The Bucket List Accountant

The recent budget has sent shockwaves through the small business community, not just because of the numbers, but because of the way it was delivered. After years of relative consistency, business owners and investors were hit with significant changes to trusts, capital gains, and negative gearing with almost no warning. This lack of transparency has led many to question whether the risk of running a business is still worth the reward.

In this episode, I explore the psychological and financial fallout of these sudden shifts. We look at why the erosion of confidence is the biggest threat to the economy and how business owners can regain their footing. It is a conversation about staying calm in the face of uncertainty and finding the opportunities that still exist within a changing playing field.

Whether you are feeling the pinch of new superannuation rules or worrying about the future of your family trust, this discussion provides a roadmap for navigating the next two years. We break down why mindset is just as important as the balance sheet when the government decides to change the rules overnight.

What You Will Learn:

• Why was the secrecy surrounding this budget so unusual compared to previous years?

• How do sudden changes to trust taxation impact long-term wealth creation strategies?

• What is the best way to handle the anxiety of potential future rule changes?

• Why is cashflow monitoring becoming even more critical for small businesses right now?

• How can you determine if it is time to bring your business sale forward?

• Why does loving your business make you more resilient to legislative shifts?

Key Takeaways:

• Avoid knee-jerk reactions: We have a window of time before many changes take effect, so use it to analyse rather than panic.

• Confidence erosion: The way the budget was handled has made business owners question the long-term stability of the rules.

• Focus on core strengths: A profitable and cashflow-positive business can be adapted to almost any tax environment.

• Strategic timing: The new rules might provide a prompt for those near retirement to consider selling sooner rather than later.

• Mindset matters: Maintaining enthusiasm for growth is difficult but essential for navigating economic ups and downs.

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#SmallBusinessAustralia #AusBudget #TaxStrategy #BusinessConfidence #BucketListAccountant #FinancialPlanning

#EntrepreneurMindset #WealthCreation

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

As the end of the financial year approaches, the pressure to spend money for the sake of tax deductions can be

overwhelming. We are bombarded with advertisements promising massive savings if we buy now, but does spending a

dollar to save forty cents actually make sense for your bottom line? In this episode, I break down why the traditional

approach to tax time might be costing you more than you realise.

We explore the difference between spending for the sake of it and making strategic investments that move your business

forward. From the traps of luxury car purchases to the benefits of investing in your team, this conversation is about shifting

your mindset from tax-driven to growth-driven. It is about making sure that every dollar you spend is a step toward your

bucket list goals, not just a way to lower a tax bill.

What You Will Learn:

• Why spending money solely to save tax is often a losing financial strategy

• How to use the June 30 deadline as an impetus for genuine business growth

• What are the common pitfalls of luxury vehicle purchases at tax time

• Why bringing forward planned investments can give you a three month head start

• How to avoid making rash decisions on the 28th of June that you will later regret

• Why team culture investments can be the best use of your end of year budget

Notable Quotes:

• A hundred dollars spent to save thirty-five to forty dollars in tax has never made a lot of sense to me.

• The tax deduction becomes a bonus, an added benefit of doing what you have just done.

• Don't make a decision for a tax deduction, make it to improve your business.

• If you have done the planning, you are less likely to fall prey to the marketing.

Key Takeaways:

• Strategy should always come before tax considerations when making business purchases.

• Use end of year sales to buy items you were already planning to purchase later in the year.

• Be aware of the limits on car deductions to avoid unexpected tax bills.

• Investing in a business coach or team morale can have a higher ROI than physical equipment.

• Effective tax planning is a twelve month process, not a last minute rush in June.

For more tools to help you align your business with your life goals, download our episode workbook at

bucketlistaccountant.com.au or via the link in these show notes.

TaxTime

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

#SmallBusinessGrowth #BucketListAccountant #FinancialStrategy #BusinessPlanning #TaxDeductions #EntrepreneurLife

#WealthCreation

Why do so many business owners feel they have to carry the weight of the world on their own? There is a common

misconception that asking for help is a sign of weakness, yet in the world of professional sport, the highest performers would

never dream of working without a coach. This episode explores the transformative power of surrounding yourself with trusted

advisors who see the forest when you are stuck among the trees.

I share my personal realisation that being an accountant is about far more than just tax and numbers. It is about becoming a

trusted advisor who understands your deepest personal goals and helps you build a business that actually delivers them. We

unpack how to move from a generalist mindset to building an arsenal of experts who can help you tick off every item on your

bucket list.

