I am a tax accountant. Yes, I know what that means. But what do I actually do?
Do you get calls asking for you by name, or from random email addresses? Probably not.
A good Tax Accountants Sydney earns an honest living by helping clients with their tax affairs and tax returns. They do the basic work of preparing your tax return and keeping all the paperwork that you might need. That is, they will create your company accounts, and your tax returns and also manage your taxable income and income tax liabilities.
To you as a client, your tax accountant is your one-stop-shop for all your tax issues. Their fees vary from client to client based on the complexity of their affairs, and the workload that they want to put in. They might want to sit down with you to discuss your affairs with a fine-tooth comb and help you to structure them in such a way that they benefit you. They might want to plan a lump sum approach to tax planning for you.
They might want to sit down with you to discuss your affairs with a fine-tooth comb and help you to structure them in such a way that they benefit you
Many people are unhappy with the tax arrangements that they have made over the years. Often it has to do with a simple error or a benefit not getting taken out of their income, or they just do not have the skills or knowledge to be able to understand how to structure their affairs to take advantage of all the tax benefits that can be afforded to them. But there are plenty of us who aren’t. So what do we do with this set of circumstances?
There is a range of people who fall into the tax accountant’s client base, including the self-employed, limited companies, farms, trusts, and professional bodies. I don’t know any of them, but I bet that they all have interesting tales to tell.
Now to me, being a tax accountant involves quite a lot of research, some organization and a lot of knowledge of various facets of tax law, and the complexity of tax laws and I understand that there are people who are really good at what they do. However, I don’t find myself up to speed on a lot of things, so I rely on professional help.
My employer’s tax team is also a client of mine, and so I find myself taking on a lot of the responsibility for tax affairs in my workplace. So it is a very multi-faceted area for me.
My advice to anyone thinking of joining me in the world of tax is to do a lot of reading before you dive in.
