The right accountant can help you save time, money, and potentially grow your wealth.
Everyone knows accountants help with tax, but few know the diverse roles accountants perform.
There are so many ways an accountant can help you sort out your personal finances or help you grow your business.
Working with a practice that is experienced and trustworthy is vital to ensure the security of your finances. An accountant in private practice can help you foremost with compliance work and completing and filing your tax return. They can also help you with:
- Starting A Business: Ask your accountant for suggestions on what form the business could take, business planning and specific tax and legal advice. They could also assist you with business acquisition and financing asset purchases down the line.
- Setting Up A Bookkeeping System For Your Business: They could help you set up a computerised bookkeeping scheme to keep track of sales, debtors, cash, etc. An accountant can also prepare audited accounts and financial statements.
- Financial Planning, Business Advice & Auditing: Accountants can work with you to anticipate growth and change. They can help improve your business through better financial management.
- Commonwealth and State Tax Planning: Your accountant could help you with tax planning and compliance to minimise your tax bill. They will also keep you informed about changes to tax and superannuation legislation.
- Personal Finance: They can guide you on matters of personal wealth. For example, estate planning, advice on wills and inheritance tax.
Choosing an accountant is an important decision that should take time and consideration. Being informed of what you want from an accountant can help determine the right fit for you.