Local Woman Shares Her Story in New Book

Vanessa Fiducia of Profit First Accounting is part of a collaboration sharing advice and inspiring women to follow their calling, believe in themselves, and do their part to change the world in big and small ways!

What if we could inspire people everywhere to change the world?

This question was the inspiration for creating this book. A vision to create something beautiful yet powerful that would inspire others to take action, in their own lives and the work they do, to find ways to make the world a better place in big and small ways.

This book is a collection of stories for women by women focused on inspiring purpose, vision, and everyday activism. Featuring real-life, relatable role-models from all walks of life who are women changing the world through entrepreneurialism, education, conscious living, giving back, advocacy, innovation, and more who had the courage to listen to the call to make a difference and took action to make it happen!

Having the confidence to take action as a changemaker is one of the most important qualities you need to succeed in making a difference as Vanessa explains, ‚ÄúThere is no point running yourself into the ground and working around the clock if it is not why you got into the business in the first place. Work smarter not harder. Just because this is how we have seen it done for years, it doesn‚Äôt mean this is the way of life and it is never too late to go against the gain and change it up and do what you believe in. Someone might just look at what you are doing and what you are implementing and be inspired to do the same and before you know it the world is changing what we once knew for the better‚ÄĚ.

Co-author Peace Mitchell of The Women‚Äôs Business School says, ‚ÄúBelieving in yourself is an incredible force of power that starts with you. Whether you want to change the world, invent an incredible product, take on the big brands, inspire people, take your business global, start a movement, or dream bigger in any way it‚Äôs time to take action and follow that calling!‚ÄĚ

It can be challenging to be a successful leader and Vanessa gives this advice to others thinking about following their calling to make a difference in the world. ‚ÄúEven when the odds are stacked up against you and you feel the weight of the world on your shoulders, never give up‚ÄĚ.

‚ÄúWe wrote this book because we know that there are so many women out there with big dreams and ambitions who are playing small and being held back by fear and self-doubt. We wanted to send a strong and clear message to the world and to women everywhere that it doesn‚Äôt have to be this way, and this book will guide you through overcoming your fears and self-doubt and inspire you to instead embrace the courage to follow your dreams and make a difference.‚ÄĚ Mitchell explains.

The Women Changing the World launches nationally in November with an online festival featuring interviews and presentations from each of the 34 authors.

For more information about The Women Changing the World, visit www.thewomensbusinessschool.com

For an interview with Vanessa Fiducia contact admin@profit1st.com.au or 03 5979 2671.

2021 Roar Awards Finalist in Service Business Category

Another great news for us to share! Our very own Vanessa has been named as a finalist for the 2021 Roar Awards in the Service Business category.

“Roar Success was started back in 2017 with a sketchbook of a handful of ideas and a clear determination to put together a business that would serve as a platform for business owners to really help them grow and celebrate the true meaning of their businesses, not just the typical metrics so many are measured by.” – Roar Success

Vanessa Fiducia is the mum of 2 amazing young children and the Director/CEO of Profit First Accounting. She is Certified in Fix This Next and Profit First Methodologies.

The business started when Vanessa was trying to juggle the work-life balance of working a part-time job and owning a small bookkeeping practice.

Vanessa and her team have grown the business in the last 3 years to a client base of over 400 and are all so passionate about helping their clients create profitable businesses from day 1.

She was inspired to start her business because she knew there had to be a better way. She was seeing the same struggles from all business owners. She had read Mike’s book ‚ÄúProfit First‚ÄĚ which she was already following in her personal life and the penny dropped.

She can educate and empower business owners and entrepreneurs to understand the figures in a way that can drive their business forward in a positive way while making profits and paying themselves what they are worth. Not looking at the business in the review mirror.

Vanessa Fiducia is delighted to be named as a finalist and is proud of her achievements, particularly being a co-author in ‚ÄúBACK YOURSELF‚ÄĚ

“While every day in business is a learning journey and I feel we are always growing and evolving. I am truly creating a business I am proud of and one that works not only for me and my family it also works for my team. I can now call it a reality. I want you to know that no matter what you too can build a business that works for you know matter what that looks like. You can also make it your reality.” Vanessa said.

Read more at www.roarsuccess.com. The winners of the 2021 Roar Awards will be announced at an online event in October.

