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As a small business owner, you may not have the luxury of having a full-time accountant on staff. But you definitely need one if you have a lot of income and expenses to track. And if you’re like most entrepreneurs, you probably don’t have time to do your own taxes.
This means it’s time to hire an accountant — whether it’s part-time or full-time, depending on the number of hours they’ll be available to work with your business. When you’re hiring a tax accountant, it’s important to know what questions to ask. Here are 4 questions that can help you make an informed decision about your tax accountant in Melbourne.
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Can You Explain the Process?
Your accountant should be able to walk you through the entire process of preparing and filing your return, from start to finish. If they can’t explain it in detail, they may not be able to do the job well. You want to see examples of their work because this will give you an idea of what kind of services they offer and how effective these services are. For example, if a tax accountant is good at preparing returns, then he or she might also be able to assist with other aspects of your business as well, such as bookkeeping and payroll services.
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How Much Experience Do They Have?
You’ll need someone with plenty of experience in your industry or niche if you want them to be able to give you a thorough and accurate assessment of your situation. This is especially important if your taxes have changed much since you last filed or if there have been any changes in tax laws that affect how much money you might owe the IRS or state governments — both of which are common reasons why people hire accountants. If you’re looking for someone who has experience in your industry, then it’s important to ask if they’ve worked with clients like yours before. If they haven’t, then be sure to ask how long they’ve been practicing and what types of clients they’ve worked with before. You might even want to invite them out for coffee so that you can meet some of their previous clients at the same time!
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Can you provide a clear and concise explanation of the services your tax firm offers?
Accountants are supposed to be experts in their field, so it’s important to ask them about what they can do for you. The more specific you can get, the better. For instance, if you have a big project coming up and want help with accounting and bookkeeping, ask if your accountant has experience with that particular type of work. If not, they may be able to recommend someone who does.
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Do my questions make sense to them?
Your accountant should know how to answer any questions you may have about their services or fees, but it’s always a good idea to double check just in case there were some miscommunications along the way. You don’t want to end up paying too much for something you didn’t need or don’t understand! If you hire a qualified tax professional, they can help you navigate through this maze and get the most out of your money. They’ll be able to tell you how much to pay in taxes each year, which will make it easier for you to plan ahead.
