The Benefits of Hiring Professional Business Tax Accountants
Submitting your business taxes and filing your return can be challenging and overwhelming. Not only can it be confusing and complicated, but doing it yourself could result in your company missing out on substantial deductions and savings or even incurring unforeseen fines or expenses.
So, why not hire a professional instead? The advantages to you and your business include:
Ensuring you comply with updated information and filing regulations: Trying to locate and understand the latest requirements can be frustrating or detrimental as not everything available is correct or advisable. Employing professional helps mitigate any misinformation and ensures your filing aligns with current regulations.
Ongoing access to financial insight: Your professional will be available outside of tax season as well, providing constant and consistent financial advice and guidance to assist with strategy, planning and decision-making throughout the financial year. As the most frequent concerns for small and large organisations alike revolve around finances and economic issues, having this insight on tap could prove invaluable.
Keeping more and better records: Your tax professional will encourage and help you improve your business expense recordkeeping quantity and quality. Detailed, well-organised and secure records will help optimise tax deductions and benefit your business through increased savings.
Maximising deductions and refunds: An essential benefit of hiring a tax professional is ensuring you make the most of available tax deductions. Thanks to their training and experience, your knowledgeable tax accountants will be aware of numerous ways to identify opportunities to maximise your deductions and refund.
Freeing up your time: As in other business spheres, outsourcing areas where you may lack proficiency to those with the necessary skills and knowledge makes good business sense. While your tax consultant is efficiently preparing your taxes and return, you can be focussing on growing your business and client or customer portfolio. Hiring a professional is the most cost- and time-effective choice while allowing you to continue your revenue-generating business activities.
Accuracy and compliance: Many people in your position are not entirely confident in their ability to competently fill out their organisation’s return, leverage available deductions, avoid fines and liabilities and tackle potential audits. In contrast, you can feel comfortable that your tax professional is highly proficient in all these matters. Their competency allows you the luxury of peace of mind that your records are adequate and updated, your returns professionally completed, and that you’re 100 percent on time and compliant. As a result, you can expect the maximum in savings and refunds.
A reputable tax consultant will make your life easier, keep your business on track and your revenues up. However, should you try to go it alone, you’ll soon discover there’s more to doing the taxes than filling in a form.
About Platinum Advisory
We are a multidisciplinary taxation and accounting firm. Our principal, Yousef Barry, has been dealing with tax matters for ten years with Platinum Advisory operating for two and a half with a broad client portfolio including industries such as professional services, pharmaceuticals, commercial, investment, construction, retail and more. In addition to tax consulting and accounting, we also advise on financial and management reporting and cash flow analysis.
So why not let us do your taxes and keep you compliant while saving you money and time or provide a business health check? You won’t regret it. Book your free appointment today or contact us to find out more.