When it comes to finding the right personal or business tax accountant in Melbourne, it can be difficult to sift through the sheer number of accountants and firms out there and distinguish the truly great accountants from the mediocre ones. If you’ve never looked for a tax accountant before or you’re simply wanting to change who does your taxes, this article will go over some tips you can use to find the right personal or business tax accountant for your needs.
Ensure They’re Qualified
At a minimum, any tax accountant in the Melbourne CBD you’re thinking about hiring should have the prerequisite accounting qualifications that confirm they have a strong grasp of accounting principles and theory and can perform accounting duties to a high standard. An accountant should be at least bachelor qualified and ideally have their CPA (Certified Practising Accountant) qualification too. It’s not purely about competence; demonstrated learning in the field acts as proof that the accountant is actually interested in their field and continues to learn new accounting technologies and methodologies, which can provide further benefits to your business.
Check if They Have Expertise in Tax Accounting
Some accountants may offer other services, such as financial planning or bookkeeping. However, you’ll want to make sure the accountant you hire has a specific focus on tax accounting. This is because tax accounting can be a complex and nuanced discipline in the accounting field, which means it requires someone who can apply their problem solving and critical thinking skills constantly whilst being able to borrow knowledge from other accounting fields when needed and apply it to tax accounting in a relevant manner. Hiring a tax accountant in Melbourne will also increase the likelihood that they’ll have knowledge of any loopholes or tax benefits you or your business may be able to take advantage of.
Seek Out a Referral
If you know someone who’s happy with their tax accountant, ask for a referral. This is a great way to streamline the search process and take out the guesswork when it comes to finding a good tax accountant in Melbourne. If you’re a business, it can help to ask other business owners in your niche who they use to do their business tax accounting. Finding a tax accountant who understands your industry can be crucial for getting the most out of tax time as well as mitigating any unnecessary business expenses that are particular to your industry.
Arrange a Consultation
Many tax accountants in Melbourne offer free consultations. This is a great way for you to ask any questions you may have about their services as well as gauge whether or not the prospective accountant is a good fit for you. It’s likely you’ll be working with your tax accountant for an extended period of time, so while professional skills and acumen are important, you also want to make sure that the accountant is a good fit for your personality and the way you conduct your business.