Tips for Finding a Trusted Tax Accountant for Your Business

If you own a business, finding a good tax accountant is an absolute necessity. Not only will having a knowledgeable tax accountant in Melbourne on board be an invaluable resource for your business, but when it comes to filing your business tax return, you’ll need a true tax accounting professional in order to maximise your return and minimise mistakes. Here are some tips for finding a trusted tax accountant for your business.

Find Out Who Does Tax Accounting for Your Competitors

While referrals can be useful, you can cut out the middleman entirely and instead find a tax accountant who already works in your field. No two accountants are the same, so when it comes to looking for a tax accountant in Melbourne CBD, it’s important to try to find a professional who already understands the ins and outs of your business.

If you’ve been conducting business in your field for a long time, you’re likely already familiar with who your biggest competitors are, and if you’re on friendly terms, you might be able to simply ask them who they use for their tax accounting needs. The added benefit is that this will eliminate the need to interview multiple prospects, as you can rest assured that a tax accountant who works for similar businesses will already be well equipped to handle your own.

Get Clear on Your Needs

Another great tip when it comes to finding a tax accountant in Melbourne is to first get clear on exactly what you need from these professionals. For instance, if somehow your business has landed itself in a complex tax situation, it’s likely you’re going to need a tax accountant who has dealt with similar situations in the past. Also, if your business operates within a complex or emerging domain, you may need a tax accountant who has specialised knowledge of a particular accounting software as well as general accounting skills. Getting clear on your needs in advance will make it easier for you to filter out prospects and get the help you need faster.

Compare Quotes from Different Accountants

Another important thing to keep in mind when it comes to looking for a tax accountant in Melbourne CBD is that some accountants charge differently to others. For instance, one tax accountant may charge a monthly fee for their services that is inclusive of everything you need, while another may charge monthly for their bookkeeping services only, with other services such as business and personal taxes billed at a separate rate.

There can also be vast differences in the pricing of accountants and bookkeepers. Pricing can depend on multiple factors such as if the bookkeeping or accounting firm is relatively new or if the accountant specialises in an emerging field, such as the blockchain.

Compare multiple quotes in order to gauge a median fee for tax accounting services, and then choose the tax accountant who you feel best suits your budget and needs.