Are you a businessman or a freelancer? Even if you are a salaried professional, you need to pick the right accountant for you. Some professionals have more experience in filing taxes for businesses or individuals, respectively. On the other hand, you can find agents with specialization in a specific tax area or industry segment. Let’s take a look at how finding the right agent could be beneficial.
For an Employee
If you are earning from a single source (or employer), the tax return will not be very complicated. A professional agent can be helpful if you have multiple income sources like investments or multiple jobs. They can help you reduce the applicable tax deduction while ensuring that a correct return is filed.
Freelancers or Work for yourself
This category covers contractors, freelancers, and sole traders. A professional accountant assists you with your Pay as you go (PAYG) or Business activity statements (BAS) investments. They can guide you the best advice on deductions, taxes, and contributions to maximize your savings with their knowledge and experience.
Help with your Business
Juggling with taxes is a challenge for most business owners. From financial records to calculations, a tax agent Randwick can assist you in everything while focusing on core business. And working with a professional with a business specialization can help you with proper guidance and advice on your accounts. Besides returns, an agent helps with:
- Applying for CAN or ABN
- Setting up bookkeeping and accounting software
- Forecasting profit and loss
- Setting up the proper business structure (corporation, company, sole trader, or partnership)
Thus, hiring the right tax professional promotes fewer liabilities, maximizes profits and savings, and reduces hassles.