Professional Help for Businesses Impacted by Covid-19
Are you Experiencing Cash Flow Problems?
Do you need Professional Help and Support?
Do you Want to Turnaround your Business?
Let IBBZ Accounting help you. We have many years of experience and professional knowledge. We have been providing professional help to New Zealand Businesses for over 10 years.
IBBZ Accounting are tax specialists and highly experienced team of great accountants. Our team of accountants always keep your best interest forward. There are many steps we can take to overcome the problems/challenges faced by your business due to Covid-19.
Government Help and Support:
There are many support packages and tax reforms to help you navigate through the situation of Covid-19. We will help you to understand which options are better for you. Many tax rules have been changed, we will help you understand which option works best for you. We regularly publish latest tax updates under "article" section and on taxaccountant.kiwi.nz
Business Plan/Cash Flow Reporting:
We will help you and work with you to identify new opportunities and update your business model. We need to recognise your strength and perhaps re channel them to open new opportunities. If you require further funding from the financial institution, we will help you to obtain this. The key is start measuring and start achieving. We will help you setup bench marking, for example sale to wage ratio to be less than 40% then we will work through with you to obtain this.
We will have to take some bold steps such as eliminate certain business processes. Outsource few things or re-strengthen your existing strengths. What ever the case may be you can count on your extensive experience and valuable New Zealand market knowledge. Our customer reviews are excellent and customer service rate is 98%.(source Google Reviews and Survey completed by Survey Monkey in May 2020)
Asset Protection and Financial Planning:
We have seen even the highly intellectual people have done nothing for financial planning. Counting on kiwi saver is not sufficient. Your retirement/financial plan have to be specific for you to cater your specific needs. Have a confidential discussion with us so that we can guide you in the right direction.
Below are some examples:
Turn Around Family Owned Small Business:
Rob is a great kiwi builder earning about $15k a week but he was always into cash flow problems. Never have enough money in his bank account. We worked with him and identified his labour only contracts were just sufficient to pay for the wages leaving very little for the overheads. Thus, he was always running into cash flow problems. We worked with him to have his website up and running so that he could expand the pool of his customers. We asked him to obtain higher rates for his services. With renegotiated new labour only contract rates and couple of full build contracts changed his business model. Rob is now running a profitable company. Now we are working with him to have a sound business model in place. We have also ensured his assets are protected through family trust and retirement plan has been setup.
Financial Guidance for Working Professional:
Tom is working as a manager at well known NZ company. His family income is over $200k but they have done nothing in terms of retirement planning. They only investments they have is their family home and kiwi saver. We worked with them to setup a family trust and the gradually helped them to invest their money using financial principles such as diversification etc. Currently, he is retired and getting passive income of $50k a year.
Financial Planning and Tax Advice for Family Trust:
Maggie and John are retired couple with falling interest on term deposit they need to invest their money into somewhere else. With ever changing financial products they needed someone independent to do their books and provide professional help and help them to do their financial planning. We provided independent financial advice and specialist tax advice when dealing with international tax jurisdictions.
We have a 3 step process:
1. Study your case and do investigation to understand your business and personal finances;
2. Scope the work which includes identifying your needs;
3. Solve your problem after careful analysis of your financial position.
Testimonials from our clients
For full list of testimonial refer Testimonials
For Google Reviews click here Google Reviews
"Very pleasant, Generally easy to deal with. Explained process well, making things run smoothly. Great outcome!! Would recommend to any business"
"The IBBZ Team handled discussions with IRD on our tax matters superbly. Their initial estimates of results were delivered efficiently, and with a minimum fuss. Furthermore, their advice on the various ratios and indicators for the business will be invaluable for future planning for success."
"I had a long term problem with IRD due to mistake in one of my tax returns, which I had not been able to resolve for a long time. Good thing I was able to find IBBZ and they responded to my request for assistance regarding my problem. Ravi has been wonderful in handling my case and resolved my problem very successfully. Thank you, Ravi and IBBZ. Glad to have reached out to you."
"I am very pleased with the end result RE- negotiating on my behalf with IRD. Thanks Sandy."
“I approached IBBZ mid 2015 for dealing with an intransigent IRD department looking to bankrupt me. They dealt with IRD and mentored me through legal and financial dealings. I avoided bankruptcy saved the business and received a large refund. I recommend IBBZ ”
“I discovered that I had a tax liability going back five years as a result of incorrectly assuming my tax obligation relating to company share allocations (from a global multinational). Upon discovering that I had not been handling the shares correctly, I contacted Saurav (from a google search) who promptly assessed my situation and took me through what my obligations were and what was required to self declare my overdue tax liabilities to the IRD and bring my account up to date. Saurav submitted the correct tax returns going back to 2011 and the overdue tax obligation was fully paid, however I was hit with overdue penalties and interest totalling approx $11,000. Saurav negotiated on my behalf with the IRD and was able to have the total amount amount remitted;with no penalties or interest being payable.”
"Saurav and Sandy have been so awesome with helping our business and myself get out of debt. If it was not for them, we don't know we would have gotten this far and out of debt without them, and we are forever grateful to them."
“IBBZ worked for a year on my behalf to negotiate a settlement with the IRD that I was happy with and, importantly, could afford. I always felt they acted in my best interest and gave me honest feedback and advice. Their knowledge and expertise were a welcome comfort in what was a stressful time for myself and my family. I have no hesitation in recommending them to others in the same situation.”
"IBBZ have always answered any questions I have had. Very pleasant to deal with. The outcome RE the AutoXXXX Ltd tax debt is very pleasing and I am extremely happy with this."
“I was about to have divorce with my wife as I was going to lose our family home in lieu of payment of taxes. IBBZ saved me, I will be very grateful to Sandy for the rest of my life”
"I am a Taxi Driver, Sandy and Saurav assisted me in filing over five years of tax returns and negotiated very good payment plan for me to repay my taxes. I was under a serious depression and just because of IBBZ team I am living very happy life now. I will highly recommend IBBZ to you if you are filling burden of overdue tax.”
“Due to cashflow problems, I was left behind in payment of taxes, and that was the end of my business. I was about to be declared bankrupt but IBBZ helped me to seek hardship relief where majority of my tax disappeared.”
Get in touch with us today for a confidential discussion.