Every year at tax time people are asking themselves the question “should I try to do my own taxes or hire a tax accountant?” In a recent survey, over 75% of Australian small business owners sought the services of a tax professional, to give you an idea which way the majority are leaning.
But what about you? It really depends, if you are an individual with a very basic income stream it may be simple enough to do your returns yourself. It might also be the case that you don’t have the right skills to run all the complicated maths, and it might even just be that you absolutely hate even the thought of trying to accomplish what many people feel is an onerous task.
Why you need tax accountants
If you are running a small business, or your personal taxes are complicated due to various factors, the ease and security of hiring tax accountants in Sydney to take the burden from you is well worth the added cost, which is really very reasonable considering how much it frees you from the stress of performing the task yourself, especially with the real possibility of making an even more expensive error. The educated advice of a professional tax accountant will save you stress, time, and money because you won’t risk paying any fines!
So, let’s spell this out a bit more. Here are some really good reasons to give your taxes over to the professionals:
Stress – It was reported that over 40% of Australians undergo severe stress over their finances every year. If you decide to handle the responsibility of doing your taxes, any errors you make will fall right back into your lap. Is it really worth it to take on such a stressful task, considering all the dire health hazards that being stressed has been proven to induce in human beings? Hiring a tax accountant gives you the advantage of knowing for sure that everything will be correctly prepared and that you are properly following the often complex tax laws, allowing you to relax and breathe easy, success is guaranteed.
Saving Time – Facing your tax return on your own might look like an attractive option at first, but even with the help of online tax tools the right answers are not always so simple, and you are looking at hours of toil. In general, an appointment with a professional tax accountant will only take about an hour of your time, and once again, save you a lot of stress.
Maximise Your Returns – Along with all the other perks like minimising your expenditure of time, anxiety, and money, your trusty tax accountant will be able to ensure that your returns are maximised. These professionals understand the complex ins and outs of what deductions you can claim, and which you can’t, with the result of saving you even more money than you had expected! If you still decide to go it alone, here is the link to the Australian government’s tax return site, enjoy!