Tax season can be a stressful time for many business owners, but what if your accountant could help you stay ahead of the game all year round? Look for accountants who offer proactive tax planning services, this means they help you with things like tax optimisation, year-round financial advice, and tailored long-term plans, to not only reduce your tax liability but also help your business thrive.  

Here are the 6 main differences between an accountant who offers Tax Planning vs a traditional one:

1. Proactive vs. Reactive 

Proactive Accountant: Anticipates your needs and offers strategies to optimise your tax liability throughout the year. Opportunities like pre-paying expenses, better manager your stock/inventory, superannuation contributions and more. 

Traditional Accountant: Focuses on preparing and lodging your tax returns, often too late to make changes to your business finances. 

2. Year-Round Strategy vs. Year-End Crunch 

Proactive Accountant: Works with you year-round to implement strategies, so you’re always ahead of the game. 

Traditional Accountant: May only see you at the end of the financial year, missing out on opportunities to save. 

3. Holistic Advice vs. Basic Compliance 

Pro Active Accountant: Provides comprehensive advice, considering your entire financial picture to optimise your entire position including your tax position. Do you have multiple businesses, Sole Trader vs Company? These are all considered in your Tax Planning. 

Traditional Accountant: Primarily ensures you’re compliant with tax laws, without necessarily looking for ways to improve your financial health or deep dive into your finances. 

4. Tailored Solutions vs. One-Size-Fits-All 

Pro ActiveAccountant: Offers customised strategies that align with your business goals and personal financial situation. They will look at your future needs and goals in order to give you the most strategic advice. 

Traditional Accountant: May provide generic advice, not tailored to your specific personal and business needs. 

5. Long-Term Savings vs. Short-Term Fixes 

Pro Active Accountant: Focuses on creating long-term tax savings and building your financial future in life and in business. 

Traditional Accountant: Deals with immediate tax filing requirements, often without a long-term perspective. 

6. Technology-Driven Solutions vs. Traditional Methods 

Proactive Accountant: Utilises advanced software and tools to provide real-time data analysis and insights, helping you make informed decisions.  

Traditional Accountant: Relies on traditional methods and basic level of input, which may not provide the same level of detailed and timely information. 

Are you ready to experience the difference starting with Tax Planning? 

Contact us today to learn more about how we can support your business with our tailored, proactive accounting services. 

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6 Comparisons: Proactive Accountant vs. Traditional Accountant