Useful Bookkeeping tips for Running your Horse Stable Business

When it comes to running a business, one of the most important aspects of it is keeping records and accounts of all financial transactions. This is vital for having your account sin order for the end of the financial year, as well as allowing you to identify areas in your business that are doing well, as well as what areas can be improved upon.

Many new businesses tend to neglect this side of the business, waiting instead until the end of the year to try and get all of their information in order for tax season. According to the law, all business owners need to keep their accounts regularly updated and in good order.

The bookkeeping process does not have to be overly difficult or complicated, you can hire a bookkeepers service or utilise some form of accounting software.

Bookkeeping

Here are some additional tips to keep in mind when it comes to dealing with your accounts.

Make sure that all of your tax compliance obligations are in order

When it comes to tax season, you need to ensure that you are fully aware of all the different compliances that you must adhere to. Depending on the revenues of your business, you may need to register for additional types of taxes. If you have employees, you need to be registered for income tax obligations. This is when you pay your staff, but withhold a certain portion of the pay check to go to tax obligations.

Ensure that you keep all receipts

It is required that you keep all receipts for a total of five years in the case of an audit. These receipts can be requested at any time, so ensure that they are well organised. Examples of the sorts of records that you need to keep include all receipts and invoices that were rendered by your business. Record of all the payments you have made to employees and similar organisations.

All of your financial statements, such as profit and loss, as well as your income statement. All credit card and bank statements. Records of stocks and any other aspects of your business that has monetary value.

Utilise effective accounting software

In the not too distant past, all bookkeeping would have to be done by hand using ledgers and spreadsheets. This was a tenuous task that was not for the faint hearted. It could also be easy to make mistakes as there were a lot of calculations that had to be completed by hand. These days, you can purchase sophisticated accounting software that will do the majority of the work for you.

There are so many different types of software [check this list here https://en.wikipedia.org/wiki/List_of_software_categories] on the market that you need to conduct adequate research to see which one suits your specific needs the best. A good way of doing this is to find out what other businesses in your sector use for their bookkeeping. You should always make sure that you have a backup of all …

We all know just how rewarding and liberating SMSF can be if one knows how to make proper use of it. That said, one also needs to have thorough knowledge in investments and needs to know exactly what they’re doing if they really plan on starting a self managed superannuation fund, as ignorance can be rather deadly in this case. On top of that, you also need to have a large sum of money that you can use for your startup as well as have the time and energy to expend on your investment projects. Yes, it’s a lot of work, but trust us, it can be just as worthwhile.

Investing in Ranches

The beauty of SMSF aside from all the control that you have over your money is also the fact that you can invest in whichever property you wish to. A ranch land also happens to fall in that category, as believe it or not, it can be a tremendously worthwhile investment if done right. When we talk about investing in ranch lands, we’re not referring to building a cosy ranch house in a corner of the land with a huge yard as well as a few horses in a stable nearby. No.

What we mean is turning an agricultural land that may not have a lot of crop yield and turning that into a ranch. Now, that would actually be quite a smart thing to do because all that is mainly required is grass for the animals to graze on, and grass would be in ample supply, making it a perfect location for your ranch.

If you’re wondering just how you can gain a profit from investing in such an ambitious project, well, there are 2 different ways. The first way in which you can bring about profits is by leasing the land out in its totality. That way, the person who leases it can, perhaps, depending on the size of the land, decide to turn it into a holiday retreat or maybe even raise several horses in it and turn it into a business of their own that could give horse riding lessons, for instance. However, that will limit the amount of control that you would be able to have over the place as its original owner.

Another way in which you can generate profits is by running the cattle of other people in your land, but at the same time retaining control of both the cattle and the land. Although this allows you to have control over everything that goes on in the ranch, that does, however, significantly decrease the amount of profit that you can get from the ranch land.

Although making a profit is the fastest and the safest through the first method mentioned above, if you would rather have a say in how the ranch is operated, you could also opt for the 2nd method and make a profit at the same time, although it won’t be …

How to Become a Jockey

Becoming a racinghorse jockey is not an easy task or an option open to many. There are many training requirements to be completed and physical limitations as well. However, even though the attention is on the horses during the races, the small jockeys riding up top are crucial to the race. Jockeying is not a skill earned overnight or a conventional sport. There will be many twists and turns in the path to becoming a professional jockey and everyone’s experience will be different. However, there are some things to keep in mind when striving to become a professional racing jockey.

