Anyone recommend an accountant?

[Diamondo]

Can anyone recommend an accountant who is tuned into property investment related stuff - specifically CGT, rental property deductions and trusts etc. Must be able to put up with dumb - as well as occasional inspired questions. This probably (no, definitely) means that they are keen property investors themselves... seem hard to find.

Dale G. is an obvious choice, but is on the other side of Melbourne - I live in the northern suburbs.

Would welcome any referrals.

By the way, has anyone from their experience in dealing with investment property developed a list of criteria for choosing a good (property) accountant. Might be of some help for everyone.

Thanks,

 

[Lissy]

Considering some people on this forum fly from interstate to consult Dale, being in the northern suburbs of Melbourne doesn't seem so far....

 

[asy]

Dale, Dale, He's your man...

If he can't count it...

NO ONE CAN!!!



hehe...

Seriously, Lissy's right.

asy

 

[Mr. Fabulous]

Diamondo,
I live in St. Kilda (with no car). That means, to see Dale, I have to travel two hours each way. It's totally worth it, believe me. An excellent accountant is worth travelling for.

Mark
'no hat, some cattle'

 

[Patosan]

Other side of town ! Oh you poor soul.

Hell I'm in the northern hemisphere.
I just started a business relationship with Dale GG recently.
So far HE IS THE MAN !!!!!!

I come from the western side of Melbourne, there's no one good there, I gave up looking. Before Dale I was going to hawthorn. Kilsyth is much further, but you don't have to visit him every week.
In fact you don't have to at all ... others and I are proff of that.

I do hope to meet him one day, to share a nice bottle of his choice.

If you find someone who can really help you ...
professional, helpful, honest and kind ...
don't let them get away.

 

[alpina]

out of curiousity, how much should one expect to pay for a good accountant? i know you get what you pay for, but im curious?

julie

 

[Mr. Fabulous]

Julie,
That's like asking how much is a can of coke? It differs depending on where you go. The only you'll find out is when you speak to accountants and ask for their fee structure. Some might charge $50 an hour (low, I know, it's just an example) others may ask for $500 an hour. It all depends on what you are looking for and how much you are prepared to pay for the advice you receive.

Mark
'no hat, some cattle'

 

[alpina]

had a feeling it was a silly question.

we've always spent good money on legal advice and have a very good relationship with our legal eagles (possibly because ben is from the industry), yet we dont have a similar relationship with our accountant - we see him once a year for our tax returns (we keep very good records ourselves) and have always been happy with our return, and that's pretty much the end of it. since joining this group, we are beginning to wonder how much more we might be missing out on.

julie

 

[Donna]

Who's a dil

Hey lets face it, in the workd of 'normal people' we are well ' not normal, diffferent, dreamers, who knows what?'. So lets face it, to have a real live accountant, that works 'on the right side of the law' is well worth any 'travel expense' it would cost you to get there. How many of your friends, wortk associates can you talk to and be understood by?, How may would even know who Jan Somers is let alone who Robert Kiosaki, Peter Spann or Margaret Lomas are? You have joined this forum for a reason an and so far you have had many answes to who is a good accountant but now you need to ask yourself is ' what am I prepared to pay for good advice?' You may find a GOOD accountant 5 minutes from where you live that wil save you $500 but ypu may find an accpountant in Sydney or Brsibane that will save you $20,000. Which is the better one for you and only you to decide!

quay sarah sarah! what will be will be

Donna

 

[july]

Its all about what you want to achieve.
Dale is a key player in my wealth creation strategy - I would make it work no matter what!
Just get in the car, drive to Kilsyth and once you talk to him then make up your own mind as to whether it too far to travel.

 

[alpina]

where abouts in melb is Kilsyth ?

julie

 

[DaleGG]

Hi

Kilsyth is at the foot of Mt Dandenong and is about 35 to 40klms east of the city. Still suburbia, but, a lot greener.

Have fun

Dale

 

[Sunstone]

Dear guys,

Ask yourself this question.

Do you want to be paying for an accountant who has very expensive office rents/prime inner city position or do you want an accountant who keeps his own operating costs to a minimum?

How will this affect your own back pocket?

Cheers,

Sunstone.

 

[brains]

Thats only your opinion Sunstone, remember the old saying
"success breeds success"

If people concentrate solely on saving money and being a tight arse, their road to "independent wealth" (is that the correct term you guys use?) will be a lot longer.

If you want to be small, think small. If you want to be big, THINK BIG!

 

[Sunstone]

Dear Brains,

I am not knocking success. The issue is really how this "success" is really a false perception. And are you just paying for "show"?

Example.

