What to expect in a good accountant/tax advisor

Discussion in 'Accounting & Tax' started by 2020 Property Investor, 30th May, 2020.

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  1. 2020 Property Investor

    2020 Property Investor Active Member

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    13th Jan, 2020
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    Sydney
    Hi There,

    I haven't really used an accountant/tax advisor before and wanted to hear from others on what they experience/expect from a good advisor to help calibrate my expectations.

    Thanks
     
  2. Trainee

    Trainee Well-Known Member

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    Australia
    A lot depends on:
    What you have.
    what you do (public sector employee? Own business?)
    What your plans are and how clearly you can explain that.

    a good accountant will ask a lot of questions.
     
  3. 2020 Property Investor

    2020 Property Investor Active Member

    Joined:
    13th Jan, 2020
    Posts:
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    Location:
    Sydney
    Thanks
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Australia wide
    I am not an accountant but am a tax advisor. What I try to do is show clients how to save tax, correct their misunderstandings and help with some strategies.
     
  5. datto

    datto Well-Known Member

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    As a client I don’t like big ego accountants that try to pull the wool over and charge extra and yet make simple mistakes because they have rushed things to finalise the return at the last minute.

    Kinda like me when I was at school hastily copying someone else’s homework 5 minutes before class started. Poor effort. Sticks out like the proverbial.

    Not saying all are like that.
     
  6. Cousinit

    Cousinit Well-Known Member

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    Location:
    Victoria
    Accountants seem to specialise in certain areas of business to some degree and I agree that it depends on what you do. I live in a farming area and most of my accountants clients would be farmers and a few small business clients etc. Over the years we've had great service and a lot of help which has been very good indeed.

    However, as we've grown to invest in more residential property and now ramping up our brands on Amazon I can see us reaching the limits of what they can offer.

    If you can find an accountant that you can trust and communicates well it's a good start.
     
  7. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    18th Jun, 2015
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    15,067
    Location:
    Sydney
    A good tax adviser will:
    1. Be available to assist with any questions and advice in a timely manner
    2. Be a good communicator as they will need to explain complex issues and alternatives
    3. Be highly knowledgeable and offer startegies and suggestions
    4. Be a good listener to support their advice
    5. Suggest things that may assist you
    and lastly, Assist with preparation of return/s for lodgement in a cost effective manner.