What You Will Learn:

• Why the pride of doing it all yourself is holding your business back

• How a coach or mentor provides the perspective needed to escape the day to day grind

• What it means to move from a tax agent relationship to a trusted advisor partnership

• Why your bucket list should be the primary driver of your business strategy

• How to build a network of experts that covers everything from health to travel

• What to look for when interviewing a potential business coach or mentor

Notable Quotes:

• It is less about asking for help and it is more about getting guidance.

• You cannot be good at all those areas, so do not be afraid to reach out in the areas that are not your area of expertise.

• The bucket list is nothing without you being able to actually achieve the bucket list.

• Sometimes the vibe is just not there, and it is okay to change who you are dealing with to stay aligned.

Key Takeaways:

• Professional athletes use coaches to maximise their potential, and business owners should do the same.

• A trusted advisor brings a wealth of experience from different industries that you can adapt to your own business.

• Your personal goals and bucket list must be linked to your business budget and planning.

• Building a circle of trusted experts makes achieving large goals, like a three month trip to Europe, much more

manageable.

• It is essential to review your professional relationships regularly to ensure they still serve your evolving needs.

For more resources on aligning your business with your life goals, download our episode workbook at

bucketlistaccountant.com.au or via the link in these show notes.

bucketlist

#businesscoaching #trustedadvisor #accountant #mentorship #businessgrowth #lifestyleplanning #entrepreneurship

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

Most business owners are running a race without a finish line. They take on every client, chase every lead, and manage

every fire, only to realise they are further away from their personal dreams than when they started. This episode uncovers

how to stop the cycle of reactive business management and start engineering a business that actually funds your bucket list.

David Patterson breaks down the psychological and practical barriers that keep entrepreneurs stuck in the grind. From the

paralysing effects of FOMO to the difficulty of having honest conversations with team members, we explore how to align

your professional vehicle with your personal destination. It is about moving beyond the balance sheet to create a life of

purpose and fulfilment.

What You Will Learn:

• Why saying no to lucrative opportunities is often the best move for your long term growth

• How to use quarterly planning to reverse engineer your personal bucket list into business milestones

• What steps to take when a team member's values no longer align with your business vision

• Why the fear of missing out is the biggest threat to your lifestyle business

• How to facilitate daunting but necessary conversations with your staff about your dreams

Notable Quotes:

• There is nothing wrong with passing up on opportunities that do not fit in with what you are trying to achieve.

• The more you can involve your team in what your business goals are, the better chance you have got of achieving them.

• Your business should be the vehicle for your ultimate lifestyle.

• Tough decisions are easier to make if you have a clear understanding of why you are making them.

Key Takeaways:

• Business and personal goals are inextricably linked and must be planned together

• Quarterly reviews aligned with your BAS are the perfect time to check your progress toward bucket list items

• A cohesive team requires total transparency regarding the owner's vision and values

• Engineering a business is not a straight line, but a clear goal makes the downs easier to navigate

Download the episode workbook at bucketlistaccountant.com.au or via the link in these show notes to start your engineering

process.

BucketListAccountant

#BusinessEngineering #LifestyleBusiness #Entrepreneurship #StrategicPlanning #WorkLifeBalance #FinancialFreedom

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

In this episode, David Patterson walks through the five essential conversations every business owner needs to have — not just with their accountant, but with themselves, their family, and the people who matter most. These aren't just financial conversations; they're life conversations that lay the foundation for building a business that truly serves the life you want to live.

David shares why most business owners drift through their working lives without ever articulating what they actually want, and how simply writing down your goals gives them a life of their own. From aligning family goals to planning a business exit that isn't defined by the word "retirement," this episode offers a powerful framework for living and working with purpose and intention.

What You'll Learn: • Why getting your personal goals out of your head and onto paper changes everything • How to align your goals with your family's goals so the business works for everyone • Why money conversations are easier when everyone understands the purpose behind them • How to build your business to be exit-ready from the earliest stages • Why replacing "retirement" with "the next phase of life" leads to better planning and fewer regrets

Connect with The Bucket List Accountant:

David Patterson on LinkedIn: https://www.linkedin.com/in/bucketlistaccountant/

Website: https://www.bucketlistaccountant.com.au/ Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: Podcasts Done for You

Hashtags: #BucketList #BusinessOwners #FinancialPlanning #ExitStrategy #LifeGoals #SmallBusiness #NoRegrets

In this episode, David Patterson tackles the most common complaint in the business world: the feeling of never having

enough time. He challenges the idea that being flat out is a sign of success and instead explores how it often indicates a

failure to value our own time correctly. David shares his personal journey from a solo operator doing everything to a business

owner who prioritises lifestyle and delegation.

