Accounting Fees

[The Y-man]

Does anyone do their own tax returns?

My wife does ours.....

The Y-man
(Charges me by the minute I think...)

 

[Jake D]

...as in "expect cost recovery in the next rent increase if you over charge me"

The Y-man

That is part of it, yes.

But seriously, his company banned freebie tax returns for family members so he has to charge something. I just pay the smallest fee on the schedule, which is, from memory "Tax return, single income, no investments" and costs me about $50.

 

[sanj]

So what makes a good accountant? Is it all about the lowest annual fees, getting the largest tax cheque possible, or more so about being proactive in relation to your needs and anticipating where they can help you? This would obviously come at a price, so how do you work out what is reasonable?

to me this is the key but i suspect it also depends on the needs of the client. for someone who is just a buy and hold investor the extra costs that a highly competent accountant may charge may not be recovered over a good accountant who charges a lot less.

for someone with a lot on the go the whole situation changes. i know someone who just swapped accountants to someone who charges him $2k/month for his business and personal tax returns but already with one idea/proactive work has saved him close to $100k

 

[MTR]

I am meeting up with this guy on Wednesday. He is also an investor/developer.

Sam Santoro
Director
OneFinancial Pty Ltd
Accountants & Business Advisers
Level 1, 443 Vincent Street (West)
WEST LEEDERVILLE WA 6007


My g/friend has recommended him and has been using him for a few years now, so does her partner. She moved from her previous accountant for same reason I am moving, too expensive. She runs her own business, is a investor/developer and is involved in various joint ventures etc.

I have discussed fees etc. and he was forthcoming and I believe I can work with this guy and I also think he will be very good just from some of the questions I have asked him.

With my current accountant I know am paying 50-60% more than I should be paying and it is only going to get worse.

We fly to the moon... surely I should be able to pay what is a fair market price for a good accountant.