You’ve heard people talking about their accountant, but you have no idea why Jim from around the corner would need one? Well, it turns out Jim has a thriving internet business, and he needs help balancing the books. Are there any financial needs you may have an accountant might be able to help you with? There are so many rules and regulations when it comes to finances and especially when it comes to workers and payroll.  Here are the top five reasons people might need to hire an accountant.

Establishing a business

Setting up and maintaining a business in Australia takes time, effort and planning. An Accountant can give you advice on planning and taxes and protection of your personal assets when creating your new business. They can help you register it or make a trust or even help you with a resident public officer to run things for you.

Filing your tax return

Accounts help with taxes on capital gains,income,  fringe benefits and goods and services. They can file your local,  foreign and BAS taxes and give advice on getting the best returns possible.  Accountants will help you keep up with the constantly changing laws and regulations and steer you clear of common pitfalls that people often make that result in less money than they are due.

Accounting, bookkeeping and payroll

Accountants can provide bookkeeping and payroll for businesses in need. Accounting and bookkeeping can be done together or separately either regularly at their offices or on an as needed basis. There are National Employment Standards that small and medium sized businesses must keep in mind as well as keeping in line with Enterprise Bargaining Agreements and Industrial Awards. Workers on the payroll can provide a maze of different requirements that can trip up even the savviest business owners. Accountants can help you keep all of that in order while you focus on your business.

Superannuation

Superannuation is retirement savings that are required for all workers.  Employers have to contribute an additional 9.25% of the salaries it pays its workers. This is an extremely complicated set of rules andregulations, and they are mandatory for all businesses with employees. Accountants will take the pressure off and do all the work for you.

Consulting and financial planning

 

Financial planning is a very important part of anyone’s overall financial health. Accountants can give you a leg up on the competition by helping you make prudent and thoughtful choices for the future of your money. Businesses or individuals can feel free to ask any questions they might have and generally financial planning can be offered as part of an accounting package, or an introductory meeting can be set up gratis.

If you are in specific need of an accountant, look for us at accountantmelbourneco.com.au.

Related Posts:

Leave a Reply