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Paying an Accountant to do Your Tax Saves You in the Long Run
One of the best "spend money to save money" initiatives I've ever had was to get myself an accountant to do my tax. When I first entered the workforce, I did my own tax (free) for two years, and both times owed a very large amount of money.
The third year I found myself an accountant and it was the best $130 I've ever spent. The accountant obviously knew so much more about the system than I did and knew so many tax deductions that I had never claimed. He was also able to recognise I was not having enough tax taken out by my second job - which was what caused me to owe extremely large amounts of tax previously. I now get a decent return every year on tax.
This year I introduced my boyfriend to my accountant and he got twice as much back this year as last year! $130 for an extra $1,000 in his pocket - and the $130 he spent is claimable on next year's return anyway!
Contributed by Kate Bradshaw
The third year I found myself an accountant and it was the best $130 I've ever spent. The accountant obviously knew so much more about the system than I did and knew so many tax deductions that I had never claimed. He was also able to recognise I was not having enough tax taken out by my second job - which was what caused me to owe extremely large amounts of tax previously. I now get a decent return every year on tax.
This year I introduced my boyfriend to my accountant and he got twice as much back this year as last year! $130 for an extra $1,000 in his pocket - and the $130 he spent is claimable on next year's return anyway!
Contributed by Kate Bradshaw