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How to choose a tax specialist?
Finding an accountant isn’t too dissimilar to picking any other kind professional, like an attorney or electrician. The solution for most is to look around.
What could an accountant do for you?
Generally, the word ‘accountant’ will make you think of taxes, but what you may not know is that accountants can provide a number of other services.
How an accountant could help with your tax return
An accountant will be able to do your tax return yearly, as long as they’re a certified tax agent. In most cases, you can see their registration on the tax practitioner register online. This kind of accounting service is usually provided by suburban accountants and big accounting agencies with local offices.
Accountants can manage difficult tax problems
If you’re finding that your finances are too complex, it might be a good idea to utilise an accountant to offer you some advice on your tax and accounting.
How to choose an accountant for your business
Most accountants can also help you with your business, too. Having an accountant to keep track of all the needed financial records required by the ATO while you run your business can be a great idea and they can also let you know if you’re making a profit.
To find out more, take a look at the ATO’s record keeping essentials. You may also want to look at your local government business advisory service too, as they may be able to help you to find a nearby business adviser or mentor.
What should you ask your accountant?
If you have a selection of accountants, get in touch with each of them and ask about:
- Specialisation– What types of services do they provide? Do they usually work with individuals in positions as yours? Do they have the experience needed to help with your unique requirements? If they don’t, you might want to look elsewhere for a more specialised service
- Customer service– How fast do they respond to phone calls and emails from clients? How do they communicate; with complicated terms, or in a way that you can understand?
- Fees– How much do they charge, and how often/when?
- Registered– An accountant must be registered to help you complete your tax return. Search on the tax practitioner register.
- Qualified– Do they have proper tertiary credentials and are they a part of a qualified organisation? A few professional bodies are the Certified Practicing Accountants Australia, Institute of Chartered Accountants in Australia and the Institute of Public Accountants. In general, these enforce particular standards on their members and will handle any complaints you have if you’re not satisfied with your accountant.
If an accountant answers all questions and you’re pleased with what they have to say, you’re likely to feel more confident when working with them.
Keep in mind that a good accountant could help you to take full advantage of your income while lessening your tax. Take time to do some research, to ensure you pick an accountant that’s ideal for you.