Questions to Ask an Accountant

Questions to Ask an Accountant

According to the world business magazine, there are one of the best accounting firms in Dubai. This is because there are businesses in Dubai from around the world and they are very successful. And a successful business means that they have to hire one of the best accountants in the world. You will be surprised to know that if a company knows that they have an accountant who is doing a good job in the competitor’s company, the company is willing to pay thrice the salary that they are earning there.

This is because there are a lot of benefits of hiring the best accountant. It is said that if you get a good accountant, consider yourself lucky. They also know the work of the best tax consultant in Dubai as well. If you want to hire an accountant or hire an accounting company for different accountancy services then we suggest that you keep reading to know the questions that you need to ask from an accountant.

Q: you should ask that what type of business expenses can I conduct?

Ans: a good accountant should be able to tell the following expenses that you can conduct:

  • Home offices
  • Business use of car
  • Business travel
  • Employee expense
  • Chartable expense

Q: what are the kinds of records (paperwork) that I should keep?

Ans: you should and must keep the copies of the following paperwork / record:

  • Income statements
  • Balance sheets
  • Cash flow statements
  • Statement of retained earnings
  • Bank statement
  • Credit card statement
  • Check registers
  • Receipts
  • Contracts
  • Business agreements
  • Business licenses and permits
  • Insurance documents
  • Payroll records
  • Payroll tax forms
  • Pay stubs

Q: what should I prepare for the tax season?

Ans: you should be able to prep a file that should say all about your business. You should prep the above paperwork mentioned. Ask your accountant to give you heads up at least a month before the tax season. Use an accounting software will help you keep important documents and paperwork of the tax for evidence. Make sure that paperwork is organized so that you give a good impression.

Q: when should I pay the estimate taxes?

Ans: dividends, gains from sales of stock, self-employment income and interest income.