For more information on the Roar Awards visit: www.roarsuccess.com or contact awards@roarsuccess.com

For an interview with Vanessa Fiducia, contact 0433 063 159, www.profit1st.com.au and vanessa@profit1st.com.au

VIC Mum Wins Gold at 2021 AusMumpreneur Awards

Vanessa Fiducia, from Carrum Downs VIC, who founded Profit First Accounting has been named AusMumpreneur Financial Services Award winner.

The awards were held at an online event where talented mums in business from all over the country gathered to support and encourage other Australian mumpreneurs.

Vanessa said she was excited to win her category in the 2021 AusMumpreneur Awards against such a talented group of women.

AusMumpreneur was created to support Australian entrepreneurs like Vanessa and her fellow AusMumpreneurAward winners, Peace Mitchell, cofounder of AusMumpreneursaid.

‚ÄúThese awards are all about recognizing the growing number of mums who are achieving outstanding business success while balancing motherhood.‚ÄĚ

‚ÄúI was blown away by the entrepreneurial spirit, resilience, and professionalism of the award winners and I know that they will provide great inspiration for other mums considering starting their own business,‚ÄĚ Peace said.

This is the twelfth year the AusMumpreneur Awards have run, with the business mum community growing at lightning speed as mothers look for opportunities to join the ranks of small business owners in search of more flexibility, financial freedom, and family time.

AusMumpreneur Network co-founder Katy Garner said “the awards show the passion of women who want to fulfill their entrepreneurial dreams as well as be great mums.

‚ÄúDespite the pandemic, the number of women starting businesses has continued to grow in the last 12 months! We are thrilled to be the number one community for mumpreneurs and proud to showcase the best and the brightest each year through these awards.‚Ä̬†

‚ÄúWe are delighted that Vanessa has won this award, she has created an outstanding business and is an inspirational role model and ambassador for mums in business everywhere. We wish her and all our amazing Ausmumpreneur Award winners every success in the coming year,‚ÄĚ co-founder Peace Mitchell said.

More information on the AusMumpreneur Awards and the complete list of winners can be found at: www.ausmumpreneur.com

For further information, images, or an interview please contact:
Profit First Accounting at admin@profit1st.com.au

Media contact:                                                                                
0481 369 484 candice@candicepr.com
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Tax Return Guide: Things to Remember

In the preparation of your tax return, you must declare your income statements, payment summaries, and receipts. In understanding the scope of these, we have summarised them below for you to check. It is very important to keep the documents relating to these in order to support your claim. 


Income Statements
These refer to the income you have received from your employer, super fund, or government payments, e.g from DVA (Department of Veterans Affairs) or Centrelink.

Bank Statements
These refer to statements from your bank/s manifesting the interest you earn, any fees or charges you have paid during the income year. 

Shares, Unit Trusts, or Managed Fund Statements
These refer to dividends or distributions you’ve received. The dividends that you’ve chosen to reinvest must be declared/reported as income.

Buy and Sell Investment Statements
These refer to any assets you bought or sold. What needed to be calculated on this are your capital gains and losses. You can access these from your online broking account or you can get them from your investment consultant or stockbroker.

Records from your Rental Property
These refer to the records of the property you put for rental. What you will be needing is the income and expenses relating to it.¬† If you use a property manager you will probably get an annual tax statement that details, otherwise you will need to gather details of it such as rental income amounts, interest paid on rental property loans, advertising, body corporate fees, and charges, council rates, water charges, land tax, cleaning, gardening, and lawn mowing, pest control, insurance (building, contents, public liability), interest expenses, property agent’s fees, and commission, income protection insurance, repairs and maintenance, some legal expenses.

Foreign Income
These refer to foreign pensions or other foreign income

Private Health Insurance Policy Statement
Private health insurance rebates and medical costs are tax-deductible only if you pay for them out-of-pocket. Moreover, your financial position, along with where you get health insurance from, will play a massive part in settling if the costs will be qualified for tax deductions. If you are qualified for the rebate, you can claim the rebate either through your private health insurance provider, they will apply the rebate to reduce your private health insurance premiums, or when you lodge your tax return as a refundable tax offset.

Deductions: What are the things that can be claimed?

Vehicle and travel expenses
This only refers if you use your car for work or work in a different location or travel costs relating to work. Travel between home and work, which is generally considered private travel including any personal travel portion of work-related travel cannot be claimed.

Clothing, laundry, and dry-cleaning expenses
This year, face masks and gloves for COVID-19 protection may be deductible. This also refers to uniform, unique and distinctive clothing relating to work. Everyday clothes you bought to wear to work (for example, a suit or black pants), even if your employer requires you to wear them cannot be claimed.

