, will have several thousand safety deposit boxes of varying sizes and can be rented on an annual basis.

http://merrionprivatevaults.ie/

New Rules of Email Marketing Webinar Replay

Exclusive for friends of Paddy Gahan: Free Access to the New Rules of Email Marketing Webinar Replay

“New Rules of Email Marketing” webinar with Ian Brodie (exclusive invitation)

email marketing

I’m sure you won’t be surprised to hear me say that for most businesses, Email Marketing can be THE most powerful marketing tool.

As you know, the vast majority of your clients and customers won’t be ready to buy from you the very first time you come into contact with them – particularly if they’ve just come to your website. Email marketing allows you to follow up and build a connection with them; build trust and credibility over time until they’re ready to buy.

That’s why when the Direct Marketing Association measured the ROI of different marketing methods, Email Marketing came out as number one, with almost double the ROI of its nearest competitor.

But getting Email Marketing to work for you isn’t easy, particularly today.

Our days have never been busier. Our inboxes have never been fuller. We’ve never been quite so resistant to being “sold to” as we are today.

And with everyone seemingly offering a free email newsletter these days, it’s getting even harder to persuade clients to opt in to getting our emails in the first place.

That’s why I’ve asked Email Marketing expert Ian Brodie to share with us some of his techniques for getting better results from your email marketing in today’s “new world”.

You can register for this live, online training event on Tuesday 16th July at 3pm (Ireland/UK time – 4pm CET)

http://www.ianbrodie.com/nrem-paddy

You may have heard a little bit about Ian before. He was recently named as one of the Top 50 Global Thought Leaders in Marketing and Sales by Top Sales World Magazine and Salesforce.com picked him as one of their “Social Business Dream Team”. But what you may not know is that he gets over 70% of his high paying clients through email marketing.

On this webinar he’ll be sharing his exclusive tips on getting more email subscribers and turning more of them into paying customers, including:

• The big mindset shift that will transform your results with email marketing.
• How to use the “Speed To Value” principle to get a steady stream of ideal clients to subscribe to your emails.
• The simple formula (borrowed from Cosmopolitan magazine) to get more subscribers to open and read your emails.
• The one thing you must do in your emails (that’s the absolute opposite of what you’re “supposed” to do) but is the biggest factor in winning you new customers and clients.

To sign up for the free training, click this link:

http://www.ianbrodie.com/nrem-paddy

And I’ll see you live on the 16th.

Paddy.

Do You Know What Keywords Are Best For YOUR Business?

Do You Know What Keywords Are Best For YOUR Business?

 

We are delighted to announce that we have again teamed up with Ireland’s leading online marketing agency, DPFOC, to deliver a webinar that we think will be of real benefit to Irish businesses. In this webinar, Eddie O’ Driscoll, MD of DPFOC, speaks about why the saying “half of my marketing budget works, I just don’t know which half!” is out-dated and should not be accepted. He explains that through implementing rigorous tracking systems, the source of every sale and lead can be known. This information gives companies total visibility into what channels are delivering and which ones are not.

Presentation Outline:

Why we need a scientific approach to online marketing

How to implement a scientific approach

Query form tracking

Telephone Tracking

Ecommerce Tracking

The Dangers of Last Click Attribution

Different Attribution Models

Don’t give up on low conversion rates – fix them!

Places are limited so register now!

Here is the link: https://attendee.gotowebinar.com/register/3551326151947043584

 

Cloud Accounting slash accounting costs by 30%

iPhone

Most accountants don’t want you to know about cloud based software because they know it will save you 30-40% of your accounting and bookkeeping time, which means your accounting costs could reduce by up to the same amount.

 

Accountants are currently rewarded for taking more time and being inefficient (by charging you by the hour, and often at laughable rates).

 

This is the old way of accounting and the future will look completely different to this. Accountants are scared of cloud solutions as you can see what they have or haven’t done, meaning they need to actually complete your work within a set time frame, instead of you just being another file on their floor. Now there is real transparency.

 

We are inviting  you to look at what value your accountant currently provides you. Do they offer a flat fee for the work they complete, or do they get rewarded for being inefficient? Has your accountant showed you how Xero can help save you 30-40% of your data entry time meaning the can add value by helping you grow your business? If you can’t answer yes to these questions, I suggest you speak to us about how we can save you money, but more importantly help we can help you know your current numbers, and how to make more money.

CHECK OUT OUR FIXED FEES http://gahan.ie/fixed-fees/

Goodbye to the old way of accounting!

 

Bread Revolution in Delgany

Firehouse

 

Patrick Ryan and Laura Moore’s Firehouse Bakery and Bread School has been a huge success since opening last June on Heir Island in West Cork, and they are now bringing their expertise ashore, in a collaboration with Emma Stone and Jackie Spillane in Delgany.

The Delgany, on the site of the former Delgany Inn in the Co Wickow village of the same name, will incorporate a bakery, café, coffee house, grocery and restaurant.