Why is an accountant important for business?
An accountant can be one of the most beneficial investments to businesses big and small. For a business to succeed, it must turn over more profit than it outlays in expenses. Unless you have up-to-date books with income and expenditure tracking, this can be very hard to gauge. Moreover, without an accountant to set up the correct business structure, you may be paying thousands more in tax than required. These benefits are just the tip of the ice-burg. Read our post ‘How an Accountant Can Help a Small Business‘ to understand the full benefits of business accountants.
According to NAB’s ‘Key insights into the Australian accounting industry’ report, accountants are the most important professional service provider in terms of small and medium-sized enterprises, with almost nine in 10 SMEs (85 per cent) relying on an accountant at some point.
Grow Advisory Group’s able accountants understand the financial aspects of a business. Our team provide a number of key services and solutions to businesses to aid business decisions and growth. We work with clients to understand their current financial position and recommend new accounting services to give them a much-needed leg up. We can implement the latest cloud-based accounting software for better bookkeeping and can assist with Payroll. Common services provided include bookkeeping, taxation advice, cash flow reporting, and financial advice.
Whether you’re new to business or have been running your business year after year, it’s never too late to look to a new approach. Our accounting firm may make all the difference. Contact us today to speak to one of our business accountants Gold Coast.
What can an accountant do for me, as an individual?
Accountants are often thought only to be useful for businesses. However, this is not the case. Accountants can help all people, regardless of their stature or position. If you want to receive the biggest tax return you’ve had in years, if not ever, then an accountant can help secure this. If you need superannuation advice to ensure your years of contributions pay off in the long run, then turn to an accountant. If you need assistant with your rental property finance reporting; whether it be depreciation, tax minimising, capital gains etc., then using an accounting firm will present you with the help you need. Accountants can also assist individuals with Capital Gains Tax (such as the sale of a home) and can take on the financial accounting responsibilities of a deceased estate.
Accountants such as Grow Advisory Group, have years of experience dealing with personal accounting matters such as those above and can recommend strategies and solutions to help reduce tax and maximise wealth.