27-10-2005, 04:41 PM
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#1 (permalink) |
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Business Guru
Join Date: Dec 2003
Location: Near Inverness, Highlands, Scotland
Posts: 7,892
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How do you feel about your accountant?
So I spoke to a new accountant today - who left me feeling ripped off by my current one, but also seemed to cross some interesting boundaries so far as "creativity" seems to go with accounts.
Seems I end up speaking to accountants of extremes...
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27-10-2005, 05:51 PM
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#3 (permalink) |
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Senior Member
Join Date: Oct 2005
Location: Malaysia
Posts: 147
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Re: How do you feel about your accountant?
Creative ideas on how to "minimise tax"???
Met several of those so called creative accountants, most of their ideas does not work! The Revenue guys are too smart to leave large loopholes around. If one is found, they will cover them very very darn quickly! Could share details actually, but then again, Malaysian tax laws are different... In any case, talk is always cheap. And the taxpayer is the one responsible, so guess who will be caught if the Revenue guys wants to take action? |
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27-10-2005, 06:29 PM
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#4 (permalink) |
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Senior Member
Join Date: Oct 2004
Location: Bel Air, Maryland
Posts: 414
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Re: How do you feel about your accountant?
"Creative Accounting???"
Here is the US, that sends chills up everyone's spines. Crooked corporations like Enron and WorldCom bilked their employees collectively out of billions of dollars by "cooking the books";i.e., they posted false profits, the CEOs didn't pay taxes, etc.. On a personal level, I would say do as much of your taxes by yourself as you can. Then, take your results to a qualified tax accountant and get his opinion. If he is a phoney, you will be able to recognize it immediately, because you will have become familiar with the details of your taxes. I think people get into trouble when they simply hand over all their paperwork at the end of the year to some accountant they scarcely know. |
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28-10-2005, 02:04 PM
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#5 (permalink) |
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Senior Member
Join Date: Oct 2005
Location: Malaysia
Posts: 147
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Re: How do you feel about your accountant?
Yeap, agreed, yes, you are absolutely right!!!
Enron and Worldcom is a worldwide scandal due to the magnitude of the "creative accounting" involved. It just proves that if a large company could have this problem, there are many others which are still uncovered with the same problem. |
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14-01-2009, 01:01 AM
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#6 (permalink) |
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Business Forums
Join Date: Jan 2009
Posts: 5
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Re: How do you feel about your accountant?
If I was anyone looking to reduce the tax burden, I would strongly advise looking into incorporating as a non-profit. My company does this for clients, and you would not believe what you can do with a 501c3 status.
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10-02-2009, 10:58 PM
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#8 (permalink) | |
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Junior Member
Join Date: Aug 2008
Location: France
Posts: 2
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Re: How do you feel about your accountant?
Quote:
 if you want to find out more then contact me. All legal - just let me explain..... and nothing to do with offshores or umbrellas! 
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