Tips on How to Find a Tax Advisor That Ticks All of the Boxes

If you’re reading this then it’s likely that you’ve never had dealings with an accountant or tax advisor before. However, it’s good that you’re here because it shows that you have an interest in hiring a professional to assist you with the more complicated, tax-related dealings that can be terribly overwhelming for the inexperienced. That being said; how can you differentiate the professionals from the cowboys? Anyone can claim to be an accountant or a professional tax advisor, but that doesn’t necessarily mean that they are either qualified or able.

Don’t worry though, we’re here to guide you so that you can make a well-informed decision for yourself. Accepting the assistance of a tax advisor is a big step, – one that can be of huge benefit to you when done correctly. Sharing your sensitive information with someone else requires a great deal of trust, particularly when it comes to your finances. This is why trust is important above all else when it comes to the client/tax advisor relationship.

What Should You Look for in a Tax Advisor?

  • When it comes to tax advice, you will need to double check with your prospective tax advisor that they have the relevant expertise that you are looking for. Perhaps ask about current or previous clients and any experience that they might have.
  • Aim to work with a business of a similar size to your own as they will have first-hand experience of the challenges that you face. That being said; you should not write larger firms off – They will have a wealth of representatives who will have the relevant experience, in which case you should find out exactly who would be taking care of your account.
  • Would you prefer to work with someone who has experience in dealing with other clients in your industry? Understand that this isn’t an essentiality. It certainly helps to have experience in your industry, though if they have been in the game for a long time, their knowledge of other industries will certainly be helpful. Weigh up the pros and cons.
  • Do you want your accountant or tax advisor to handle everything for you? Some companies only specialise in certain areas, which means that if you require additional services, you might have to look elsewhere. Be realistic about your needs both now, and in the future.
  • Are you familiar with them? What is their reputation like? When it comes to finding out about a prospective accountant or tax advisor, ask around with friends, family and associates to see if you know anyone who has had previous dealings with them. Everyone will claim to be the best in the business, but that doesn’t necessarily make it so.
  • You must ensure that they have all of the relevant licensing and qualifications required to offer you sound and well-informed advice. Don’t be afraid to ask to see their certification, it’s a perfectly acceptable expectation. Of course, if you’re uncertain as to what you should look out for then you should pay a visit to the AASB (Australian Accounting Standards Board) website.
  • How will they keep you informed and up to date? You should aim to work with a company that has embraced current technology and is not only willing to see you face to face as often as you require; but has the means to keep you updated via different avenues.

Make Contact with Your Prospective Tax Advisors

Getting in contact with a number of short-listed candidates is a great way for you to establish an initial relationship. This will help you to get an idea as to what it would be like if you were to partner with them. How well do they communicate with you? How enthusiastic are they when the handle your query and answer your questions? Did they have many questions for you? This may seem a little trivial for an initial verbal contact, though it says a lot about the sort of company/tax advisor that you are dealing with. Simply put, you should never settle for anything less than what you deserve, – which of course, is the very best.

Feeling overwhelmed by it all? If you have any further questions or if you would like to explore our services, – please feel free to get in contact with us today. We’ll be more than happy to advise you in any way that we can.