Jim Ulrich - Principal

Chartered Accountant - Tax & Business Specialist

Secondary Education: Brisbane Grammar School  
Tertiary Education : Queensland University of Technology
Qualifications: Bachelor of Business (Accounting).
Professional Memberships:

• Chartered Accountant
• CPA Australia
• Registered Tax Agent
• Public Practising Certificate
• SMSF Auditor

Jim Ulrich is the Principal of the firm and before joining the public accounting sector he commenced his career as a junior accountant with a large corporation. In 1990 he joined a small accounting firm in Malvern.  This became the stepping stone to gain extensive experience in 4 different accounting practices before finally venturing out as a sole practitioner and commenced operations in Blackburn in the eastern suburbs of Melbourne.

He understands that running a business can be “challenging and frustrating” and from the outset he had the ambition to be different. His passion for small business is contagious and Jim says,

“Most accounting firms simply process your accounts to get a Profit & loss and Balance sheet – this is all necessary … but it doesn’t improve your business knowing the profit 3 or 6 months after the event.  If you want to improve a business, you have to firstly understanding the what you want to achieve and only this way can you formulate strategies to grow the business.  In other words you have to have a goal."

Jim understands the entrepreneur's challenge of converting dreams into real profit. He emphasises that you must have solid foundations and goals if you want your business to grow.

These dreams ideas must firstly be formulated with the correct business structure (for asset protection) followed by the correct software (to maintain control and minimize compliance costs). And most importantly an understanding of the 7 ways to recession proof a business.

Jim’s clear line of sight with his clients is to formulate solutions to their business problems, tax and financial matters.  The main benefit of this is to prevent disasters and capitalise on opportunities.

“Our main goal is to be truly understand our clients’ businesses and plan for issues and opportunities their specific industry issues.  This is a true and tested formulate for wealth creation” you have to live eat and breath a business to truly understand businesses."

As Jim says,

“Most our clients seek us out to assist them with solutions to their tax liabilities, cashflow problems, management accounting, and succession planning.  We are able to talk to them in a language our clients understand.

We are really focused on helping business owners understand their Profit & Loss Statements and Balance Sheets, improve these results and helping and showing them how to spend more time working IN their business and not working ON their business.”

Jim is focused on giving business owners a competitive edge and put them out in front.  Who wants to be second or third best? His marketing thoughts and expertise are a serious point of difference compared to other general accountants. He is fully hands on in relation to getting involved clients’ branding, websites, SEO, niche market strategies and social media presence.

His persistence to assist and work with clients and his capacity to inspire positive change is what makes Jim different from other accountants. 

Over the many years Jim has personally guided and mentored hundreds of business start ups and Jim and his team developed the 'Business Accelerator Process' to specifically help drive and steer new business owners so as to fast track their success.

Jim mainly focuses all his efforts on helping business owners increase their revenue, profits, business value and most importantly wealth. 

“The most important part of running a business is to have goals - without goals you are directionless. Once you have the goals set in place then you can implement focused and clear strategies. This, by definition, sets the disciple required to make a business successful.  Next is to implement the strategies. The business that are the most successful have systems and discipline”.  

He’s adopts an “all encompassing” approach together with his ability and determination to be hands-on so as to achieve the outcomes best suited for his clients is a real point of difference.

Jim constantly focuses on clients achieving wealth by using and having the most appropriate tax effective strategies like negative gearing and superannuation.  This is clearly illustrated as a large majority of his clients own an investment property or have a self managed superannuation fund.

Jim has a real strong interest with the local business community and invests heavily in professional development to maintain his team's knowledge and latest updates of tax law. 

He has a natural capacity to phrase technical tax issues in easily understandable and practical language and this has resulted in significant practice growth. Adding to that, his passion has seen the practice develop niche areas of expertise including the trades, business start ups, hospitality, negative gearing, musicians and artists plus self managed superannuation funds. You are able to read about these niches in the 'industries we serve' section of this website.

Experience and Specialties

Jim has specialist skills include all technical aspects of tax planning, business structures, consulting and business planning. 

He is extremely focused about the success of his clients and specialises in succession planning, asset protection, cash flow management and business analysis. His 20 years experience in public accounting provides Jim with a deep understanding of the compliance and taxation needs of clients in the small business sector.

His professional qualifications and memberships include:

• CPA Australia
• Chartered accountants of Australia
• Bachelor of Business (Accounting)
• Registered Tax Agent
• Public Practising Certificate
• SMSF Auditor

Outside Interests

Outside the office Jim is a keen runner and cyclist.  He is also a mad keen dog owner and has put many hours in training his beloved Kelpie “JAZ.”

He is a passionate Richmond (He asks you don’t hold that against him) supporter and absolutely loves restaurant crawling so “he doesn’t need to cook.”

His main quirkiness is reading for most people is focusing on books and the like whereas Jim has the unusual passion of curling up with a few dozen Annual reports to read.

Jim and his wife enjoy travelling, live music, gardening and spending time with family and friends.

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JTU Accounting Group - Accountants Who Think Outside the Box