Sandeep Singh and Matt Connor of AstuteMed (AM) sat down with Ben at FirmChecker (FC) to discuss what makes the practice different, and how it helps medical professionals achieve great tax outcomes.
What makes AstuteMed different
FC: What are your main areas of expertise?
AM: AstuteMed provides expert taxation and business advice tailored to the unique needs of Queensland’s medical professionals and High Net Worth Individuals in professional services.
Our business advice encompasses setting up a new medical or dental practice, buying into an existing practice, or exiting a practice. We can also help value a business, develop a plan, and liaise with everyone involved to achieve your goals. We also advise clients to operate their medical business more efficiently and profitably and minimise personal and industry exposure to risk and liabilities.
In conjunction with our sister firm Medical Financial, we provide holistic services in accounting and financial services.
FC: What is your key point of difference in approaching client service?
AM: Our philosophy is to keep our clients’ tax administration matters simple, using automation. We invest a significant amount of time identifying and researching new technology applications, such as financial management apps and software. Our recommended solutions save our clients time and simplify their lives.
Our service includes customised tax-planning projections (monthly or quarterly), unique to an individual’s situation, so they can be confident about how much tax they will have to pay and when.
In addition, we take a proactive approach to our client’s tax and accounting needs and offer timely and thorough responses to any questions they may have.
FC: What’s the most common question you get from clients, and what advice would you give to them in tackling this problem?
AM: Most common questions relate to the most appropriate business structures and Professional Services Income (PSI) for medical professionals.
PSI is a complex area of tax law where our advice varies depending on their professional arrangements.
However, our recommendations are simple, and we do not recommend risky or extreme tax strategies. Our tailored approach is unique to their situation and is compliant with ATO guidelines.
FC: Why did you decide to join FirmChecker?
AM: The reason for joining FirmChecker was to allow our business to showcase our expertise on a verified and independent review site. Strategically, FirmChecker provides our business with brand awareness and growth opportunities within the niche of Medical Accounting and Advisory Services.
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