Most of the companies in Japan have an advisory agreement with a tax accountant.
What are its merits to enter into an advisory agreement with a tax accountant?
Let me explain the 5 merits you can enjoy with them.
You can focus on your business
The more business you expand, the more taxes and accounting you need to do and make decisions about.
Even if the amount of work in the main business increases, in addition, the work which is not directly related to your main business increases, too.
In addition, your own tax calculation is not checked by someone with expertise, so it tends to be doubtful whether the processing is performed correctly.
If you have an advisory tax accountant, you can immediately inquire about and solve any questions you have, and you can also have an accountant enter accounting software and create and submit tax returns on your behalf.
You can also analyze performance and funding from accounting software data and ask their opinions as experts whether management is going well.
Enhance the credibility of your financial statements & tax return
There are rules on how to prepare financial statements and declarations, and if you do not create according to those rules, you will not grasp the correct performance.
However, the rules are complex and require considerable effort to make accurate financial statements and declarations on your own.
Financial statements and declarations made by non-experts are incomplete to some extent.
Tax offices and bankers who are used to seeing financial statements and tax returns also quickly notice whether they have been made by non-experts.
Financial statements and returns that are suspicious of accounting and tax treatment may induce tax investigations or have a negative impact on the examination of loans.
When a tax accountant creates financial statements and declarations, the name of the tax accountant is listed.
Also, from the standpoint of an agent, it is also possible to ask an accountant to answer questions by tax offices and financial institutions and to exchange materials with them.
Tax-saving measures can be implemented
There are many special incentives for taxes that are only allowed when the conditions are applied or when certain procedures are taken.
Those who know the preferential treatment system use it well and legally keep taxes low.
On the other hand, the preferential treatment system is not something that someone kindly teaches, so there are many cases where it is passed without knowing.
Tax accountants observe customers on a daily basis, actively propose tax-saving measures that can be used, and help with the procedures necessary for execution.
Well-prepared for the Tax Audit
A tax audit is a tax office inspector checking your tax calculations to detect errors.
Investigators will come to your office, shop, home, etc., to check the materials and ask questions.
Basically, tax auditors are eager to detect errors and make you pay more taxes.
Many people are thrilled that they will be taxed additionally.
One of the jobs of a tax accountant is to be in charge of an audit on behalf of customers.
Advisor tax accountants are always observing your business and the flow of money, so you can respond appropriately to an audit.
You can leave the place with peace of mind.
Consultation on a variety of topics
You might have something you can’t discuss with your employees.
Advisor tax accountants are always in touch with your management secrets and personal information.
Tax accountants have a suitable background for you to discuss top-secret topics.
Don’t worry, since tax accountants are required to keep confidentiality by law, they will not reveal the topic to others.
Having any concerns like these with your accountant?
Your tax accountant…
- changes every year
- suggests no tax-saving measures
- doesn’t give you financial statements in a timely manner
- doesn’t explain the contents of the statements
- is reluctant to use the cloud software
- rarely shows up to your office
- is always late to answer your questions
- is elderly and you’re worried about the near future
Lack of communication with tax accountants can cause incorrect accounting processing due to the mess of the contents of the bookkeeping.
As a result, it increases the risk of additional taxation of up to 40% through a tax audit which is conducted once every 3 to 5 years.
To prevent from paying additional taxes, it is important to share accounting processing and the business environment with tax accountants on a daily basis and to take measures to address additional taxation risks at an early stage.
We, Masa Tax Consulting, not only consult on accounting contents but also provide tax audit preparing measures and proposals for tax-saving measures that are optimal for customers as the most casual/friendly tax accountant in Japan.
We now offer a free initial consultation and a first-month-free policy.
We do not force you to make any contract, so please feel free to contact us.
～The representative tax accountant will always respond responsibly.～