Author Topic: MMM friendly accountants in Australia recommendations  (Read 929 times)

dystopic

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MMM friendly accountants in Australia recommendations
« on: June 12, 2018, 05:13:50 PM »
...aaand go! Thanks!

deborah

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Re: MMM friendly accountants in Australia recommendations
« Reply #1 on: June 13, 2018, 01:01:28 AM »
What do you mean by MMM friendly? Do you want someone cheap? And why do you want them - financial advice, do your business books...?

Grogounet

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Re: MMM friendly accountants in Australia recommendations
« Reply #2 on: June 14, 2018, 08:49:41 PM »
If it s for private, I can share what one accountant is sending me - Excel file with annotation - with me each year (I never signed up but he still sends it to me for some reason!).
I like to do it myself for two reasons:
- You learn a lot and you discover the mistakes that most accountants do - Yea, they do a lot of them!
- You save $100 minimum to do it yourself (I'm in Syd)

marty998

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Re: MMM friendly accountants in Australia recommendations
« Reply #3 on: June 27, 2018, 04:06:08 AM »
As with all things - you are going to get what you pay for.

Are your tax affairs basic or complex?

marty998

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Re: MMM friendly accountants in Australia recommendations
« Reply #4 on: August 05, 2018, 06:22:55 PM »
@dystopic how did you go finding an accountant? I see from your post history you have a lot of Cryptocurrency gains to sort out. Quite a hefty tax bill if you hadn't held them for a year so no CGT discount?

Grogounet

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Re: MMM friendly accountants in Australia recommendations
« Reply #5 on: August 05, 2018, 06:27:54 PM »
Nothing related to the above but I'm working on my taxes tomorrow. I started Sunday.
Appears that I did all wrong my calculations for last year and I didn't take into consideration dividends, nor filled any forms for US based index funds.
I got lucky but will make sure I take these into account for this year.
The joy of investing I guess!!

Evasion

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Re: MMM friendly accountants in Australia recommendations
« Reply #6 on: August 31, 2018, 12:59:09 AM »
Just wondering if you think it's worth it to use accountants?
My partner is not very mustachian and thought tax return was too complicated to bother with, so booked an appointment which was for a couple and convinced me to give it a go.
$206 later for me and $131 for her, our tax returns were done, but I really don't think the accountant was adding any value at all. He seemed to even struggle with reading our Vanguard statement.

This was with the cheap HR Accountant that are everywhere in Sydney.
Are they just bad or is there never any point getting an accountant if your tax affairs are relatively simple?
I have a ABN/sole trader side hustle, n office job, and I do passive index fund investing.

Interested in other Australians opinions.

marty998

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Re: MMM friendly accountants in Australia recommendations
« Reply #7 on: August 31, 2018, 07:17:27 PM »
Just wondering if you think it's worth it to use accountants?
My partner is not very mustachian and thought tax return was too complicated to bother with, so booked an appointment which was for a couple and convinced me to give it a go.
$206 later for me and $131 for her, our tax returns were done, but I really don't think the accountant was adding any value at all. He seemed to even struggle with reading our Vanguard statement.

This was with the cheap HR Accountant that are everywhere in Sydney.
Are they just bad or is there never any point getting an accountant if your tax affairs are relatively simple?
I have a ABN/sole trader side hustle, n office job, and I do passive index fund investing.

Interested in other Australians opinions.

I'd always recommend an accountant if you have a business. You may need specific advice if you have sold a Property for example, but for most other scenarios you should be able to do it yourself.

I would not recommend the cheap franchise accountants. You want an accountant who does tax for rich people, and who is familiar with investments. Not an accountant who does 300 tax returns a year for basic wage earners :)


Grogounet

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Re: MMM friendly accountants in Australia recommendations
« Reply #8 on: August 31, 2018, 09:20:45 PM »
+ 1
i have witnessed many doing mistakes on the returns
they are no liable for these you are
information is power, as usual :-)