Your Money

Should my business get an accountant?

I am new to business and want to keep my taxes at to a minimum and have read that you think businesses should have an accountant, but I don’t think my cash position will justify it.

Paying for great advice is worth it. Deny your fears and search for the best accountant in town. If he or she is good, they will help you afford their services and be honest with you if your business is worth sticking with.

If you really won’t take this great advice, go to www.ato.gov.au and glen through all of the tax tips for business. Use your search engine using “tax tips + business” and build up a dossier of tax deductions, tax strategies, rules of thumb, etc.

If you spend money to legally reduce your tax bill, it’s money well spent.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

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Published on: Wednesday, December 08, 2010