5 Questions You Should Be Able to Ask Your Accountant Without Worrying About Cost
Reading time: 6 minutes | Topic: Business Advisory
Many Australians hesitate before contacting their accountant for one simple reason:
"How much is this going to cost?"
It's a common concern. Whether you're an individual lodging your tax return or a small business owner managing day-to-day finances, nobody likes receiving an unexpected invoice for asking a simple question.
Unfortunately, that hesitation often leads people to delay getting advice until tax time, or worse, not ask at all.
At Margins Accounting, we believe getting professional advice shouldn't feel like taking a financial risk.
That's why we offer upfront pricing. Before you commit to anything, you'll know exactly what the cost is. No surprise invoices. No uncertainty. Just clear pricing so you can make informed decisions with confidence.
Here are five questions you should always feel comfortable asking your accountant.
1. What's the Difference Between a Tax Deduction and a Tax Offset?
These two terms are often confused, but they affect your tax differently.
A tax deduction reduces your taxable income, while a tax offset directly reduces the amount of tax you pay.
Understanding which applies to your circumstances can make a real difference to your tax outcome. Many people miss legitimate opportunities simply because they never asked the question.
A short conversation today could continue saving you money for years to come.
2. Am I Still Using the Right Business Structure?
Your business may have changed significantly since you first started.
The sole trader structure that suited you in the beginning may no longer be the most tax-effective or practical option as your income grows or your business becomes more complex.
Reviewing your structure regularly can help you:
Reduce unnecessary tax
Improve asset protection
Better prepare for future growth
Ensure your business continues to meet your goals
It's much easier to review your structure before it becomes a costly problem.
3. What Records Do I Actually Need to Keep?
Good record keeping isn't just about staying organised.
It's about making sure you can support your deductions, remain compliant with ATO requirements, and avoid unnecessary stress if you're ever asked to provide evidence.
Many people aren't sure:
Which expenses need receipts
How long records should be kept
Whether digital copies are acceptable
Which software makes bookkeeping easier
Getting clarity now can save significant time and money later.
4. Am I Paying Myself the Right Way?
If you're a business owner, the way you pay yourself matters.
Depending on your business structure, you may be better off using salary, wages, drawings, director's fees, or dividends.
The right approach can affect:
Personal tax
Business tax
Superannuation
Cash flow
Long-term financial planning
It's a simple question that can have a significant financial impact.
5. Is There Anything About My Current Setup That's Quietly Costing Me Money?
This is one of the most valuable questions you can ask.
Sometimes it's not the obvious issues that cost the most. Small inefficiencies, missed deductions, outdated processes, or overlooked opportunities can quietly add up over time.
A quick review can identify areas where your finances could work harder for you and where simple improvements may lead to better outcomes.
Sometimes the biggest savings come from asking one simple question.
Why Asking Questions Early Can Save You Money
Many financial mistakes don't happen because people make poor decisions.
They happen because people delay asking for advice.
By the time an issue appears, whether it's missing deductions, poor record keeping, or an unsuitable business structure, it often takes far more time and money to fix than it would have taken to prevent.
Professional advice is most valuable before problems become expensive.
Why Upfront Pricing Matters
No one likes uncertainty when it comes to professional fees.
Knowing the price before you commit gives you the confidence to ask questions when they arise, rather than waiting until they're much harder to solve.
At Margins Accounting, we believe transparency builds better relationships and better financial decisions.
When you know what advice will cost, you can focus on what's really important: getting the right answer.
The Bottom Line
The cost of asking a question is usually far less than the cost of not asking it.
Whether you're unsure about deductions, your business structure, record keeping, or your overall financial position, getting advice early can help you avoid expensive mistakes later.
If one of these questions has been sitting in the back of your mind, now is the perfect time to ask.
Ready to Ask Your Accountant?
At Margins Accounting, you'll know the cost before you commit, so you can seek advice with confidence and without worrying about surprise invoices.
Whether you have one question or need ongoing support, we're here to help you make informed financial decisions all year round.
Get an upfront quote today or book a no-obligation consultation with our team.
📞 Book a consultation | 📧 Get in touch
This article is intended as general information only and does not constitute tax advice. Tax laws change regularly, so always seek advice from a registered tax agent or qualified professional based on your individual circumstances.
