A matter of Trust? What are trusts for and how are they used in business structures? What are the pros and cons? You see them a bit, they can be used in the building industry and trades, often set up by an accountant and lawyer. A business owner usually actually knows what they are for - often to help protect the family home and so on - but they don't know how to run them or what the traps are. so let's chat through the issues.

Why set up a company? You may have a Pty Ltd company that your accountant has set up and you don't understand. Or you have a business you run under an ABN. Things might have been 'as they are' for quite a while....is any of that wise?

Why is a corporate structure so important? People often say 'isn't that just too complicated and costly'. Sure. some of that may be true too, sometimes, but the costs of getting it wrong can be dire. So listen in to what you need to know about the advantages and risks.

Lots of businesses are pretty small, some grow fast and soon enough the structure of the business and its ownership hasn't kept pace with what's going on. So what are the pros and cons of just having an ABN operating as a Sole Trader? Cheryl shares her experience on some of the pitfalls.

Lots of people think their company or business is worth at least what they borrowed to buy it or set it up (or to keep it going when the trouble signs started appearing). Sadly, that's not often the case. Some people been keep working on the business because the know it won't pay the debts they've incurred along the way. What are the options when there is less money than you need?

Running a business can mean long hours and sacrifice of family time. There can be great rewards despite the risks we've covered in previous episodes, Many of us want to sell out at the end. Can we? What will the business be worth? What would someone pay me to take over?

We've spoken about closing a business down that isn't making money. If it has debts, it most often needs to be put into liquidation. Simple enough to say, tough decision to make. How do you do appoint a liquidator, and what happens. Who do ask for help?

Last year the government gave directors of businesses large and small several months protection from the the consequences of trading while insolvent, We've covered the debts a business might have you can be liable for in other episodes, but now insolvent trading is back in force. What is it, and do people need to worry?

We've looked into some of the things that make you liable for a company's debts like director or personal guarantees. What are some of the others?

Your accountant might have set you up a Pty Ltd company because it can help protect assets like your home from the business if things go wrong. Lots of contracts and leases get around that by making your liable for the company debts. What sorts of guarantees have you made and what happens if they are being chased?

What do you need to know if the ATO doesn't know what you owe!? GST, PAYG and Super. All of them now can snare the director of a Pty Ltd company (operating or not) - especially if the company hasn't lodged its BAS for a while. What has Cheryl seen?