Getting Financial, Tax & Legal Advice
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What are the different types of financial professionals to consult?
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Welcome to the Australian Finance Podcast, a podcast for people who want to learn more about their personal finances and get the most from their money. This series is hosted by Kate Campbell from HowToMoney and Owen Raskovich from Rask Finance.
The Australian Finance Podcast is provided for educational purposes only. The information is general in nature and does not take into account your needs, goals or objectives. What that means is the information does not apply to you specifically. So consider getting the advice of a licensed and trusted professional before acting on the information. Kate, episode 11, welcome.
Hi, Owen. Good to be back.
This one kind of rounds out the first lot of episodes, right?
Yeah. Yeah, it's been a wild ride.
It's been a journey. It's been a journey.
It's been a journey, yes.
So this one is kind of like we're going to tell you where to get the right resources, like to find the right resources and answers to questions, right?
Yeah. So in a lot of circumstances, you may need to talk to an expert to help you with whatever it is when it comes to your finances. Right. And there's a lot of people out there in the industry that do all sorts of different things. So we're going to go through different sort of circumstances and talk about who you might like to speak to for each one. Yeah, cool. Okay, let's just get cracking.
So why would someone go see an accountant?
Well, accountants are good for tax time. That's probably the most contact everyday people are probably having with an accountant. They can do your tax return. Certainly that's something you can do yourself, but once you start making a situation a bit more complicated, sometimes a tax accountant is really helpful with finding the best nooks and crannies and different things. Also accountants, if you're starting a business like you've done, Owen,
Really good to do before you start your business. Yep. Just to speak to an accountant to discuss your options.
Yeah, and different business structures and all sorts of things. Also, if you're even buying an investment property, it could be good to speak to an accountant as well.
Investment property is a really good one. So having a good accountant is like worth their weight in gold. Bad ones are like a lump of coal and you don't want to be in it. Whenever it comes to these professionals, just make sure you understand what you're doing. Don't just take their word for it. Actually understand and get them to explain it. Because for me, even me, someone who's financially illiterate, I was oversold on things when I went and saw a solicitor, which we'll get to in a minute. But, you know, just when it comes to your accountant, just make sure you understand what they're saying and why they're saying it.
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