According to recent statistics, 74% of people prefer to use the services of an accountant or tax advisor to complete their tax returns. It’s easy to see why so many BAS agent in Australia prefer to file their tax returns through an accountant like H&R Block, as it’s less stressful, more accurate and gives them the best return.
Tips for Tax and Accountant Consultant
- To be honest, tax is a complex business, even for those of us who are not accountants.
- That’s why many people leave it to the experts to get the most out of it.
- Unless you are an expert in business deductions, it can be difficult to understand all the deductions you can claim.
- Accountants and tax consultants are trained to prepare your tax return quickly and accurately.
- In addition, the fees charged by your accountant or tax professional are tax-deductible, so they pay for themselves.
How Many Ways to return Your Tax?
- There are many online tools to help you prepare your tax return yourself, but nothing is more convenient than hiring a tax accountant to do it for you.
- Doing it yourself may seem like the fastest way, but it’s not always the best way. A meeting with a tax advisor usually lasts about an hour.
- During this time, your tax advisor will ask you a series of questions and review your documents to ensure the best possible outcome.
- At first glance, it may seem like e-filing is faster, but for most people, that’s not the case.
- Add to that the time it takes to gather information, find discounts and check for errors, and it can take an hour or more.
- For this reason, it is important to come to your appointment well prepared.
- This tax return checklist contains all the documents you will need to prepare your tax return quickly and accurately.
BAS tax agent or accountant
- If you complete your own tax return, you are solely responsible for it.
- If the Australian Taxation Office (ATO) knocks on your door, no matter how innocent or slight your mistake, you can be audited by the ATO and be subject to penalties, interest and fines.
- The main advantage of using a tax advisor is that you don’t have to worry about it.
- If you choose to file through a BAS tax agent or accountant, you can be sure that you are complying with tax laws and that your return has been properly prepared.
- When you file your tax return with H&R Block, we’re not just there for you during tax season.
- If you need advice, we are available 365 days a year. Whether it’s a wedding, starting a new business, or getting behind on your taxes.
- By contacting a tax accountant directly, you will not only get good advice, but you will also save time.
- If you file your tax return with the help of an accountant, the normal October 31 deadline (which applies to people who file their own tax return) does not apply.
- If you use an intermediary, you may be able to complete your tax return by next May.
Value of the relationship
- If you are a salaried Australian, you are not tax-exempt.
- Tax can be a complex and sensitive issue, so it is important to develop a relationship with a tax advisor.
- By the time you file your tax return, your tax advisor will already have a good understanding of your financial situation and will be able to give you personalized tax advice to help you make the most of your money.
- As your situation changes, your tax advisor will provide advice and guidance to help you make the most of your financial situation and get what you are entitled to.
As Australia’s largest tax preparer, we’ve learned a lot in our 40 years in business. One thing we’ve learned is that every tax return is unique.
If you are in a difficult financial situation, getting the right advice can save you time, stress and unnecessary payments to the ATO.
Consulting an accountant or tax advisor can be extremely beneficial. They will be able to help you understand the complexities of your financial situation.