Tax returns
- Thread starter LoneWolf
- Start date
Why do you say that?
This expense can be claimed the following year though can't it?
Pay accountant, well worth it.
Just recently, my accountant found a double interest payment for a loan, was refinancing at the time and it was during the Christmas/New year period.
It looked normal to me as I thought it was paid back with the refinance figure, but he said no, it's a bank error.
And indeed it was, 9K+ returned with interest from the bank.
Pay a pro to get the best results, if your situation requires it.
If you're a basic employee with not much to claim, it should be a cheap expense anyway, and you'll still get maximum claim with a good accountant.
Just recently, my accountant found a double interest payment for a loan, was refinancing at the time and it was during the Christmas/New year period.
It looked normal to me as I thought it was paid back with the refinance figure, but he said no, it's a bank error.
And indeed it was, 9K+ returned with interest from the bank.
Pay a pro to get the best results, if your situation requires it.
If you're a basic employee with not much to claim, it should be a cheap expense anyway, and you'll still get maximum claim with a good accountant.
Sounds like a 2nd set of eyes.....
Tax returns are pretty cheap if you are not a tax accountant and have no idea of what to deduct then makes sense to get an accountant to do it. If you are worried about cost just head to H&R Block, if you want to maximise your position and have property then build a relationship with a tax accountant, it will save you in the long term.
Cheers, Ivan
I went to H&R Block last year.
Hopeless
The accountant was doing the GAMSAT to have a go at getting into medschool.
Spent 3 hours doing my return and refused to deduct the small stationary items that would've still been worthwhile because he was confused with all the numbers.
Go elsewhere. H&R Block is just a cheap franchise filled with idiots (no offence if you work there).
I used to do my own but when I got an IP I went to an accountant. I use someone in BDO Brisbane and it has cost between $250 and $300 to do the tax return from memory, and I can claim it back the following year. I have everything ready in a file and she just adds it up or works out whatever she needs to while I'm there. It was very useful in the beginning because there were a lot of things I was able to claim that I never knew I could, but this will be my 5th year going and I still think it's worth it.
Hi Lonewolf,
I would always recommend using a professional & be ready to pay them what they're worth.
Why anyone would waste time on trying to fully understand the tax laws is beyond me.
You wouldn't use a discounted brain surgeon would you?
You don't pull your own teeth out do you? - Hope not ;-)
I would always recommend using a professional & be ready to pay them what they're worth.
Why anyone would waste time on trying to fully understand the tax laws is beyond me.
You wouldn't use a discounted brain surgeon would you?
You don't pull your own teeth out do you? - Hope not ;-)
You are speaking the obvious here on numerous occasions, the e-tax system was created so one can conduct their own returns, now, the level of expertise required to conduct a simple tax return and brain surgeon cannot put on the same scale, and that no one is encouraging DIY for this kind services.
If you engage an accountant to do your tax its better to use a qualified person and not some person who did a brief few days "tax preparer course".... There is a reason some tax return prep is cheap.
Beware the franchises...Ask if they are a qualfied tax agent.
I would panic if I woke after surgery to find someone who works 4 hours a day did my surgery while the neurosurgeon just signed off on it and checked the finished job.
Why would you query such a "simple tax return" ?
If its that simple then do your own.
My point is, we use professionals for a reason.
I have Trusts and use an accountant - and pay top $.
I touched on this in another thread. I do my own return via etax.
The most time consuming part I find doing my tax is getting all the figures together which I would have to do regardless of doing it myself or with an accountant. It's just kind of become a habit now because I started doing it myself when I had nothing I have just kept doing it as I acquired more stuff.
The most time consuming part I find doing my tax is getting all the figures together which I would have to do regardless of doing it myself or with an accountant. It's just kind of become a habit now because I started doing it myself when I had nothing I have just kept doing it as I acquired more stuff.
I am a top trust and tax accountant and wish I had more clients who want to pay top $.
This brings me to my annual tax reduction offer. Any taxpayer wanting to inflate their deductions pls contact me. I am always happy to invoice and receive payment for tax deductible fees and assist you to lower your taxes...
This brings me to my annual tax reduction offer. Any taxpayer wanting to inflate their deductions pls contact me. I am always happy to invoice and receive payment for tax deductible fees and assist you to lower your taxes...
Paul
Drummond v fct and our friend bonnell v fct. Would be non deductible
Drummond v fct and our friend bonnell v fct. Would be non deductible
