I’m sure I’m not alone when I say this, but I hate tax time. All the paper work, receipts, calculating profit and losses – the whole thing sends me bonkers. I’m normally pretty good when it comes to managing money and personal finances (Thank you Turbo Tax), but when it comes to making tax effective decisions, having a knowledgeable accountant is worth it’s weight in gold.
This year I started a new business, and with it comes a whole host of responsibilities and decisions about what to claim and how to minimise my tax, whilst maximising my income. There have been quite a few things i’ve struggled with and having an accountant that knows what they are doing has been so amazing. Even better is that I can phone him any time throughout the year and ask “silly” questions and he is more than happy to help and not charge me a thing.
He knows that by offering me these small golden nuggets of information that I am certain to do all my end of year tax with him as no one knows my business operations better than him and I have a level of trust with him.
At the moment I am going through all my accounts trying to get everything ready to see him and I asked him what seemed like a simple question, and he got back to me with information that will likely save me close to $5,000 in tax – that’s the kind of advice that’s going to help me expand my business and keep me going back to him as a future client.
So if you don’t have a good accountant and you’re trying to run a business – I highly recommend that you find one. Not just any old one either, but one that is willing to work with you to understand the ins and outs of your specific business and will help you to make great decisions.