Whether a Financial Planner is Advantageous for an Organization or Not?

The financial philosophy has endured major changes over the years. This has led to a major shift in the behavior of the organizations as well as business houses to integrate dedicated financial planner. Hiring only an accountant is not justifiable for better financial outlook of an organization – there are financial planners for this.

What is the Need for financial planners?

To avoid the risk of bankruptcy, your money has to breed and multiply on its own. Many of us don’t know the intricacies or even the basics of saving or investing. This is why financial planner becomes essential, who would help you in creating and increasing your wealth.

A smart and careful planning is a key to the organizational success. A good Financial Planner in Melbourne could help you to realize your short-term and long-term goals, and also could help you in building a balanced plan in meeting both of them.

A good financial planner will:

• Elucidate the type of services they offer
• Plan a meeting to analyze financial goals
• Carefully examine your assets, liabilities, taxes, incomes, investments and insurance
• Help in saving your money for uncertain circumstances
• Plan your retirement and future savings
• Put your plan into action and monitor the progress

Qualities a Financial Planner Ought to Have

Following are the qualities that a financial planner must possess:

1. Experience

According to the knowledge possessed by a reliable financial planner, he/she could successfully advice other clients with similar needs in order to provide additional assurance.

2. Knowledge

A potential financial planner should possess adequate knowledge about the financial areas you need to manage. He/she should be able to explain the topics in an intelligible way. A financial planner should also have abundant knowledge of the ins and outs of the trade, and should be able to articulate these insights in a clear and logical way.

3. Honest

When it comes to choosing someone to handle your finances, a financial planner should be trustworthy and honest enough to provide insights to your funds, investment and needs.

Therefore, a financial planner is considered trustworthy, when he/she provides guarantees returns.

4. Deep understanding

Deep understanding comes from careful listening and asking problems. Having a genuine concern for the client’s well-being establishes a deep sense of belonging and acceptance. For most financial planners, the capacity and skills to understand someone deeply are not instinctive. So make sure that you choose the best one.

The Verdict

Each individual is different and each financial planner has different strengths. A financial planner will help you to achieve your personal as well as organizational goals. They always stay focused and guide their customers from time to time in achieving what you have planned. They do not only plan and design a path of financial freedom, but also helps in implementing it.

Are you looking for Financial Planners in Melbourne? Medvisor Consultants has a team of qualified financial planners, who can discuss your financial options with you and provide services, such as, initial financial advice, implementation of a financial plan, and ongoing investment portfolio management. Visit the website for more insights!

What Does a Tax Accountant Really Do and Why Do You Need One?

When it comes time to compiling your tax returns, you may find yourself in cold sweat, clueless about what to do. You probably would have heard of tax accountants, but might not be sure about what they do or how they can actually benefit you with their services to help you and your company manage taxes year after year.

Most tax accountants work with private individuals, and with companies of all sizes. While the result remains the same, the way they handle the two clients is entirely different and entails different solutions to ensure that they meet the deadlines with accurate returns that the client can count on.

Most of the tax accountants are independent contractors, and don’t work for an organization or for yourself personally, but you can call them when needed.

The advantage to this is that you pay for the service only when you need it. In most cases, the accountant will charge you an hourly rate, so having your paperwork in order and providing the tax accountant with everything they need, can reduce the time they need to spend on your tax job, which can help reducing your costs in future.

One of the best things a tax accountant can do for you is managing your tax preparations. By collecting and evaluating all the relevant information from the bank statements to the income and the expenditure reports, the tax accountant can compute the best taxation amount for you. In short, he works for you so that you pay just the amount you are obliged to.

He will focus on lowering your tax obligations by looking for information and data that can reduce the amount of tax you pay. Make sure that you keep every receipt; this will help in proving your income and expenditure and work on ways to reduce your onuses now and in the future.

Tax accountants also fill in the tax returns for you. While you may think that your tax return is not complicated, you want definitely want to ensure that it is filled accurately without any errors. These forms are really tricky, and no matter how many times you have filed them, they will always have some issue. A tax accountant on the other hand has completed hundreds and thousands of tax returns. Hence they know the best way to fill them in, which reduces the risk of paying more.

Tax accountants in Melbourne also make sure that your tax returns are submitted on time, without any delay. This reduces the risk of any fines and penalties. And obviously, the peace of mind, the relaxation you get is so worth it. Not having to diarize the dreaded tax return submission date apparently allows you to concentrate on other elements of your life or business.

For established organizations, the tax accountants are also responsible for preparing and updating the ledgers accurately. By having in-house accounting employees, it is easy for the errors to occur; after all we are all humans. The accountant will run through the ledger, look for mistakes and safeguard that they are perfectly completed to make your tax return an easy and quick process.

At Medvisor Consultants we offer a full range of taxation services. Our taxation consulting division is nationally recognized and we offer advice based on proven knowledge and experience. Our team of professionals, proactive approach ensures we deliver consistent and efficient service on timely basis.