Gifts and donations
This only refers to gifts or donations to organisations that are endorsed by the ATO as ‚Äúdeductible gift recipients‚ÄĚ.

Home office expenses
This refers to your computer, phone, or other electronic device and running costs such as an internet service. Again, you can only claim the proportion of expenses that relate to work, not private use. There is also an alternative ‚Äú80 cents per hour‚ÄĚ method that can be used for claiming expenses if you worked from home during the COVID-19 lockdown (only from 1 March). Phone or internet expenses that relate to private use cannot be claimed.

Interest, dividend, and other investment income deductions
This refers to an interest, account fees, investing magazines and subscriptions, internet access, depreciation on your computer.

Self-education expenses
This refers to expenses like course fees, student union fees, textbooks, stationery, internet, home office expenses, professional journals, and some travel related to your current job. Self-education expenses where there is no direct connection to your current employment cannot be claimed. 

Tools and other equipment
This refers to tools or equipment you bought to help earn your income. 

Others
This refers to other deductions including union fees, the cost of managing your tax affairs, income protection insurance (but not if it’s through your super fund), overtime meals, personal super contributions (that is, after-tax), and other expenses incurred in the course of earning an income. Meal expenses, unless you were required to work away from home overnight cannot be claimed.

3 Golden Rules

Remember the three golden rules when claiming all work-related expenses on your tax return.

    1. You must have spent the money yourself (and not been reimbursed)
    2. The expense must be directly related to earning your income
    3. You must have a record to prove it

How to track the progress of your tax return?

The quickest and easiest way to check the progress of your tax return is by using ATO self-help services. You can check using the following methods:

    • Online using myGov
    • Using the ATO app
    • By phone
    • With Us

Online using myGov

If you connect your myGov account to the ATO, you can monitor the progress of your tax return or corrections through your myGov account. To check the progress of your tax return, follow the instructions below:

    1. Sign in to myGov
    2. Select ATO from your Member Services
    3. From the Home Page select Manage Tax Returns
    4. Then, select the income year you are checking

If you don’t have a myGov account, it’s easy to create an account and link it to the ATO.

Using the ATO app
To check the progress of your tax return in the ATO app, follow the instructions below:

    1. Login to the ATO app
    2. Select your tax return for the financial year

By phone
To use ATO’s self-help phone service at any time, follow the guide below:

    1. Phone 13 28 65 (Make sure to have your tax file number handy)
    2. Choose option 1 and then option 1

Check with Us
You or your Profit First Accounting agent can check the progress of your tax return anytime by signing in to ATO online services through myGov or the ATO app.

When will I get my refund?

Most electronically lodged tax returns are processed within two weeks. ATO processes paper tax returns manually and this can take up to 10 weeks. If you’ve received notification that your refund has been processed, remember your refund may take up to five business days to be in your nominated bank account, depending on your financial institution.

More Flexible Appointments Than Ever Before!

Here’s what’s new and improved!

Email Tax Returns
We can now process your tax returns via email. Do you need more idea about how it works? All you have to do is send us an email at admin@profit1st.com.au and we will respond with a checklist to get started. Pretty easy? Yes. Because all correspondence will be via email. With your busy schedule, you really do not have to allocate a certain time to do it. You can complete the tax checklist given to you whenever you are free!!!

Zoom Tax Returns
What is more satisfying than completing your tax returns in the comfort of your own home on the couch? We know how busy you are on a daily basis. Whether you are in the office, at home, or on a business trip, Zoom appointments take the stress and travel out of it. Book an appointment with us NOW!

Face to Face
If you are someone who prefers a face-to-face interaction to complete your tax return, no need to worry. We have got you covered! Just send us an email at admin@profit1st.com.au or call us at 03 5979 2671 to book you a face-to-face appointment with the best accountants here at Profit First Accounting!

Tax Parties
Are you looking for an excuse to catch up with some friends and get your Tax Return done at some time in the privacy of your own home? Invite 5 or more people over for a glass of bubbles and let us do the rest! Email us now at admin@profit1st.com.au to reserve your spot.

Workplaces
At Profit First Accounting, productivity and efficiency in your workplace is a must. Support your team and offer them the chance to have a team of accountants comes to them this tax season. Contact us now for more details!

Tax Season has just started! Let’s get you prepared and leave all the work to us!

