Looking for help with your taxes? Smart move, because DIY-ing it is rarely worth it. Yet not all tax agents are created equal. Knowing how to choose which tax agent is right for you can require a bit of careful thought.
While part of it comes down to your situation and personal preference, there are a few qualities that you should always look for if you want to get your money’s worth.
1. Look for a well-established company with years of market experience.
You’d be surprised how many registered tax agents quickly spring up each year, only to disappear just as suddenly.
Tax is one of those things that is easy to learn but takes years to master, and a relatively inexperienced tax agent may not fully understand the complexities or specifics of your situation. It’s likely they’ll take a cookie-cutter approach, cutting corners and leaving you with less cash in your pocket. Even worse, you could end up exposed to an ATO audit.
Sure, it might feel tempting to hire that cheap freelancer you saw online. But you’re much better off going with a tax service that’s been around forever and has plenty of diverse industry experience. Longevity is a sure sign of integrity, and integrity is the most important thing to look for when you’re entrusting your finances to someone else.
2. Tax agents do more than file tax returns. It’s about building a wall between you and The ATO.
You’d be forgiven for not realising that a good tax agent should be doing more than just filing your return once a year. After all, the big players like H&R Block don’t exactly make it obvious, because their business model relies upon quickly churning through as many customers as possible.
But if your tax agent is taking a love-it-and-leave-it approach, you’re definitely not getting your money’s worth. A good one will make themselves available to you whenever The ATO comes calling, not just when it’s time to file your return. Just say ‘Speak to my tax agent!’ if The ATO contacts you. This is especially true if you’re running an SME or involved in a company.
Read More: Don’t Speak To The ATO Yourself!
Your tax agent is authorised to speak with The ATO on your behalf, and it’s one of the most valuable services that they offer. This creates a wall that protects you from liability and risk, ensuring that your taxes are always under expert supervision. No more worrying about triggering a bureaucratic nightmare just because you said the wrong thing on the phone!
3. Individuals and Sole Traders should seek out affordable, fixed-price returns.
Last but not least, the cost is always an important factor. Few things feel worse than giving away half of your tax return just to get it filed. A lot of firms might seem cheap at first, but there are often lots of hidden fees that depend on your situation.
Instead, you want to look for a tax agent that offers affordable fixed price options and a maximum refund guarantee, like Ezytaxback. As Australia’s first fixed-price online tax agents, they’re experienced at delivering strong results at low prices. It’s a great option for individuals and sole traders, and best of all, it’s quick and easy.
By looking out for these 3 things – integrity, low costs and ongoing care – you’ll have an easier time choosing a tax agent that’s right for your needs and for your wallet.
Looking for a new tax agent? Consider EzyTaxback – they’re affordable, they’ve got lots of experience and they provide ongoing protection from The ATO. Their easy-to-use online service means that your return is completed quickly and without fuss.
Looking for a tax agent for your SME instead? Ezytaxback is a subsidiary company of Rees Group, a Melbourne advisory firm that’s been helping businesses succeed since 1950. Tax compliance is just one of the many services we offer – get in touch today to find out more.
The information in this article is of a general nature. It does not take your specific needs or circumstances into consideration. You should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.