Along with our business advisory, bookkeeping and accounting services, we at Meridian are also a registered tax agency, meaning that we can assist you with every sort of tax compliance, tax advice and tax planning. Some people might think that all employing a tax agent really does is save them some work. While it does definitely do that, there are a number of benefits to having your tax taken care of by a professional. Here’s why you should use a tax agent.
Saves time & stress
Depending on the complexity of your finances, using a tax agent could potentially save you MANY hours of work. As they are experts in this area and constantly in touch with the relevant software/paperwork, they will always complete the task(s) more efficiently than an ordinary person. Along with the time saving, a tax agent also spares you the inevitable worry that comes from having one’s tax either not done yet or only partially done.
Avoids errors & oversights
Tax is not an area which should involve any sort of guesswork. Unfortunately, though, that’s often the case with folks who do their own tax but don’t fully understand the corresponding rules and regulations. When you use a tax agent, you know everything has been done right first time. You aren’t likely to be hit with any penalties or suddenly find yourself being audited.
Maximises deductions
Your tax agent will ensure that you claim every deduction to which you are entitled, while at the same do not attempt to claim any that don’t apply (and could get you into trouble). With years of experience in the field, helping numerous similar individuals/businesses, they won’t miss anything that can be legally claimed. Now, you might say, “Once I know what I can claim, I’ll just do it the same every time.” The problem is the laws are frequently modified, so an item/amount acceptable this year may be unacceptable next. Tax agents stay on top of these changes.
Helps you plan better for the future
A big part of employing an agent is the tax advice they’ll give to assist you in better managing your finances for more favourable tax outcomes in the future. If you establish an ongoing relationship with a tax agent, this tax planning will be continually refined, based on your situation, the market, financial forecasts, modifications to the relevant laws, etc.
Effectively pays for itself!
Because you should be able to later claim fees paid to your tax agent, the service is essentially free in the long term.
For Tax Compliance, Tax Advice, Tax Planning…
Contact Meridian Accounting & Business Services today! With offices in Rockhampton and Emu Park, we’ve been providing clients across Central Queensland with first-class business- and finance-related services for more than 15 years. Our focus is on making the complex easy to understand, while delivering personally tailored support to help our clients achieve their goals. You can find contact info as well as an online enquiry form here.