How to choose a tax accountant
Although some people choose to complete their tax returns themselves, most Aussies (around 70%) prefer the many benefits of using a tax agent. Deciding how to choose a tax accountant can seem like a difficult task, however, we’re here to make it easy for you with just four simple steps.
1. Determine whether they are qualified
The first step is to choose a tax agent based on their qualifications.
Any well-regarded tax agent should be able to produce their credentials and qualifications with ease.
If they cannot, that’s your first red flag and you should steer clear.
Next, you should look for the Registered Tax Practitioners Board symbol on their website, business cards and other business materials.
If you cannot find it there you can either ask the tax agent whether they are registered with the board or check for yourself using the registration details on the Australian Tax Practitioners Board register.
Only a registered tax agent can prepare and lodge tax returns on your behalf. That’s why it is important to check that they are indeed registered with the Australian Tax Practitioners Board to safeguard yourself from liability.
2. Analyse their reputation and reviews
Just because there is a tax accountant in the building right next door, does not mean they are the best choice.
Instead, you should consult with your friends, family or financial advisors for recommendations of the best tax accountants in your area.
You should also make sure to analyse a tax accountants website, independent reviews and testimonials as well as their experience to determine whether they are reputable and trustworthy.
3. Determine whether they offer personalised service
Personalised service can often be overlooked when choosing a tax agent.
However, it is arguably one of the most important considerations when making decisions about how to choose a tax accountant.
One of the benefits of using a tax agent that offers personalised service is that they often achieve the best possible tax return for their clients.
This is especially relevant due to the current circumstances brought about by COVID-19.
If you have been made to work from home or had to adapt your role in any way, having the added benefit of a personalised service tax accountant will see you enjoy returns on many deductions that you may not have been aware of.
A tax agent that offers personalised service will get to know you personally, intend to understand your unique circumstances and utilise this information to achieve the best possible tax return.
4. Questions to ask your potential new tax accountant
To ensure you make the right choice when speaking with your potential new tax accountant, there are a few questions you should ask:
- Which professional bodies are they registered with?
- Do they offer the service(s) you require?
- What are their fees?
- Who will be the tax agent responsible for your account?
- Does this tax agent offer personalised service?
The answers to these questions should put you at ease and reassure you that you are making the right choice about your tax accountant.
Ready to talk to a qualified and reputable accounting firm?
Now you’re fully equipped with all of the information on how to choose a tax accountant, you’ll be sure to make the right choice!
To speak with the most reliable Gold Coast tax accountants, contact the professionals at Simmons Livingstone and Associates today and enjoy the satisfaction that comes with dealing with a down-to-earth group of professionals.