What Are Tax Return Accountants?
Accounting and taxation services are an essential part of your business operations and financial activities to maximise your tax return. IJ & EA have accountants in Brisbane that work all-ranging tax-related services such as tax filing, management, compliance, assessment, tax advisory and etc. Our tax agents enable you to stay on top of the game, remain up-to-date with the latest accounting laws and regulations, and plan ahead of time to ensure seamless business operations.
One of the main reasons why your business needs Tax Works or Services is to assess your previous tax reports and anticipate the tax return expected for the current and upcoming years. In addition, Tax Works includes tax planning, which provides you a peace of mind as you have a good strategy from day one. Tax Works also includes tax calculations, which allows you to anticipate your expenditure. Tax filing and returns, part of tax services, enable you to meet the compliance requirements from the government.
Is it worth getting an accountant to do your tax?
It is crucial for your business to consult a professional accounting firm for Tax Works or Services due to the growing complexity of taxation legislation. In this growingly complex economy, the tax rules have also become more and more complicated with new regulations being introduced every year. As a result, there is a necessity of technical knowledge with taxation rules and legislations in order to calculate, plan, assess and manage tax-related aspects of your venture.
The Brisbane Tax Accountants at IJ & EA Accounting Tax Services are equipped with technical knowledge and possess hands-on experience, guaranteeing complete taxation services for your business. With the guidance of our experts, you can plan ahead of time, and remain compliant with the current legislation.
Our areas of expertise include:
- Tax Accounting and Consulting
- Tax Reporting
- Tax Calculations
- Tax Planning and Compliance
- Income Tax Return Filing
- Tax Structuring
- Tax Advisory
Our goal at IJ & EA Accounting Tax Services is to offer you a comprehensive range of taxation services that are tailored to each of our clients.
Tax Accounting and Consulting
Because our tax accountants are based in Brisbane we offer one to one consulting services to our clients. Equipped with technical knowledge of tax laws as well as the latest revisions in tax legislations, our tax accountants provide you with counselling on all finance-related matters of your business.
Our tax accounting and consulting service includes:
- Advise on income tax returns, maintaining trust, and dealing with other types of taxation
- Assisting with income tax return preparations
- Analysing areas of business enterprise where taxes can be deducted or reduced to minimise your burden
- Handling taxes with owned or rental property
- Assisting you to manage taxes on business ventures or personal capital gains
Our tax accountants offer tax reporting services to a wide array of industries, allowing them to maintain accurate financial statements by the year end. Tax reporting is crucial when maintaining your business records as it impacts your tax calculations, which is necessary in upholding your business’ transparency.
The tax reporting services offered by our accountants comprises all the aspects of your business’ tax provision. The main purpose of tax reporting is to report the income generated through business activity to authorities. This ultimately serves as proof of your accurate and authentic tax provision.
Our tax reporting includes generating Business Activity Statement (BAS). This report includes:
- Recording taxes accumulated via GST
- Maintaining/Reviewing taxes deducted from employees’ earnings (if applicable)
- Recording the taxes paid by your business enterprise through instalments
In addition, our tax reporting service also includes maintaining your income tax returns report. The income tax return report encompasess:
- Your individual income
- Your business income
- Tax claims and/or deductions
Our taxation accountants hold expertise over tax calculations. Whether you are an individual, or a business, tax calculations are the climatic stage of your tax filing. This is because the taxes you will be liable to pay by the year end depend on the accuracy of your overall tax calculations.
Our taxation experts understand the complexities of calculating taxes. Utilising the information maintained throughout in the tax reports, our experts calculate your taxes in an error-free manner.
Tax Calculations for Individuals
- Tax calculations are complicated, our accountants offer tax calculation services for individuals. This includes:
Figuring out your taxable income
- Establishing your deductibles such work-related expenses that you must have paid on your own and maintain a receipt as a proof of
- Factoring in other aspects such as the amount owed to Medicare Levy
- Leveraging from deductions to minimise your tax burden and making a claim for adjustments and/or refunds
Tax Calculations for Businesses
Although the process of tax calculations for individuals and organisations is the same, there are certain other factors that our accounts take into consideration when calculating taxes for businesses.
- Making adjustments for GST (if applicable)
- Leveraging from exclusive corporate taxes
- Minimising tax returns by deductibles
Tax Planning and Compliance
The laws and regulations regarding taxes vary not only from year to year, but also from region to region. Our tax accountants are qualified experts with hands-on experience who stay up to the minute with the latest news and changes in these ever-evolving laws. This allows our tax accountants to assist individuals as well as businesses in planning for their tax returns ahead of time and remaining compliant with the authorities.
Our tax planning and compliance services include:
- Approaching the individual or company’s financial reports for effective analysis
- Evaluating the individual or company’s current goals
- Review tax reductions and/or deductions
- Formulating income tax plans in advance that enable the individual or company to achieve their objectives
- Computing and submitting tax returns
Income Tax Return Filing
The procedure for lodging your income tax return is taxing. Not only should you have completed your reports prior to filing, but you also need to be vigilant about putting in accurate numbers and being transparent with information in order to comply with the laws.
For those with a basic income tax return and fewer complications involved, it is easy to register with the Australian Tax Office (ATO) and file your income tax returns. You can visit the official website of the Australian Tax Office (ATO) to sign up and lodge your tax returns. You’ll find all the necessary documentation listed on the official website.
However, individuals or businesses who have a relatively complex financial landscape would need the assistance of our tax accountants.
For most individuals and businesses, tax remains the largest cost. In fact, most individuals or businesses seem to lose out on a large portion of their profit due to taxes. Our accountants understand how taxes can adversely impact an individual or company’s financial goals, and offer tax structuring services to assist them.
Our tax accountants employ effective structuring techniques, enabling them to offer incredible solutions for all sorts of taxes. Our accountants will examine your financial standing – from your personal to your company’s assets, transactions and other operations in order to factor in the areas where taxes can be reduced, deducted or claimed for refunds.
Through our tax structuring services, you can plan and structure your tax returns in the most cost-efficient manner, while avoiding any sorts of penalties.
Whether you are a new business entering the market, a highly sought-after large scale company, or just an individual trying to navigate their way around taxation, tax planning is essential for all. However, in most cases, tax planning is often overlooked, which leads to high costs, risks and poor cash flows later on.
Our tax accounts offer tax advisory services in order to avoid all such problems. No matter what stage you’re in, tax advice is critical for your financial growth. With efficient tax planning achieved through on-time tax advisory, you will be able to meet your personal or business objective, avoid unnecessary tax costs, and enjoy an improved cash flow.
Our tax advisory service includes:
- Devising client-tailored solutions to help you achieve your financial goals
- Offering insight on corporate tax risks
- Developing strategies for improved tax management
- Providing assistance and support during audits
- Providing guidance in complying with Australian tax laws