If you are only paying an accountant to make sure your taxes add up and that the numbers coming in are bigger than the numbers going out, you are wasting a valuable, and let's face it expensive, resource. Qualified accountants can do so much more than just the basics, and you might even start to think about them as a positive asset rather than an expense.
Accountants know more than just numbers. By the nature of their work they are exposed to a huge variety of legal information, business information and market information, all of which helps them understand the economy is ways that those who do not spend all day surrounded by it just cannot comprehend. So, before you send off that emailing asking about your next tax return, have a think about these three tasks that your accountant can help you with, and watch your return on investment soar.
It is time to stop thinking about accountants as people who deal with numbers in the past. Get your accountant involved in your financial future instead. Arrange a meeting with them, and talk them through you financial goals, and where you want to be in five, ten, fifteen, or even fifty years. Seek their advice, although you might not like it, about if your current financial attitude is going to get you there in the longer term. They will then be able to set out a plan of action for you to get there, and as they see your financial information they will, most importantly, be able to hold you accountable to it.
Manage your property portfolio
If you are planning on buying a property to rent our, thinking about a second home, or looking for a good deal on your next property move, you are probably more likely to see a real estate agent or banker than an accountant. You could be missing a trick however. An accountant will be able to help you build an overarching strategy for your property portfolio, no matter how small it is, and keep your plans in check so that they don't put your future at risk.
Unfortunately, finances do not always go to plan. This is especially true in cases of divorce or after a relative as died, and sometimes you need to bring in a professional to find out what has happened to the money. Qualified accountants are in the perfect position to do this discretely and effectively, tracing money through accounts and financial instruments to establish where it has gone. They know all the tricks in the book, so be sure to rely on their expertise if you need it.