Hi guys,
At what age/stage in your life did you engage an accountant?
I may need to get an accountant. What should I look for in a good accountant? Should s/he be making deductions for me (making them up?) If he's an effective/good-to-have accountant?
How common is it for an accountant to make deductions (which may or may not be true), for their clients?
What other pointers/tips to people have? How much should they cost and what other services should they offer?
Thanks
I only see 6 questions :)
Try again
Don't hire this guy to be your accountant
Marry an accountant. Problem = solved
Do you need to calculate the depreciation of the $80k AMG investment car?
Teehee, subscribing works! Get on board everyone!
https://www.ozbargain.com.au/user/177797
Oh, and to answer your questions, I got an accountant when I was born (my dad).
Untrue deductions is risky for the accountant and you, so I doubt it would happen these days as much as it used to.
When I got married, saw the mess of my spouse’s unlodged returns for several years and realised I now had shares and work car and other deductions.
My accountant has worked with me for 20+ years, knows my family and situation from our annual catch up and occasional mid year email questions, so he is able to suggest areas where people in my circumstances routinely claim deductions.
We tend to discuss the best approaches, and he will advise the pros and cons (e.g. claiming home business expenses vs CGT exceptions). Sometimes he will shake his head at how cheap my mobile and internet services are compared to what some of his other clients are claiming.
Any deductions I claim are at my decision, and must be able to be substantiated. I think it is important to keep good records and claim legitimate deductions, but to also pay the taxes you owe.
Having an accountant that agrees with this approach suits me.
when my tax return was getting messy - salary sacrifice, mixed with HECS, uni fees/costs for a course that was work approved, working from home deductions.
Once I was self-employed and learned about income splitting and corporate tax rates.
No need of accountants. Every thing is automated now. Get Robots instead.
This was my first year using an accountant as I could not seem to get My Tax to give the proper return estimate for my wife or myself.
Lots of investments, salary sacrifice, overseas income stream made things a bit harder than usual and the fact our accountant discovered my wife's work had made mistakes in the payment summary.
8 question marks, this man needs advice!