Getting a cool tax returnGetting a cool tax return

About Me

Getting a cool tax return

For many years I couldn't work out how my co-workers seem to be getting these really cool tax returns, which let them go on holidays to Bali, where I seem to get tax returns that let me go to the local fast food joint if I was lucky! Since I met my girlfriend I started to go to her tax accountant and I finally understand how it all works. There are so many easy deductions that I can claim now, which is going to help me head to Thailand this year! This site has some of the tips I have learnt to help you maximise your return this year.

Hiring an Accountant: 3 Things to Consider

If you have recently decided to hire an accountant to look after the books at your business, you may be wondering how you can find a person who is the perfect match for you. While all accountants may seem the same, there are some important differences which you should take note of when appointing a new accountant to work for your business.

Their previous experience

The first thing you need to establish is the previous experience of the accountant. As a small business owner, it is likely that your accounts team will consist of just a couple of people. It is therefore essential that the accountant you hire has experience in every area of accounting. For example, the same person may be required to run the monthly payroll, perform bookkeeping tasks, produce invoices and chase payments and file local and state tax returns. If you hire an accountant who specialises in one area of accountancy, they may not be able to cope with performing the variety of tasks which are required of them. Ideally, you should seek an accountant who has recently qualified and who has worked for other small businesses before.

The type of software they are trained to use

There is a wide variety of different types of accounting software used in Australia. When looking to hire an accountant, it is important that you check what types of software they are trained to use so you can check if this is compatible with your business needs. For example, if you operate a small retail, hospitality or non-profit organisation, you should be looking for an accountant who is experienced in using software such as Xero bookkeeping. This type of software is ideal for producing end of year reports, tax returns and for managing your payroll. However, if your business is already medium sized, you may wish to consider software such as Sage accounting. 

Their credentials

Finally, even if the interview goes really well and you think you have found the perfect accountant, you should still take the time to check out their credentials. For example, you should contact the educational body which awarded them their accountancy qualification, and you should also call or email their referees so you can assess their character. Your company accounts are the backbone of your business, so it is important that they are in safe hands.

If you would like further advice, contact an accountancy company today.