| A tax consultant is also referred to as a tax advisor | | | | consultants can offer you misleading advice and this |
| as he advises you on the best practices so that you | | | | could lead to legal disputes, which something we all |
| can maximise your tax refunds. These individuals are | | | | want to avoid at all costs. |
| trained in law and accounting procedures so that they | | | | Services they offer: |
| can help you manage your taxes and cash flow as | | | | GST and Tax Services: |
| well. Filing your taxes can be a time and energy | | | | • Preparation of tax returns for |
| consuming endeavour so it is better to hire the | | | | -Partnerships |
| services of tax consultants. | | | | -Individuals |
| What is the need? | | | | -Companies |
| The need depends primarily on your business needs. In | | | | -Trusts |
| today’s day and age every penny saved in used | | | | • Preparation of Business Activity Statements both |
| to be reinvested in the business so it is very important | | | | monthly and quarterly for GST |
| that you get the correct financial advice when planning | | | | • Professional Advice |
| your business capital. Where taxes are concerned you | | | | Bookkeeping: |
| can save a lot of money if you have the correct | | | | • They use a number of accounting tools like |
| knowledge about deductions and applicable tax credits. | | | | MYOB and Quicken |
| This is not about finding loopholes or some grey areas, | | | | • They can assist you with preparation of monthly |
| but if you know where to spend what amount, it can | | | | financial reports |
| actually be profitable for you. | | | | • Help you with Debtors and Creditors |
| Most business owners, as the companies expand | | | | Secretarial: |
| need to invest all of their attention in the company and | | | | • They can even help you with the preparation of |
| in ways to grow, in such cases though important, they | | | | company minutes |
| don’t have time to file taxes which is punishable by | | | | • Company formations |
| law. To avoid such issues it is the best practice to hire | | | | Auditing: |
| a professional taxation accountant who can file the | | | | • Auditing of- |
| right amount of tax at the right time. | | | | -Sporting Associations |
| If you need financial advice then please consider the | | | | -Solicitors |
| name Taxable Accounting. For more info please | | | | -Real Estate Trust Accounts |
| check out | | | | -Company Statements |
| Reasons to get a Tax Consultant: | | | | Financial Services: |
| Experience: | | | | • They can even assist you with Home Loans, |
| Experienced tax consultants is what you should hire, | | | | Commercial Loans, Debt Financing, Invoice factoring, |
| don’t be fooled by students who are fresh out of | | | | etc. |
| the college and start offering financial and tax advice. | | | | • Refinancing Investment loans and other business |
| Agreed there is a dearth of consultants, but make | | | | loans |
| sure you hire only an experienced professional as this | | | | • They can advise you on purchase of commercial |
| will save you money as opposed to shelling out extra | | | | equipment and machinery, leasing of equipment and |
| to amend mistakes made by newbies. Inexperienced | | | | machinery, Hire Purchase, Chattel Mortgage. |