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Small business accountant: tax tips for small businesses in Melbourne

The three-letter word that gives a lot of small business owners in Melbourne a massive headache – tax! Do you know that over 80% of small business owners actually hire professional accountants externally to handle tax? And the main reason to do so is because it is just too complicated to do it themselves.

Here are a few useful tips to help small business owners when handling taxes.

1. Look ahead, plan ahead and prepare ahead.

Tax time should never be a last minute task, small business owners have to be prepared in advance. Nothing is more stressful than leaving everything to do when the dateline is nearing. You won’t want to lose focus on your business because of taxes.

2. Maybe use a payroll service?

Small business owners have a lot of taxes to handle, for example, federal, state and local payroll for your employees. Payroll can be really time consuming and complicated to figure out, so by hiring external help, you can use your time wiser on expanding your business or increasing your sales.

3. Know the deductions.

When comes to taxes, you should be very aware of what is deductible and what is not. There are heaps of things associated with deductions and are you confident to do it yourself?

If not, hire a professional to do it. If you are looking for someone to help, contact mas soon! Based in Sydney and Melbourne, we are a group of professional accountants who are passionate in taking off the accounting burden off our clients.

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