Wonder what you need to do to lower your taxes? Are you finding it difficult to understand new tax regulations in Singapore? You’re not alone. Most businesses get panicky once the tax deadline approaches. The fear of penalties and the fear of paying more than what is required can give sleepless nights to many. One way to avoid this situation is by hiring a reliable tax accountant. This will help you focus on your business operations, leaving the big job to the experts. But finding the right tax accountant you’re comfortable to work with is important. Take a look at a few tips on finding the right one for your company.
Credentials and experience matter
The tax preparer you hire will be handling your company’s crucial financial information. You must verify their credentials to ensure they’re a trustworthy company. There are websites available where you can check the status of their license. Even if they are certified professionals, you would want someone on board who knows how things work, what the latest tax regulations are, and how they will be helping your company. Choose someone who has the expertise and experience in tackling tax problems. Enquire what type of tax issues they specialize in. Make sure you choose a company that hasn’t been involved in any fraudulent activities. Most importantly, ask them how they determine their fees. If they’re promising big refunds, avoid them.
Referrals and recommendations
If you know someone who is in the same tax situation as you are in, ask them for referrals. Also check with your family, friends, business circle or someone from your community if they’re aware of a qualified accountant you could hire.
Browse the web
If you’ve just started your business and are looking for tax accountants in a location you’re not familiar with, you can get all the information you want on the web. For instance, if you’re based in South East Asia, you could consider reputable companies such as Sandhurst Consultancy. Visiting e-sandhurst.com will give you an idea what types of services they provide, and how they can help.
Understand how their security policies work
With the increase in cyber-attacks on accountants’ software programs, it is crucial to analyze security policies. Check with them how they will be encrypting your data, and how will it be protected against network breaches.
Change your accountant if required
Does your accountant lack technical expertise? Are you able to understand the tax jargon they use? If you’ve hired somebody you’re not happy with, you should consider changing your accountant, as there is a lot of money and risk involved. When you terminate their services, ensure all your data is transferred securely.