What Do Tax Return Accountants & Tax Agents Do?
To maximise your tax return at tax time, it is highly recommended that you get an accountant to help with the tax, accounting, and bookkeeping services. They are essential to your business operations and financial activities.
IJ & EA Accounting Services has tax solutions to prepare and lodge your business tax returns.
Whether you have tax liabilities or a range of tax-related issues, our tax consultants in Brisbane work in all-ranging tax-related services such as tax filing, management, compliance, assessment, tax advisory, and guidance on tax deductions for your personal and business tax refund.
Our tax agents enable you to stay in the game, remain up-to-date with the latest accounting laws and regulations, and plan ahead of time to ensure seamless business operations.
One of the main reasons your business needs Tax Works or Services is to lodge tax returns, assess your previous tax reports, and anticipate the expected tax return for the current and upcoming years. In addition, Tax Works include tax planning, which provides you peace of mind as you have a good strategy from day one.
Tax Works also includes tax calculations, which allow you to anticipate your expenditure and deductions. Tax filing and returns, part of tax services, enable you to meet the compliance requirements from the government.
Is it worth getting a registered tax agent to do your tax?
Whether you are a sole trader or business owner, your business must consult a professional accounting firm for Tax Works or Services due to the growing complexity of the legislation. In this growingly complex economy, the tax rules have also become more and more complicated, with new regulations being introduced yearly. As a result, there is a necessity for technical knowledge of taxation rules and legislation to calculate, plan, assess and manage tax-related aspects of your venture.
The Brisbane Tax and Accounting Services at IJ & EA Accounting Tax Services are equipped with technical knowledge and hands-on experience, guaranteeing complete taxation services for your business. With the guidance of our experts, you can plan ahead of time and remain compliant with the current legislation.
Our areas of expertise include the following:
- Tax Accounting and Consulting
- Tax Reporting
- Tax Calculations
- Tax Planning and Compliance
- Tax Return Filing
- Tax Structuring
- Tax Advisory
Our goal at IJ & EA Accounting Tax Services is to offer you a comprehensive range of services tailored to each of our clients.
Tax Accounting and Business Tax Consulting
Because our tax agents are based in Brisbane, we offer one-to-one consulting services to our clients. Equipped with technical knowledge of tax laws and the latest revisions in tax legislation, our team will provide you with counselling on all finance-related matters of your business.
Our tax accounting and consulting services include the following:
- Advise on tax returns, maintaining trust, and maximise your return
- Assisting with tax return preparations
- Analysing areas of business enterprise where taxes can be deducted or reduced to minimise your burden
- Handling taxes with owned or rental property
- Assisting you in managing taxes on business ventures or personal capital gains
Brisbane Accountants and Tax Reporting, Tax Done Right
Our practice offers tax reporting services to many industries, allowing them to know their tax obligations and maintain accurate financial statements by the year’s end. Tax reporting is crucial when maintaining your business records as it impacts your tax calculations, which is necessary for upholding your business’ transparency.
The tax reporting services our accountants offer comprise all the aspects of your business’ tax provision. Tax reporting primarily aims to report the income generated through business activity to authorities. This ultimately serves as proof of your valid and authentic tax provision.
Our services include the preparation of your annual tax returns, including accurate calculation of your business’s taxable income, deductions, capital gains and losses. We also guide filing requirements, deadlines and consequences of non-compliance. Our team is knowledgeable in corporate taxes, allowing us to accommodate businesses operating in multiple jurisdictions.
Furthermore, our team can help you review your financial statements for correctness and accuracy before submitting them to the IRS or other revenue authorities. This ensures you are paying the right amount of taxes and will not be subject to penalties or fines for incorrect filings.
As well as providing tax reporting services, our accountants can assist with a wide range of other solutions, such as estate planning and property investment advice. Through these services, we can provide valuable insights into how best to structure your investments for tax efficiency purposes.
If you need assistance with any aspect of tax reporting or related solutions, contact our experienced team today. We promise to deliver sound advice and comprehensive solutions tailored to your requirements.
