If you are buying an investment property, you need to make sure you have an accountant who will provide you with the right advice. Here are 17 questions you can ask when looking for a new accountant.
- What is your experience with entity structures and setups
- What is your net worth
- Example of tax strategies (aggressive)
- Have you defended an audit
- Fee structure
- Aggressive / Non Aggressive / Developments
- How many of your clients invest in Real Estate
- Do you invest / How much / Strategy
- How much experience in Real Estate do you have
- What other jobs, businesses have you had or have now?
- Would you meet with my wealth team
- Tax planning – when do you think is the best time for it?
- What is your strength
- Do you work with QuickBooks / MYOB / Xero
- Are we working with you or your staff
- Are you familiar with tax laws, GST, Capital Gains, Margin Scheme
- How do you maximise tax deductions
It’s worth while talking to other professionals, colleagues and friends for recommendations before making a commitment.