Who are you getting your tax advice from?

The other day at kindy pick-up, I overheard a small business owner getting some backyard tax advice from someone who didn't know what they were talking about.

This person didn't want to ask their Accountant for advice. They were complaining that the Accountant was too expensive, particularly as they were getting billed in 10 minute increments, for every small email or 1 minute phone call question.

If you want to learn more about your own small business tax issues, the Australian Taxation Office (ATO) recently released a series of FREE tax webinars that you may find interesting. The webinars are great for people who are starting a new business, are thinking about starting a new business, or for those who just want to update their knowledge.

Webinar topics include income tax deductions, home-based business, motor-vehicle deductions, concessions for small business, activity statement essentials, goods and services tax, budgeting and record-keeping, small business assistance, employer obligations and issues for contractors.

Here's a link to the ATO's webinars: ato.gov.au/busreg

I always recommend that you seek an Accountant for tax advice. Getting advice from someone who doesn't know what they are talking about could cost you a lot more than an Accounting Fee.

If you're Accounting Fees are stacking up, it might be a good idea to look at your payment structure.

When starting my own accounting practice, I wanted to overcome the common issue of clients complaining about their fees. I knew from personal experience how quickly the bills can rack up when dealing with professional advisers.

I've found that offering a Fixed Fee Accounting Service encourages communication and strengthens my relationship with my clients - they're not busy worrying about how much each phone call, email, or meeting is costing them.

I like to think this gives my clients peace of mind - they're getting affordable advice (that's financially manageable) from a professional, not the neighbour's/uncle's/dad's budgie!


Miriam Clappis is a CPA and has completed a Bachelor of Laws (Honours), Bachelor of Commerce (Corporate Finance) and a Bachelor of Economics from The University of Adelaide. Miriam is due to complete a Masters of Taxation  in 2013 at Curtin University and has commenced a Masters of Laws at The University of Adelaide.

Follow Miriam (aka @theNumbers_Lady) on Twitter.