Incompetent Accountants mean you are paying too much tax
Joe was puzzled about why his tax bill kept going up and his accountant was coming up with nothing in the way of an explanation. Regardless, he thought he was up to date until the ATO started calling.
By the time Joe called us he was in a panic. The ATO was chasing him for $45,000, refusing to make payment arrangements and demanding payment within 4 days to avoid a Directors Penalty Notice which would transfer the company debt to personal debt. On top of this, his wife knew nothing of it.
We got hold of the accounting software, logged into the ATO portal and quickly figured out where the tax debt was coming from. His accounts were wrong. We were able to revise the figures and after a call to the ATO, we made arrangements to pay what was just $10,000 owing.
Of course Joe was relieved and happy. He immediately transferred all his bookkeeping, accounting and tax management to us to ensure things like that never happened again.
* This is a real case study, we’ve just changed the client name to protect their privacy.