If you hire someone to prepare your tax return, choose wisely. You, as the taxpayer, will be held legally responsible for your tax returns even of someone prepared it on your behalf. Therefore it is important to pick your tax accountant Melbourne expert carefully and not in a rush. Begin the search well in advance before the need arises. This way, you’ll have time to weigh your options and settle down on someone who will meet all your needs.
Choosing a tax accountant is no doubt a hard task. What qualifications should a good accountant have? Which qualities should you look out for? How much do tax accountants charge? These are some of the questions that could be running in your mind when looking for a tax accountant. Get answers to these questions and others in this article.
Which relevant expertise do you have?
If your company is technology-based and you issue stock options, look for a tax accountant Melbourne professional who has carried out such tasks before. Better yet, make sure that they have worked with large companies with more complex tax matter than you. This will give you the reassurance that they are capable of handling your project. A true professional will inform you if they are not fit for the job. Maybe the task is too complex for them because of their lack of relevant experience, or too simple to warrant their help.
Which amount of experience do you have?
Much is learnt through experience when it comes to tax accounting. A competent tax accountant is one who has a minimum experience of 5 years in handling individual returns. Experience with large corporations than with small businesses is better. It means that they are exposed to broader tax issues.
What licenses do you have?
It is best to work with a tax professional who has a Certified Public Accountant (CPA) license, even if it’s not technically required. A tax attorney should hold an advanced tax degree for an attorney (LL.M). It is also important to check if your tax preparer continues his education – this is what true professionals do. Also, are they affiliated to any professional organization?
Do you feel comfortable with your potential accountant?
The truth is that you are going to be working with this person for the better part of the year, so you need to get along well. Can you comfortably ask him any question, even if it sounds stupid? There no stupid questions in taxes because tax codes are practically not logical. Choose a tax accountant Melbourne professional whom you can ask any questions and share everything about your business.
Who is going to actually work on your returns?
If you’re dealing with large accounting firm, you need to determine who will actually work for you. When you are assigned an accountant, check their academic qualifications and experience. Make sure they fit well into your job. And, as explained in the previous point, make sure that they are personable. Also ensure you are not assigned a junior staff who recently joined the firm, or a accountant manager who is never available when you need him due to his busy schedule. Find out more at http://www.moranaccountants.com.au/our-services/taxation/.