One particular strategy for people interested in jockeying at a young age is to drop out of conventional education. By leaving formal education and entering the equestrian world at a young age, it allows one to have more time and experience caring for and learning about the horses. Many people who have followed this path have started at the bottom and slowly worked their way up to jockey. By showing others that one has mastered all the requirements to jockey at a young age, the likelihood of being selected to jockey is much higher.

How to Become a Jockey

Many people strive to become jockeys every year but only few ever do. One particular way to distinguish one’s self is to always be available. Whether this means volunteering for additional duties throughout the training process or sleeping in or near the racetrack, availability may be the distinguishing characteristic between a jockey-select and one that is rejected. In the end, those who put in the effort to be available have a greater chance of jockeying.

Aspiring jockeys need to keep in mind that learning how to handle horses is built on many trials and errors. Getting rejected may be the first step necessary to becoming a successful jockey. It is important for aspiring jockeys that, in the face of rejection, they continue to pursue opportunities that will make them a more attractive option in the future. Rejection should be seen as motivation to learn more about the art and getting closer with the horses. It should not be viewed as the end of an aspiration.

Once it becomes clear that there is a path awaiting young jockeys, they should begin to formalize their credentials and profile. This includes furthering their education, specifically in horses and applying for obtaining all required licenses and certifications for racing. For many, an agent representing them in legal documents is also an incentive, as this will make them more legitimate in the eyes of future employers. The key to becoming a world-class jockey is to become attached to a trainer. Trainers know the horses better than anyone else and will probably be the one who makes the final decision for the owner regarding jockeys. By becoming close early on, it starts a relationship that may be useful in the future.

Jockeying is an art and should be treated as a very difficult profession. It is highly unconventional but also very …

The Beautiful Life of Horses

Bredracehorses live a very different life from their peers in other agencies or in the wild. From the moment they are born, they are treated like royalty by its owners and caretakers in preparation for the future. Many have compared the treatment of bredracehorses to that of princes and princesses. However, many people are often unaware of the lives of these horses except from the one to two minutes that the horse is racing. There are busy routines, professionals available, and high expectations from the first day. Here are some interesting facts about the beautiful lives of racehorses.

Most show-horses will begin the training period with a professional trainer around three years old. They have a much shorter childhood than humans! However, racehorses are quite busy even before they get there. Many of them will be examined, checked, and possibly sold before they become three years old. By 18 months, the horses will be accustomed to humans and the activities associated with being handled. This crucial stage is known as “breaking in” as the trainers are trying to learn what the personality and quirks of each individual horse is. The process is very similar to school. Many horses are going through “classes” with many other horses their age and are guided by older and more experienced horses. There is also much training focused on building muscle and cardiovascular endurance. When it appears that a horse is ready and able, it will be asked to accept riders in preparation for accepting a future jockey. for related information, click on :http://www.huffingtonpost.com/jack-choros/3-reasons-horse-racing-is_b_9437428.html

In terms of accommodation for the horses, is that they live in “five-star” conditions similar to the best hotels for humans. Horses are well fed, kept, and have the attention of top class professionals. In addition, there is usually one person who looks after them constantly to understand the horses on a deeper level. Many prospective winning racehorses have even had private planes or ships chartered for their ease of transport as well. This is especially true for horsesracing in the world’s most famous competitions.

The Beautiful Life of Horses

The winning horses at such competitions are used for breeding at the end of their racing career. However, the royal treatment does not stop here. In fact, many of these horses are treated even better than they were before in hopes that they will keep a generation of winners going. Also, smaller winning racehorses do not usually get abandoned if they cannot breed anymore. These horses would enjoy a relaxing life of casual leisure riding with its owners or transitioning to equestrian sports.

While the horses spend more of their lives unnoticed by the rest of the world except for two minutes of racing even now and then, they actually are very well treated and cared for. This is not to say that all horses are treated the same and cruelty should be condemned in the racing community. It is a cycle that has been repeating for generations in hopes to produce more winners …