Keeping accurate and organised financial records throughout the year, such as income and expenses, makes it easier to prepare tax returns and avoid errors. This can include using software for bookkeeping and financial reporting.

Familiarising yourself with tax laws and regulations can help ensure compliance and take advantage of deductions and credits. This can be done by reading government publications and seeking advice from Griffin Hancock & Moffitt.

By using Griffin Hancock & Moffitt as your tax agent we can provide the expertise and ensure accurate and timely tax return lodgement. We can also provide tax planning strategies to minimise taxation liabilities.

Taking advantage of tax deductions and credits, such as deductions for business expenses and credits for research and development, can reduce tax liability and improve cash flow.

Our team provides tax planning opportunities for all clients in order to plan ahead for estimated tax payments.  This planning helps avoid underpayment penalties and ensures timely payments.

Considering tax implications when making business decisions, such as expanding operations or purchasing equipment, can help minimise tax liability and maximise financial benefits.

Keeping receipts and documentation for all expenses, such as business travel and supplies, supports deductions, and reduces the risk of audit.

Staying up to date on tax law changes, such as changes to tax rates or deductions, helps ensure compliance and minimise liability.