Is it worth it to hire an accountant? 

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accountsnext
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Location: Melbourne, Australia

Joined: 8/31/2020
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Preparing Tax Returns

It's even harder if you have a small business, multiple incomes, an investment property or just a pile of receipts you'd rather not deal with.

But even if your tax seems relatively simple, the question of whether to get an accountant to help might have crossed you mind.

"It is a good idea to assess your needs for an accountant each and every year," says Laura Higgins, ASIC senior executive leader.

"Some years your tax situation may be straightforward, and you feel confident to do it yourself. Other years you may need the help of a professional."

So how do you decide the best course of action?

If you only have one income, minimal items to claims and good record keeping, lodging a tax return through MyTax is relatively straightforward, says Ms Bain.

"The ATO has a lot of data it prefills into your return. It will have information like your employer salary, tax withheld, interest — even if it's 5 cents you got from the bank, and things like dividends.

"It will just be a matter of checking it's right, because it is still your responsibility."

Deductions, however, won't show. So you'll need to keep track during the year and keep necessary receipts too.

https://theaccountantsmelbourne.wordpress.com/2020/08/31/is-it-worth-it-to-hire-an-accountant/

  Monday, August 31, 2020 at 7:09:10 AM
tracyvernn
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Joined: 9/2/2020
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  Saturday, September 5, 2020 at 3:07:39 AM

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