Can a bookkeeper build a tax practice?

The real question here is why shouldn’t they build a tax practice?

There are a number of reasons bookkeepers should build a tax practice:

• Increased revenue base;

• Securing your existing client base by offering the full range of services (which both makes it harder for them to leave and prevents other service providers,eg tax agents, from stealing you clients);

• The value of a tax practice in the market place is a very real asset; and,

• The hourly rate for preparing tax returns is far higher than doing the bookkeeping.

You can add to that the fact that you would be doing the tax agent service industry a real favour by joining their ranks.

Experienced bookkeepers make great tax agents. They know how to drive, reconcile and fully vouch a ledger – something that some tax agents can’t do. Frankly if you can’t get the ledger right then you can’t get the tax return right.

There may be specific academic subjects that you need to do or refresh (maybe) but it’s worth the time.

At the same time obtaining the relevant experience to qualify to become a tax agent is what we do, we can get you the hours you need to obtain your relevant experience by supervising you as you prepare the tax and BAS returns for your clients.

Contact us today to learn more!