Year-end Financials and Tax Returns
Providing high-quality year-end financials and tax returns can be challenging for small and medium-sized accountants. This requires experienced staff who understand the client's business, have accounting expertise, and stay updated on tax and other legislation.
At VLP, we have set a standard process for training the staff on year-end financials. We have built a team with 5+ years of experienced managers to review the work done by the staff and train the staff to maintain the highest standards of quality at all times. Bi-monthly training focuses on various tax concepts and recent changes. Our financial staff is vigilant, able to spot bookkeeping errors, do the year-end adjusting entries, and make sure the financials are completed in compliance with the applicable accounting standards and tax laws.
We are tailor-made for your practice. Meaning we follow your practice. We understand that different accountants' practices will have different approaches and processes. When we give dedicated staff, the staff will work closely with your team and understand your practice and processes, and they will update the practice notes and follow them in the future. We have developed various working paper templates such as GST Reconciliation, FBT Calculation, etc. We are also happy to follow your templates if that will help you.
We excel in tax concepts and provide strong support to our tax agent clients in completing tax work. We handle complex issues, conduct research, determine the appropriate tax treatment, and inform you of our approach. This saves you significant time, allowing you to focus on growing your business. Additionally, we assist tax agents with tax planning for the upcoming year.
Our services include:
- Preparation of Financials
- Review of books of accounts
- GST/PAYG Reconciliations
- Division 7A compliance
- FBT / FB Reimbursements
- Preparation of year-end financials
- Dividends/Franking accounts
- Profit distribution
- Standard work papers for your quick review
- Preparation of Tax Return
- Individual Tax Return
- Trust Tax Return
- Partnership Tax Return
- Company Tax Return
- Deceased Estate Tax Return
- Private Ruling
- Group entities and Tax planning
- Supporting the tax agents in attending GST/Income Tax Audit from ATO
