Your business no doubt employs an accountancy firm, and they probably do a pretty good job of tracking your finances and filing your taxes. Do you know that there is so much more a business tax accountant can do for your enterprise?
When an accountant is proactive, they don’t just fill out forms and file on time. They are actively involved. A proactive accountant looks at the whole picture – they analyse all aspects of your business, research your markets, and talk with you about your plans. They propose strategies to minimise your tax, and to maximise your financial strengths. They help identify tax and revenue related problems, and they help solve them. A proactive business accountant is a long-term ally and a reliable partner to your success.
Your Trusted Partner for Business Accounting
Taggart & Partners are a leading Brisbane-based business accounting firm, with many years of experience as business advisors assisting medium and small businesses to reach new levels. You know your business best – we know how to listen. We will share our expertise, and draw on our extensive background to point out real-world approaches and solutions. Take the first step – call us on (07) 3391 1188, e-mail enquiries@taggartandpartners.com.au or get in touch online.
The Many Advantages of a Proactive CPA
Here, we look at some of the ways a proactive accountant will open new doors —
Tax Reduction
A proactive accountant will go beyond generalised advice regarding tax reduction to find the full range of advantages available to your business. This requires a much more thorough look at the enterprise – because not all solutions work in all cases. They will offer ways to optimise business structure, and implement asset and risk protection. They will use the most current tax information to bring your tax liability as low as possible, freeing up capital to help your business flourish and grow.
Tax Planning
Being ready to file and pay taxes is as important as arranging to pay the minimum legal amount. A proactive CPA will plan and schedule your tax filing, being ready well before deadlines. Many advantages and entitlements that may be available to your business can easily be overlooked in a rush to complete just before tax time. Looking ahead, a proactive business tax accountant will estimate your tax position for the upcoming year, and help plan cash flow to maximise tax benefits.
Business Structuring
Often overlooked in business tax considerations, how your business is structured may have major impact on your tax liability. Proactive tax planning finds advantages that may be available if structure is altered to a more suitable form. This requires a thorough understanding of tax law and the fine details of business structuring.
Growth Strategies
Along with the business growth we all want comes the risk of getting over-extended and taking on too much debt to finance expansion. A proactive CPA will look at the long term and help plan stable, organised progress toward business goals, consistent with your financial position.
Cash Flow Management
Even the most successful enterprises can have unanticipated issues with cash flow, making it difficult to meet day to day costs and to cover tax and super obligations. A proactive business accountant knows how important this is, and will be able to propose innovative, real-world cash flow strategies to ensure the business keeps moving forward.
Asset Protection
Shielding your personal and business assets from trouble is a major concern for a proactive accountant. Structuring and tax positioning are important tools to protect assets you may have spent years building up. Knowing how to use these effectively requires long experience and practice.
Ready to Work for You
Taggart & Partners are ready to implement all these and more, to benefit your enterprise. We have assisted so many fine businesses to reach their best outcomes. Let us do this for you. Call us on (07) 3391 1188, e-mail enquiries@taggartandpartners.com.au or get in touch online. It only takes a moment to begin years of continued and increasing success.