Building inspections costs:

-One company $143
-One company $220
-One company $495 + $100 for 12 month indemnity guarantee.

Can you tell me that you would choose the last one just for a flashy report?

Does a higher price ensure a greater degree of "success" or is it a blatant waste of money?

On the think big side this is a completely different debate. However yes too many parties are stopped through "Paralysis by Analysis" however there is certainly the right SANF balance to ensure long-term success.

Cheers,

Sunstone.

 

[Jamie]

Hi brains,

I think I missed the point of your post.

What is it exactly you were saying? Does spending more on an accountant ensure a better outcome? You seem to deride Sunstones reasons for the low overheads of a particular accoutant but give no reasons why paying a higher premium ensures a better deal...

Details please...

Jamie

PS What does the adage "success breeds success" have to do with the thread? Sunstones point was that Dales overheads are lower due to his distance from the CBD. Do you dispute Dales success??? Why does THINK BIG mean you have to PAY BIG???

 

[brains]

Guys,
Im not exactly sure what you are asking me, i thought my post was pretty self explanatory.

If/when your property portfolio reaches multi million dollar levels and your net worth or income rises proportionately, dont you think its time to stop seeing the budget accountant 'round the corner because hes cheap.

As you move up the ladder of success, im sure you will not be using the same accountant that you used at the beginning of your journey. You dont see corporations or business/property giants going to a local corner accountant because they are cheaper and/or have lower overheads.

The meaning of my statement "success breeds succcess" is that as you become a successful property investor you might want to start dealing with or associating with accountants/solicitors/surveyors/planners...whatever, that have achieved the same or similar level of success as they will have the resources/network/contacts to grow your portfolio or business
further and have the same mindset as yourself.

And i never knocked Dales or anyones success, (i wasnt even thinking of Dale when i typed the post, i was generalising)implictly or explicitly, i dont know how you percieved that, i admire successful people , and people who have moved past the penny pinching mindset that many mistake for budgeting.

One last thing: im sure you have heard the saying " dont dress for the job you have, dress for the job you want" if you apply it to what im saying, i think you should think about the accountant you want to be seeing in the next couple of years not the one you have seen for the last couple of years.

 

[Mr. Fabulous]

Brains,
People assumed you were directing your jibes at Dale (as well as others) because the discussion had floated toward concentrating on Dale and after Sunstone's post about Dale being out in the sticks, your post looked like an out and out attack on Dale. Ya gotta be careful what ya post, cause no else thinks exactly the way you do.
Let me tells ya something, as a client of Dale's. He might be out in the sticks, but he's the best property accountant in Australia (in my opinion), and it's got nothing to do with where he is situated and or how much he charges for his services.
Let me tell ya, the guy is experienced, not only in IP's, but also in a number of other areas. He is one of those rare breed of people that is genuinely interested in helping others, not just mindlessly doing the taxes in July and putting his hand out for the fee. As a client, I know that I can shoot off hundreds of questions (not at the same time though!) and they will all be answered to the best of his ability. How many accountants do you know that do that?
So while you're 'moving up in the world' and paying more and more for basically the same service, just cause you can, I (and many others) are going to be continuing to develop and strengthen our relationships with Dale, because we can depend on, ask questions of, get our tax bills reduced significantly by, have our assets firmly protected by and most importantly, TRUST him.
Now, I don't know about you, but that last point is by far the most important one to me, cause all the money in the world can't buy that. Think about that when your next bill from some faceless number cruncher comes in.

Mark
'no hat, some cattle'

 

[brains]

Mark,

Good post and to the point which i like.

As ive already explained my post had absolutely nothing to do with Dale.

Im sure Dale is a great accountant, but what makes you think he is the best accountant in Australia, thats a big call and im sure youre wrong.

Does Grollo or Trugiboff use Dale for their huge building/property projects? Id think that the scale of them would be too big or complex for Dales Office. (With all respect to Dale its a reality)

My own accountant in Sydney constantly answers my questions to the best of his ability and takes an active interest in the tax minimisation and general financial affairs of my business so its not a unique feature of Dales (or any other accountants) service.

Lastly, yours and Sunstones posts just emphasises the fact that we think differently about these things, nothing more- nothing less.

 

[Sunstone]

Dear Mark,

Agree that trust is important most things that we do. Business as well as relationships.


Brains,

Different thinking. Yes that is extremely important. If everyone thought exactly the same way what would that do to innovation?

There is not just one road to reach your goals. However debating and discussing methodology allows both sides to see (if they continued to be open minded) the flaws/potential flaws so that a strategy and therefore road can be improved upon.

Cost control is an important part of my strategy.

Cheers,

Sunstone.