Three Reasons People Pay Too Much Tax.

Are You One Of Them?

Spend Less Time On Your Tax Returns And Stop Paying Excess Tax

Taxes are everywhere – you cannot escape them.  But you can reduce the amount of tax you have to pay by using lawful means.  Tax avoidance is legal. Tax evasion is not.  We are here to help you take advantage of those legal tax avoidance methods.

However, we continually find new clients who are paying more tax than they should. This applies to private individuals, property investors and small businesses alike. Even employees on PAYE often have the wrong tax code as so end up paying more tax than necessary. But often it is relatively simple to correct.

Three steps to reduce your taxes

Taxation is getting more complex as each year goes by so it is not surprising that people do not understand the different tax claims, expenses and many other issues they can legally use for their financial benefit.

There are three clear steps your tax specialist can take to lower your tax payments.

• Set up the best tax planning strategies for your circumstances.
• Make sure your tax preparation is correctly and efficiently completed.
• File your tax returns on time and with the correct data.

Tax planning

Tax planning is not just for the wealthy.  Almost anyone can plan their finances to pay less tax.  This is especially the case for small business owners.  How you own your company, the income you are paid and how the profits are allocated can all be made tax efficient with proper tax planning.

And for individuals who have invested in rental property, there is a variety of tax planning tactics you can use.

Unfortunately many people do not seek our advice and end up with bigger tax bills than necessary.
Talk to us so we can advise how you can be more tax efficient.

Tax preparation services

Tax preparation is the biggest service we provide.  It takes many forms from Company Annual Accounts and Income Tax returns, GST and FBT for small businesses, tax reporting for Family Trusts, to individuals with their income tax returns.  For everyone the annual tax reporting is:

• time consuming
• confusing and
• frustrating.

As a result, people often submit incorrect or incomplete information which could mean over payment of tax or underpayment, and getting penalised.  Either way, it is unnecessary expenditure.

For individuals we have simple checklists to help you easily know what information to gather so we can quickly prepare you income tax return.

For businesses we encourage people to maintain regular contact. Monthly reconciliation of your books with your bank accounts means errors can be quickly spotted and corrected. This makes the end-of-year tax preparation a lot quicker and keeps your accounting fees lower.

If you want to reduce your accounting fees, call us on 444 9004 for advice on tax preparation.

Tax returns on time and with the right data

The third aspect of taxation is the actual filing of tax returns. 

Giving the IRD incorrect information can cost you money either as paying too much tax or being penalised because you have not paid enough. So we make sure your income tax income, GST and FBT returns are accurate so you avoid those tax penalties.

Possibly the most frustrating tax cost is late filing fees because they are unnecessary. Yet every year we see companies who didn't submit their GST forms on time or are late with their Annual Returns.  This is wasted money and you cannot claim these costs as tax deductable expenses.  As your tax agent our job is to make sure you or we file your tax returns by the due date.

No one wants to pay tax.  Do not pay more tax than necessary. To file your taxes returns accurately and promptly call us on 444 9004 or email us at geoff@gtyler.co.nz for an initial free consultation.

 

Back to Services

 

Websites for accountants by Wolters Kluwer    |     Site Map    |    Copyright Tyler & Associates ©