Difference between an Attorney and an Accountant


An accountant is a person you hire when you don't want to deal with your taxes or tax planning or for that matter even business tax planning. Accountants manage your tax in such a manner that you end up paying minimal tax as possible and still manage to be in the good books of the tax department. Not only this, but you can also depend on them to take financial actions for you, help in increasing your assets and show you how and where to reduce and cut down on liabilities and also keep all of your financial information confidential. 

Whereas, on the other hand, a tax attorney, is a lawyer who has specialised in the field of tax law. Tax attorneys are professionals who have completed their law degree in taxation and accounting. Attorneys usually help you anticipate taxable estates for till the time of your death. That is if your estate exceeds a particular amount your heir will have to pay large tax of the value of the estate. The attorney helps plan a tactic to encounter this problem and stay below the taxable threshold. 

Also, in case your business is under audit, you want someone to defend you in the court of law before you end up losing everything you have. These situations usually occur when you've committed tax fraud. 

It's necessary to know whom you need to hire in times of such situations. And you'd want to hire someone reliable and experienced from the best accountants in Surfers Paradise. Along with surfers, this place also has good accountants.

Tips on Reducing Taxable Income


In order to save a fortune from paying additional tax, there are ways. If you haven’t got a clue, then follow these helpful tips that are going to benefit you.

  1. Make a Pension Account – Try contributing some cash in your pension account on a monthly basis. The amount that you contribute is going to be tax-deductible then ensure you are doing this.
  2. Open a Private Health Insurance – Before investing in a health insurance, make sure it is a good one and also better than the government insurance plan. By doing this, you will be saving on insurance coverage along with tax deductions.
  3. In Education – If you’re working and need an education certificate at the same time, then the fees you are paying can later be deducted as part of your taxes. It’s a great way to get some reduction from the taxable income you’re paying.
  4. Business Deductibles – If you own a business, then you are liable for reducing the taxable income. For instance; if you’re spending on expanding your business, then you are liable for tax-deductibles. This way you get benefits.
  5. Build Deductible Together – For this you are required to have a large amount in order to save from paying a fortune of tax. Before filing for taxes, make sure you’re contributing large amount to get deductibles.

With these tips you can save a fortune from paying extra taxes. Moreover, you can also save a lot if you can get hold of a professional best accountant in gold coast area.