We dive into the practical steps of buying back your time, featuring a powerful story of a client who transformed their life from

being a stressed, overworked single parent to enjoying a four-day work week and laptop-free holidays. David explains why

having a written bucket list is actually a vital business tool that helps you stay focussed on what truly matters.

What You'll Learn:

- Why do we use being busy as a badge of honour and how is it holding you back?

- What is the true opportunity cost of doing 20 dollar an hour tasks yourself?

- How can you transition from a five-day to a four-day work week using a 12-month plan?

- What specific steps can you take to ensure you can actually leave your laptop at home on your next holiday?

- Why is having a written bucket list essential for effective delegation in your business?

Notable Quotes:

- Everyone has the same 24 hours in a day as Richard Branson, so what is the difference between you and the people who

seem relaxed and successful?

- If you are doing a task that is the equivalent of 20 dollars an hour, you are losing your opportunity cost of 500 or 700 dollars

an hour.

- Not having enough time indicates that you are missing out on something. Unless you know what that is, you will continually

say you do not have enough time.

- Whilst a task has to be done, it does not have to be done by you.

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

Hashtags:

TimeManagement #BucketList #BusinessOwners #WorkLifeBalance #Delegation #FinancialFreedom #SmallBusinessAdvice

In this episode, David Patterson tackles the difficult realisation many entrepreneurs face: their business has become a glorified job that leaves no room for a personal life. David explores the telltale signs that a business is running the owner instead of the other way around, from working midnight hours on admin to only taking holidays when the industry dictates.

Through personal stories of clients at a crossroads, David explains the difference between building a scalable asset and creating a high-pressure burden. Whether you are chest-deep in debt or simply feeling the weight of being the sole bottleneck in your operations, this conversation offers a roadmap to take a step back and move forward with purpose.

What You'll Learn:

- How to apply the one-week test to see if you truly own a business or just a job.

- Why choosing holiday dates based on business lulls is a sign the business is ruling you.

- The critical questions to ask if you are missing out on family time and considering an exit.

- Why scaling to millions in turnover isn't always the right answer for your bucket list.

- Practical steps for clearing overwhelming debt by focusing on one small win at a time.

Notable Quotes:

- If you stop showing up to your business tomorrow and it can't carry on, then it's running you.

- Taking holidays should be done when you want to, not when you're thinking you can squeeze it in.

- There is nothing wrong with having a go at running your own business and then realising it is just not for you.

- A 20-million-dollar turnover business does not necessarily mean a successful business.

Dowload a workbook from this episode HERE with key things you need to be asking yourself, key quotes from the episode and action steps to set you on the path to making your Bucket List and then ticking them off.

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

Hashtags:

#BusinessOwner #FinancialFreedom #WorkLifeBalance #BucketList #SmallBusinessTips #Entrepreneurship

Learn how to avoid the end of financial year chaos with year-round planning strategies that improve business performance while minimizing tax obligations

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

Learn practical strategies to navigate economic shifts, understand your personal finances, and maintain your bucket list dreams despite financial uncertainty.

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'

In this episode, David shares his recent bucket list adventure to the Head of the Bight in South Australia, where he and his wife Tammy experienced the magnificent southern right whales in their natural nursery. This wasn't just a holiday—it was the fulfilment of a long-held bucket list dream that required careful planning, financial preparation, and a commitment to fully disconnecting from work.

David reveals:

• How to financially prepare for significant bucket list adventures without stress
• Why the journey itself is just as important as the destination
• Practical strategies for disconnecting from work to fully enjoy your experiences
• The importance of budgeting for unexpected opportunities during your adventures

"It was important that we broke that trip up as much as possible... finding destinations along the way that had points of interest for us was important."

"I've made that conscious decision to enjoy my holidays and my breaks. I've found it a lot easier to switch off and then when I get back, just switch back on again."

"We had a really good idea of how much the trip was going to cost... and then to have money aside for unexpected things that popped up along the way."

#BucketListAccountant #WhaleWatching #BucketListTravel #FinancialPlanning #TravelPlanning #WorkLifeBalance #AdventureTravel

Key Moments

00:40 David's Whale Watching Experience

03:16 Planning the Journey

08:00 Switching Off and Enjoying the Holiday

11:58 Financial Planning for Bucket List Trips

17:43 Reflecting on the Experience

19:12 Conclusion

Contact details:

David Patterson on LinkedIn

The Bucketlist Accountant: Because financial freedom shouldn't mean sacrificing your wildest dreams.

Subscribe now and get ready to take control of your money and your life!

Co-host: Anthony Perl

Produced by: 'Podcasts Done for You'