Wednesday 15 June 2011

Kenyan Taxation Problems-Talking to an accountant

Tax is a big headache to many people and you may be in deep problems with your taxman before you know that you are. Tax issues are normally ignored by many business persons and individuals. Few people invest in tax couching and evaluations and this can be very dangerous in most cases.

How do you approach tax evaluation?

If you don’t have an accountant then be careful who you approach to help you with your
tax problem. Few accountants are also tax experts – although they are typically great at
resolving day to day tax matters for their clients.

If you do have an accountant, they should normally be your first port of call. Remember
though that accountants are much like GPs (General Practitioners). When patients have unusual medical issues the GP will involve a specialist consultant. Accountants are the same.
Very few of them are able to resolve all tax problems, but they will often know who to ask and be able to refer their clients’ unusual tax issues to tax specialists.

The best accountants know what they don’t know and will not pretend to the contrary.
Some unqualified accountants (of which there are many) are less ethical and will try to kid
you that they can resolve all and any tax problems themselves even if their knowledge
and experience is out of date. To be fair, some qualified accountants are just that bad.

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