Why Your Small Business in Fortitude Valley Needs an Accountant

In today’s extremely competitive world of business, it’s not easy to ensure your small company continues being successful. Establishing yourself is going to be tough when there’s likely already giants operating in your industry, and even though the Internet has global marketing possible for small businesses, your website will only be a drop in the ocean if it fails to attract readers.

Additionally, you now have lots of responsibilities that may be relatively unfamiliar to you, such as bookkeeping and paying your own taxes, but it’s crucial you do both of those tasks properly if you want to keep your company afloat.
If you don’t keep your books up to date and organised, you’ll find it very difficult to work out what kind of profits you’ve made, what your expenses are, and how much tax you need to pay. Plus, if you fail to pay your tax on time, you may be subject to a costly penalty. Fortunately, you don’t need to let record keeping and taxation be a burden if you hire professional small business accountants in Fortitude Valley. Accountants don’t only make your life much simpler; they can also help you save money.

At Lee and Associates Accountants, our professionals have worked for years with a range of small companies from a wide variety of industries, and thanks to the fact that we know the ins and outs of the tax system, we could help you save a vast amount of money in a relatively short space of time. We’re a small firm that offers competitive prices, but our founders have big firm experience and make your success their priority. Below, we’ll look at just some of the ways in which a small business accountant in Fortitude Valley can help you save money.

The Monetary Benefits of Fortitude Valley Small Business Accountants

As a new business owner, you might think you can save cash by taking care of your own accounts, but you might not have the experience to do your taxes properly to make a saving. Here’s how professional accountants can help:

  • Obtain tax cuts on your expenses – Every business needs to spend money to operate, and you can deduct some of those expenses from your tax bill. From staff training courses to office equipment, many costs can result in tax reductions, and accountants know exactly which expenses are deductible.
  • Pay yourself through dividends – You can reduce your tax bill by paying yourself a rather modest taxable salary and obtaining extra cash by granting yourself dividends as a shareholder. Make sure you talk to the professionals for advice to keep everything above board.
  • Pay your taxes on time – When you’re responsible for your own bookkeeping, it’s easy to forget to pay your taxes on time, but that can result in costly penalties. Accountants will ensure your bills are paid as and when required.

Contact Accountants You Can Trust

It takes a highly-experienced accountant to manage your books and taxes as efficiently as possible, which is why so many people like to talk to one of our professionals at Lee and Associates Accountants. If you want to take the first step towards securing your company’s future, contact us today to find out how we can help.