m+a Accounting & Consultancy

How to Quickly Find a Top Tax Consulting Company in Australia

Companies avail the services of tax consultants for their business to move forward. Tax consultants are people who are experts in a variety of tax-related concerns. If you have one in your business, you know it is going in the right direction so that your investment won’t go to waste.

How do you know which tax consulting firm is right for your business? What should you be looking out for when seeking tax expert advice?

The right tax consultant will help make sure your needs are met. This article discusses things to consider when hiring one.

How Do I Find the Best Tax Consultants in Australia?

You can only find the best tax consultants for your business when you trim down your criteria. Take note of the following factors when looking for accounting consulting companies.

• Generalist Versus a Specialist Firm

The business’s needs could dictate which type of consultancy firm you should enlist. Specialists have a depth of knowledge on a specific area, and it will fit your business if you need specialists that will go about, let’s say, tax consulting. 

A specialist consulting firm though ‘generally’ has a scope of services, they still stand out in what they focus on. In fact, specialists have focalised in-depth knowledge and skills and spent years accumulating such skills on the latest practices of their field of expertise. A generalist, on the other hand, offers holistic services and is more keen on navigating diverse work processes. Plus, their flexibility of skills can help fill the gap of what’s missing in your business.

• Type of Business You Have

The tax consulting firm you will hire should be able to understand your business or services offered. What do you need in particular? Do you lack accountants to take care of payroll and books? How about tax accounting?

Having these questions in mind will help you scout for large or small tax consulting firms in Australia. For example, accounting consulting companies like us at Malkoun & Associates can offer a wide range of services that cover auditing, tax consulting or business structuring.

A consulting company that has solved many problems may find it easier to identify and solve your business challenges. They are also likely to do that, with their experience at hand from years of solving similar issues for other companies like yours.

• Rate Against Performance

Why do you hire tax consultants in the first place? Is it because you lack manpower? Or do you lack skilled people to do the work?

One of the basic reasons for outsourcing the services of tax consultants is to reduce costs, such as hiring new people to facilitate demanding jobs. It only makes sense to calculate your expenses if it is more cost-efficient if you hire a firm that will solve a particular area in your business. 

Professional tax consulting firms either charge per hour, per day or ask for a retainer’s fee. It depends on how you weigh these costs if you think that the money you spend on them wouldn’t empty your resources against what the firm can do for you. There are also tax consultants whose work is highly efficient that in less than a time your problem is solved, even if they charge high.

• Track Record of Success

It is important to ask about the tax consultant’s past projects and how they were successful. Some consultants may be great at pitching but have no track record of success with similar issues or companies your size beforehand. This could lead to an unhappy customer experience.

When it comes the time for you to find the perfect consulting firm, ask around. Or make a Google search, ask friends, referrals, friends of friends. Sometimes, referral works because people have worked with actual tax consulting firms, and they can share negative or positive feedback. Also, actual client references will help ensure that their work speaks volumes and that they can tackle any issue with ease.

How Malkoun & Associates Can Help You

If your business is geared towards big goals, you will be looking for top tax consulting firms in Australia. This will help you increase your investment significantly and that your platform and programs are well aligned to your goals.

At Malkoun & Associates, we have a strong portfolio and great background. We can provide you with a wide range of consulting services, specifically accounting and tax.

If you’d like to know more of our services, contact us or send your enquiries here.