How A Property Tax Accountant Can Benefit You
Are you one of those people who live just to work and pay bills? Can you build other sources of income and lessen your expenses so you can spend less time actively earning?The answer is yes. Once you have built your wealth and investments, you can start looking for better ways on how to utilize your money.One of the many ways of doing this is investing in property. Since you start earning more, you can now add more to your family budget and achieve financial independence sooner.Renting it out is the smartest way to earn money.Owning and managing one is just like any other business. Your goal should be to minimize your tax burden to maximize your profit margins.However, first-time property investors are still not sure how to make things work. They may not be familiar with any (or all) of the strategies of the property investment game and may have a hard time finding properties suitable for their finances.
If you are looking for a property tax accountant Brisbane, we are here to help. STP Nundah is a Brisbane-based accounting firm that gives a wide range of services under several categories.
We also pride ourselves as property tax accountants. We will be glad to give our expert advice on how to minimize the taxes of your rental properties.Our team of property tax accountant Brisbane specializes in property and is well-experienced in dealing with property investors. Aside from minimizing your taxes and maximizing your asset protection, we make sure that you, our clients, know the basic cash flow requirements.For example, do you need to have a big portfolio to get this certain amount of cash flow? Is your plan still realistic or do you need to sell and use the net proceeds in a different way?What we are saying is a good property tax accountant Brisbane should be flexible and have a holistic approach. He or she should be able to see the bigger picture and know what works best for the client.
Additionally, we help clients understand the concepts of affordability and serviceability. We will teach you how these affect your wealth, income, and ROI (return on investment.)Another example is the difference between a negative-geared property and positive-geared properties.
If a client is a high-income earner, a good property tax accountant should advice purchasing a negative-geared property with good profit potential. There are two reasons for this:
- The client can get a tax refund to help lessen the holding costs, and
- When selling, the client can pay tax on profit at a much later date.
These are compared to buying a positive-geared property with minimum growth potential. On top of that, the client may even pay tax on the positive income at a much higher rate.
Most of all, we will help you understand how to use a property to achieve your objectives. We believe that by doing this, we are helping you become a successful investor in a short amount of time.
When buying a property, a property tax accountant can analyze certain factors like the structure, its level of leverage, etc. These factors can make a huge tax difference both on the operating and selling aspects of a property. The ideal property tax accountant should be able to recommend strategies on how to grow your property while protecting your wealth. He or she should also know how to grow your wealth using your property—from purchasing to owning to the eventual selling or transferring of the property to another individual.
All in all, property tax accountants know how to lessen your tax legally, provide asset protection, and give the right advice on how to better achieve your goals.In short, we give you the information you need for success.Are you planning to buy a property for investment purposes? Or, perhaps you already have one (or more) and want to make it more profitable?
Whatever it is, talking with a knowledgeable and experienced property tax accountant Brisbane is always a good idea. Let STP Nundah serve and help you solve all your property tax problems by giving us a call today.