m+a Accounting & Consultancy

Why You Should Consider Hiring an Accountant

When it comes to taxes, most people would rather not do them on their own. This is understandable, as taxes can be incredibly confusing. This is where hiring a tax accountant can be extremely beneficial. Tax accountants are professionals who are specially trained in tax law and know how to properly file your taxes. 

There are plenty of great reasons to hire a tax accountant. They can help you save money, ensure that your taxes are filed correctly and help you understand the tax laws. 

If you are self-employed or have a complex financial situation, then hiring a tax accountant in Sydney is worth it. This is because they can help you maximise your deductions and make sure that you are taking advantage of all the tax breaks that you are entitled to.  

There are several levels of expertise available for all different tax needs. You can hire a general practice accountant who will be able to handle your basic tax needs. If you have a more complex financial situation, then you may need to hire a certified public accountant or a tax attorney. 

 

No matter what your tax needs are, there is a tax accountant Sydney out there who can help you. So if you want to save yourself time and money, then consider hiring a tax accountant today.

Different Types of Tax Accountants

There are four main types of tax accountants: individual, business, corporate and international. Let’s take a look at their specific roles. 

 

Individual Tax Accountant

An individual tax accountant specialises in preparing individual tax returns. They can help you get the most out of your return, as well as if you’re self-employed or have other unique tax situations.

 

• Business Tax Accountant

If you’re running a business or a sole trader, it’s important to have a tax accountant on hand to help you with your taxes. A tax accountant can ensure that you’re paying the correct amount of tax and can also help you claim any deductions or credits that you may be entitled to.

 

• Corporate Tax Accountant

A corporate tax accountant is someone who specialises in taxes for companies or corporations and is responsible for preparing and filing the company’s taxes. This includes ensuring that the company pays the correct amount of taxes and claiming any deductions or credits that the company is eligible for. The corporate tax accountant also works with the financial team to ensure that the company’s financial records are accurate and up to date.

 

• International Tax Accountant

An international tax accountant is responsible for ensuring that an individual or company pays the correct amount of taxes to the appropriate taxing authority. This may include preparing tax returns, calculating taxes owed and advising on tax planning strategies. An international tax accountant may also represent a taxpayer in audits or appeals before the Australian Tax Office or other tax authorities.

 

How to Find the Right Tax Accountant for You

 

If you’re looking for a tax accountant, there are a few things you should keep in mind. 

Firstly, make sure you find an accountant who is knowledgeable and experienced in handling taxes. With the different levels of expertise required when it comes to taxes, you’ll want to make sure you find someone who can handle your specific needs. 

Secondly, avoid any accountant who seems pushy or salesy. You’re looking for someone who is going to help you save money on your taxes, not someone who is trying to sell you something. 

 

Finally, get the most out of your tax accountant by asking questions and being prepared with all the information they need. By following these tips, you can be sure to find the right tax accountant for you.

 

What Are The Qualifications of a Good Tax Accountant?

To find a good tax accountant Sydney, you should consider the following qualifications:

• Certified Public Accountant

A good tax accountant in Sydney should have a degree in accounting or a related field and be licensed by a professional body, such as the Institute of Certified Public Accountants. 

 • Registered Tax Practitioner

Good tax accountants must be registered with the Tax Practitioners Board as a tax agent. This ensures that they have the relevant qualifications and experience to provide tax services.

• Understanding of Australian Tax Law

They must have a good understanding of Australian taxation law. This is essential in giving you accurate advice and lodge your returns correctly.

• Range of Services

They must be able to offer a range of services, such as individual taxation, business taxation, self-managed super fund taxation and capital gains tax advice.  

• Flexible Payment Options

They must be able to offer flexible payment options, such as hourly rates, fixed fees or no-fee options. This will ensure that you can find an accountant that suits your budget.

• Client References

They should be able to provide you with references from previous clients to give you an idea of the quality of their services.

• Australian Based

They should be based in Australia. This will ensure that they are up to date with the latest changes in taxation law and can provide you with the best possible advice. Type in ‘tax accountant near me’ when you are searching online. 

 

How Malkoun & Associates Can Help You

The bottom line is that a tax accountant can save you time, money and stress when it comes to your taxes. 

At Malkoun & Associates, we are always ready to assist and simplify the process for you. We offer a variety of services you can avail yourself of from us to help with your business.

If you are looking for someone to help you with your taxes, then be sure to contact us today to get started!