Why you need a Registered Tax Agent?

TAX TIME: Should I DIY or should I hire a professional accountant and tax agent in order to accomplish my job?

So the most important question arise is that –Do you own tax return or Do you engaged in the professional services? There are some merits and demerits on the both these aspects.

I would like to suggest you as a CPA accountant and registered tax agent that is quite easy to accomplish if you are an employee and earning salary or wages and even gets some interest or dividends. Even if you get couple of regular official expenses to complete the return yourself.

Although process of preparing your own tax return through the ATO’s e-tax can be quite easy. There are prefilled alternatives and a well-behaved call centre. The ATO provides detailed guide to the e-tax user and all the updates regarding e-tax are printed on the first page. It ensures that you are notified to consider the changes. The benefits of this process are that you can do the tax return at your own favourable time and also take some time to examine the cancellations. You can even save the tax agent fees.

It determines the time you spend to emphasize on something else than browsing the complication of a tax return and an e-tax system. It is entirely your preference. It is beneficial to maintain the things you do well and which you cherish.

The negative side of this process is that it can consume your lot of time due to the ignorance and irrestible.As you accomplish this process once in a year which implies that you may have overlooked what you did previous year. The e-tax process enables you to fulfil each screen or portion of the tax return regardless of the adequacy which may seems complicated for you to examine either an item is applicable or not.

My firm suggestion for more difficult situation is that professional tax advice is as worth as weight in gold. For Example- It is recommended to contact Tax professionals if you run a business or have made capital gains or losses the asset value while selling it during a financial year or invested in a property or made multiple deductions. There are numerous benefits to consider tax advices from some professionals. Some the benefits you can receive are:-

  • The fees that you pay can be entitled as a tax deductions in following financial year.
  • You will be capable to receive an extension while filling through tax agents which will even enable you to make the payment of any tax liability to May of the following tax year.

It is suggested to examine either your tax agent is registered prior assigning the tax responsibility to someone. You can perceive registered tax agents or examine whether an individual is a registered tax agent at the Tax Practitioners Board website – www.tpb.gov.au. Contact your friends, families, relatives and reliable business linkage for referrals and read reviews and testimonials.

You should look for an accountant with whom you can be comfortably linked, appreciate your situations and with whom you can continuously work with. You will not like to get your returns completed through a pop up tax shop in a shopping centre and finds that similar shopping centre is not there. In such case it is suggested to initiate depreciation process, business or properties agenda again from the scratch. Below mentioned is the testimonial from the customers with experience transforming from a pox up tax agent to professional and Qualified CPA Accountant.

I will never prefer to return back to a generic tax returns agency again after examine the differences on my returns during that year and following ones. Instead of following a given script to process my tax return as quick as possible and hand over to the customers through approaching CPA accountant, I considered a personalised service which yields better return and advice in comparison with what I can claim for the following year that I was unaware before.

With reference to the above client, there exist a best tax agent who spends his most of the time in studying and dealing with tax law. There are some suggestions on how you can improve your tax returns. A tax agent should be well versed with the entire deductions for which you are accountable and which might have missed.  If you hire a service of qualified and certified accountant than you can be sure about the accuracy of your tax returns.

You can minimise your fees by maintaining proper and accurate business records. If you have carefully retained records of all your deductions and even kept the receipts safely then calculate the tax value will be quite simple. In such case you just have to add up all the deductions and keep the tax receipt somewhere safely. You can make your tax accountant life comfort and can even save your fees by doing so.

A Good Tax Accountant will help you to save your money by doing tax planning together with you. A Good Accountant will even help you to maintain your growth and profit strategies.  Rather than emphasising on saving the cost of tax return, you should think about the growth of your business by hiring a tax accountant who will help you to achieve you business return value greater than the cost of returns of your business.

MaxMargin Accountants is Registered Accounting Firm based in Laverton. We offer Accounting, Taxation & Business Advisory services. To contact us, please contact our Registered Accountant, or Call us 1300 886 518

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