Tax regulations can be overwhelming for business owners who lack formal training or experience in finance. As part of our tax compliance and advisory service, The Co. tax accountants take the stress out of the equation. The key to simplifying tax compliance is proactive planning, strategic structuring, and staying ahead of the game to make the right decisions throughout the year.

We’re here to guide you through the complexities of taxation, offering expert support to keep your business on track. Here’s what to expect from our tax advisory and accounting service.

1. Compliance

   One of the main responsibilities of a tax accountant is ensuring that you meet all of your tax obligations and adhere to regulations, otherwise known as compliance. This involves accurately reporting income and expenses, filing returns on time, paying owed taxes, maintaining proper records, and staying informed about tax laws to avoid penalties.

2. Tax Planning and Strategy

   A tax accountant isn’t just someone who deals with numbers during tax season — we’re a valuable resource year-round. Our team will ensure effective tax planning that allows you to make strategic decisions and minimise any liabilities.

3. Business Structure and Setup

   If you’re starting a business, one of the most important decisions you’ll make is choosing the right legal structure. Whether you’re setting up a sole proprietorship, partnership, Pty Ltd, or corporation, the tax implications of each structure vary.

4. Audit Support and Representation

   If the tax authorities ever choose to audit your tax returns, having a tax accountant on your side can make the process much smoother. We’ll put together the necessary documentation, represent you during the audit, and work to resolve any issues with the auditors. In many cases, having an accountant’s expertise on-side can result in a more favourable outcome, such as reducing penalties.

5. Ongoing Advisory Services

   Tax laws are constantly evolving, so staying up-to-date on any changes is important. As your tax accountant, we’ll provide ongoing support to ensure you’re compliant with the latest regulations. This includes offering advice on new tax incentives or deductions that may apply to your situation.

6. Personalised Service

   At the core of what you can expect from The Co. tax accountants is personalised, one-on-one service. Our approach involves taking the time to understand your unique financial situation and goals, to provide tailored advice and services accordingly. This relationship goes beyond simply filing taxes; think of us as trusted advisors who can guide you through complex financial decisions.

7. Broader Financial & Business Advisory

   Tax is one piece of the puzzle, but there are so many other ways we can work collaboratively to ensure your business thrives. Our detailed-oriented business accountants have a wealth of experience in delivering growth strategies for clients across a wide range of industries. Explore our advisory service if you’re looking for a comprehensive roadmap towards success.

The role of a tax accountant is varied. With expert guidance, our primary aim is to help you keep more of your hard-earned money where it belongs — in your pocket. If you’re ready to take control of your tax situation, get in touch with The Co.’s top tax accountants in Melbourne. We’re here to help.