Local businesswoman named as a finalist for National Awards

Vanessa Fiducia of Profit First Accounting has been named as a finalist for the 2021 AusMumpreneur Awards in the Financial Services Business category. 

The AusMumpreneur Awards presented by The Women’s Business School celebrate and recognize Australian Mums in business achieving outstanding success in areas such as business excellence, product development, customer service and digital innovation. The awards are designed to recognize the growing number of women who successfully balance motherhood and business in a way that suits their life and family.  

Vanessa Fiducia is the mum of 2 amazing young children and the Founder/CEO of Profit First Accounting. She is Certified in Fix This Next and Profit First Methodologies.   

The business started when Vanessa was trying to juggle the work-life balance of working a part-time job and owning a small bookkeeping practice.  

Vanessa and her team have grown the business in the last 3 years to a client base of over 400 and are all so passionate about helping their clients create profitable businesses from day 1. 

She¬†was inspired to start her business because she knew there had to be a better way. She was seeing the same struggles from all business owners.¬†She¬†had read Mikes book ‚ÄúProfit First‚ÄĚ which she was already following in her personal life and the penny dropped.¬†¬†

She can educate and empower business owners and entrepreneurs to understand the figures in a way that can drive their business forward in a positive way while making profits and paying themselves what they are worth. Not looking at the business in the review mirror.  

Vanessa Fiducia¬†is delighted to be named as a finalist and is proud of her achievements, particularly¬†being a co-author in ‚ÄúBACK YOURSELF‚ÄĚ,¬†finishing work in time for school pick up each day and having every Friday off as¬†RnR¬†and taking some much needed me time. All of this without her business struggling,¬†her business¬†has¬†still had growth and¬†is¬†working with the clients¬†they¬†choose.¬†¬†

There are many benefits to balancing business and motherhood as¬†Vanessa Fiducia¬†explains, ‚ÄúI am now able to educate other women and mums through the work I do with them to better support their families all while doing the work I love. I have also implemented a 4-day work week in our¬†office,¬†so we all get Fridays with our families which is¬†especially important¬†to me and to our team.‚ÄĚ.¬†

It can be challenging to be a successful businesswoman whilst raising a family and Vanessa Fiducia gives this advice for others thinking about starting their own enterprise. “I would advise someone thinking about starting a business for the first time to lean in, go full out and enjoy the waves of the business journey. Your mindset is one of the most important things when running a business. Always remember, you know what you know, you know what you don’t know BUT you don’t know what you don’t know. Be open to learning. Work smarter not harder.  

Read more at www.ausmumpreneur.com. The winners of the 2021 AusMumpreneur Awards will be announced at an online event in September. 

For more information on the AusMumpreneur Awards visit: www.ausmumpreneur.com or contact awards@ausmumpreneur.com 

For an interview with Vanessa Fiducia, contact 0433 063 159, www.profit1st.com.au and vanessa@profit1st.com.au 

 

The PM thanks the Payroll Community

Thank you to our amazing Team for all the hard work they have put in over the past few months! It’s been a lot of learning for all of us. I know that our clients are very greatful and it’s very nice our PM has recognised all the hard work.

We were honoured to have the PM address TAPS members at our Year-End Seminar. This is an important message for the whole payroll community. Thank you to all.

Finalist in this Year’s AusMumpreneur Awards

We are excited to announce that our very own CEO/Co-Founder Vanessa Fiducia has been selected as a finalist in this year’s Aus Mumpreneur awards!

Aus Mumpreneur is Australia’s #1 Community for Mumpreneurs. Mums that are creating freedom, flexibility, family time, success and money for themselves and their families. The AusMumpreneur Awards are all about supporting Australian mums in business, challenging the stereotypes and raising awareness about the contributions made by women with young children to the Australian economy. The AusMumpreneur Awards are nationally recognised awards that have been running for the past 10 years.

Vanessa is a finalist in the following categories for the People’s Choice Awards:
‚≠źMaking a Difference – Business
‚≠źCustomer Service

We would really appreciate it if you take no more than 2 minutes of your time to vote for Vanessa and any other amazing mum’s here:

Vanessa would personally like to thank each and every one of you for your ongoing support and encouragement!

We Have Moved

Our main office is now located at 2/24 Silkwood Rise, Carrum Downs VIC 3201. We will be opening Monday 11th of May but will only be available by Zoom appointment due to COVID-19 Restrictions.

We can’t wait to share our new space with all of our amazing supporters once the restrictions are lifted!!