Our tax reporting includes generating Business Activity Statement (BAS).
This report includes the following:
- Recording taxes accumulated via GST
- Maintaining/Reviewing taxes deducted from employees’ earnings (if applicable)
- Recording the taxes paid by your business enterprise through instalments
In addition, our tax reporting service also includes maintaining your tax returns report.
The tax return report encompasses the following:
- Your income
- Your business income
- Tax claims and/or deductions
Tax Calculations
Our accountants hold expertise in tax calculations. Whether you are an individual or a business, tax calculations are the climactic stage of your tax filing. This is because the taxes you will be liable to pay by the year’s end depends on the accuracy of your overall tax calculations.
Our experts understand the complexities of calculating taxes. Utilising the information maintained throughout in the tax reports, our experts calculate your taxes in an error-free manner.
Tax Calculations for Individuals
Tax calculations are complicated; our accountants offer tax calculation services for individuals.
This includes:
- Figuring out your taxable income
- Establishing your deductibles, such as work-related expenses that you must have paid on your own, and maintain a receipt as proof of
- Factoring in other aspects, such as the amount owed to Medicare Levy
- Leveraging from deductions to minimise your tax burden and claiming adjustments and/or refunds
Tax Calculations for Businesses
Although the process of tax calculations for individuals and organisations is the same, there are other factors that our accounts consider when calculating taxes for businesses.
These include:
- Making adjustments for GST (if applicable)
- Leveraging from exclusive corporate taxes
- Minimising tax returns by deductibles
Tax Planning and Compliance
Tax laws and regulations vary from year to year and region to region. Our tax accountants are qualified experts with hands-on experience who stay up-to-date with the latest news and changes in these ever-evolving laws. This allows our tax accountants to assist individuals and businesses in planning their tax returns ahead of time and remaining compliant with the authorities.
Our tax planning and compliance services include the following:
- Approaching the individual or company’s financial reports for effective analysis
- Evaluating the individual or company’s current goals
- Review tax reductions and/or deductions
- Formulating tax plans in advance that enable the individual or company to achieve their objectives
- Computing and submitting tax returns
Income Tax Return Filing
The procedure for lodging your tax return is taxing. Not only should you have completed your reports before filing, but you must also be vigilant about putting inaccurate numbers and being transparent with information to comply with the laws.
For those with a basic tax return and fewer complications, it is easy to register with the (ATO) and file your tax returns. You can visit the official website of the (ATO) to sign up and lodge your tax returns. You’ll find all the necessary documentation listed on the official website.
However, individuals or businesses with a relatively complex financial landscape would need the assistance of our tax accountants.
Tax Structuring
For most individuals and businesses, the tax remains the largest cost. Most individuals or businesses seem to lose a large portion of their profit due to taxes. Our accountants understand how taxes can adversely impact an individual or company’s financial goals and offer tax structuring services to assist them.
Our tax accountants employ effective structuring techniques, enabling them to offer incredible solutions for all taxes. Our accountants will examine your financial standing – from your personal to your company’s assets, transactions and other operations to factor in the areas where taxes can be reduced, deducted or claimed for refunds.
Through our tax structuring services, you can plan and structure your tax returns in the most cost-efficient manner while avoiding any penalties.
Tax Advisory
Tax planning is essential for all, whether you are a new business entering the market, a highly sought-after large-scale company, or just an individual trying to navigate the system. However, tax planning is often overlooked, leading to high costs, risks and later poor cash flows.
Our tax accounts offer tax advisory services to avoid all such problems. No matter what stage you’re in, tax advice is critical for your financial growth. With efficient tax planning achieved through on-time tax advisory, you can meet your personal or business objective, avoid unnecessary tax costs, and enjoy an improved cash flow.
Our tax advisory service includes:
- Devising client-tailored solutions to help you achieve your financial goals
- Offering insight into corporate tax risks
- Developing strategies for improved tax management
- Providing assistance and support during audits
- Guiding in complying with Australian tax laws
