May 17

When is the best time to talk to your accountant?

Do you spend much of the year actively trying NOT to talk to your accountant? Hiding under the heap of work on your desk? And only picking up the phone as the end of the tax year approaches?

talk to your accountant regularly

Well, knowing a few accountants myself, I can understand why that might be!

However, I’m happy to tell you we’re not all like that – and, in any case, it’s not a smart way to run a business.

Some of us accountants are actually personable human beings—we care about the success of our clients and their businesses. We ask questions before we offer solutions and realise that the decisions we help our clients make often have a profound impact upon their businesses.

Anyway, enough about me…

When is the best time to talk to your accountant, assuming you have already hired one?

Talk to your accountant – especially at prime time!

Picking up the phone to talk to your tax accountant should never be considered a waste of time. The likelihood is that they can offer more advice than simply how and when to lodge your tax returns.

In fact, if your accountant isn’t talking to you regularly, especially at this time of year, you may have a problem. A big problem.

Why? Because this is prime time.

What do I mean by that?

Well, it’s prime time for your accountant (or us) to really make a difference for you and your business. Before the end of the financial year on the 30th of June, you need to plan out your tax position for the year, and together with your accountant, make valuable decisions that could save you thousands in the coming year.

Talk to your tax accountant BEFORE it’s too late

There is so much that your accountant can do before the financial year is over.

Including but by no means limited to:

  • preparing updated financial information
  • looking at projected income and expenses running up to the end of the tax year
  • meeting to work out how to minimise your tax position within legal limits.

Tax may not be the most exciting topic but you need to be on the front foot with it and recognise it for what it is – a great opportunity for your business to save money.

This is our busiest time of year for good reason.  In actual fact, it’s busier than the tax season. It’s when the smartest businesses are contacting us to get prepared for the end of the year.

It’s also the time of year that I enjoy the most because we can make a real difference to businesses. And our clients end up loving us for it!

As accountants and business owners, we always need to be looking into the future, planning, projecting and making decisions based on past results.

So, talk to your accountant now, and start looking forward. Before it’s too late.

Need help now? Talk to me.