Are You a professional person, someone who has spent a number of years at university to obtain a skillset that few other people have?
And furthermore, have you then started a business or entered into a business partnership with like minded professionals so that you can use the skills you have worked so hard to attain?
If you are such a person, then you NEED an accounting firm that understands you and understands how to look after people like you. Here are the reasons why:
- You are often time poor when it comes to doing administrative chores because your professional skills earn you more per hour than most people, so why should you spend more time doing lower value administrative work? But it does mean that you need an accountant that understands this and helps you complete your tax work without wasting too much of your valuable time.
- You easily forget tax deadlines because you are busy doing your important work, so you need an accountant that reminds you when these are due.
- Your business is complex, requiring a skilled set of employees and specialised equipment. You also have complicated business structures to deal with this and possibly to deal with the introduction of business partners. You need an accountant that knows how do deal with complicated business structures which often include a mix of family trusts, unit trusts and companies.
- Because you are a skilled person, you earn an above average income. You need an accountant who gives in depth tax minimisation advice and pro actively helps you to reduce your tax. This can be complicated particularly if you operate out of a mix of structures such as companies and trusts.
It’s not surprising therefore that most accounting firms are not suited to looking after professionals like you because they target a wider and very general market that has much simpler requirements.