End of Year Tax
Your trading entities’ 2016 Financials and Income Tax Returns should now be ready for processing. If you’re finding yourself feeling anxious and dreading the annual visit to the accountant, you may need to take a second look at your relationship and the services provided by your accountant. The following is a short list of factors that should be taken into consideration when choosing an accountant to process your financial data:
Do you have a Fixed Price Quote?
When building your house, you always ask the builder for a fixed-price contract. The same should apply to your accountant. You should be able to fix the price of your end of year Financials and Income Tax Returns. This means there’s no big surprise when it comes to your bill!
Has your accountant contacted you to arrange an appointment to overview your data and your current situation? Or is your accountant holding events to talk to about the need to review your position? You really need to have a proactive accountant that comes to you first. Even before doing your end of year return, they should have been asking you to prepare a budget or a forecast for 2017 Financial Year. You need to think to yourself: “If I am constantly going to my accountant for advice, what is being missed?”
While completing your work, has your accountant offered any other services? After an analysis of your results, a professional accountant should be able to determine if there are any expenses that may be able to be reviewed or reduced. They should also have access to strategic alliances in the financial industry that may help you and your business.
These are just a few key points that should be considered if you are about to take your work to your accountant for completion. You shouldn’t settle for an accountant who will “get the job done” – you should be with an enthusiastic accountant who meets your needs and expectations. There are plenty of accountants in the sea and it is not too hard to change over to different provider.