Why Should You Use an Accountant
Well, first of all, if you don’t then I don’t eat, right!?!?!?!?!? I’m kind of joking, but kind of not…The truth is, everyone knows I have a vested interest in this, but maybe you haven’t looked at it the same way as me, yet.
Many people have quite basic returns, often with very little in the way of deductible expenses. This can sometimes result in smallish refunds that might suggest there is not enough benefit from using a professional to justify the fee. Bear in mind the tax deduction on your next return so your actual out of pocket expenses for tax preparation is less than you initially might think…but there are some other non-financial benefits that may make you think twice.
For many people using an Accountant extends your lodgement due date to May instead of October, which can reduce pressure for collating receipts and papers for your return.
Sometimes your return is not as straight forward as you might think, and the Australian Taxation Office may want some clarification of issues…you may not even ever know the ATO asked the question, as your Accountant can answer and satisfy them without the bother and stress even being brought to your attention. This peace of mind in itself can be worth the accounting fees.
Your accountant can let you know what is not relevant, so you don’t have to keep receipts you don’t need. Then, a few pointed questions might enlighten you on deductions you didn’t know you were eligible for.
Then there are the constant changes – just think of the Budget every May…a little period of frenzy for accountants everywhere, as we take note of the changes as they will apply, not to mention the long hours of seminars and professional development on a regular basis to keep up to date with what the ATO is targeting, and changes in the industry.
It’s a bit sad really, but some of us actually LIKE doing tax…most average people don’t, and it is a source of stress and anxiety. Bring your tax to an Accountant (and by that, I mean ME) and you can spend your time and effort doing the things you want to, or at least the things you need to. I don’t cut hair, I don’t mow lawns, and I don’t fix cars…why wouldn’t you use an accountant when you need the peace of mind to know your finances are all in order???
Like I said, I am biased, but I still think I am right!