What questions to ask your Tax Accountant in regards to your Small Business?

What questions to ask your Tax Accountant in regards to your Small Business?

Do you get overwhelmed when going to the tax office? Unsure what to ask?

Don’t really understand taxes and your tax obligations as a small business owner?

We at Perth Tax People understand that meeting with an Accountant can be quite daunting for new business owners and even experienced business owners. Nobody enjoys talking about money and taxes, however, it is an obligation we must face.

Scheduling a face to face meeting with your Accountant will be the best strategy to ensure your finances and cash flows are being managed appropriately. If your accountant is not available in person, schedule phone calls or emails to make sure you know that they are on top of it.

We have come up with a simple list of questions to ask your Accountant to make sure your business is on the right track:

Q1: How can I save on GST and Income Tax

Q2: What software should I use for our Accounting System?

Q3: Can you please provide me with relevant industry insights for my new business?

Q4: What Cash Flow management strategies should be in place?

Q5: When will I receive updates about our taxes and financials?

Q6: When do I need to lodge BAS Statements?

Q7: When are Business Tax Returns due?

Q8: What is Single Touch Payroll and how do I become compliant?

Q9: When do Payment summaries need to be sent by? Do I still have to send them?

Q10: What advice can you give me for my business?

If you ask all or at least some of these questions to your small business accountant in Perth, you will get a better understanding of how vital a good accountant is for your business. You will be better to understand all the ins and outs of your business, as well as the role of your accountant.

If you still need help or want to talk to knowledgeable Senior Accountants, please call 1300 751 700. We provide free advice and free consultation for all new business owners.

Nilesh Vasoya

Nilesh Vasoya

Nilesh Vasoya is a CPA and experienced business advisor with 15+ years’ experience in accounting and tax, and certifications from NTAA, ICAI (India). He is also a Registered Tax and ASIC Agent. Nilesh specialises in financial reports, cash flow, taxation advice, internal audit, account reconciliation, and advice for small businesses on maximising XERO, MYOB, and QUICKBOOKS. He is experienced in developing strategies for growth within small-medium scale companies.

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