I hear this a lot: "I don't know what to ask my accountant." Most business owners think the conversation should happen at tax time — get your numbers to them, they sort it out, you get a tax bill, done.
But that's not how it works. The best time to talk to your accountant is in May, before June 30 approaches. That's when there's actually time to do something about it.
Why May is better than July
1 July is too late. That's the date that the financial year ends. If you're sitting down with your accountant on 1 July with questions about how to minimise your tax, you're a month too late.
May is when you should be having the conversation. Why? Because tax planning is about things you still have time to do:
- Timing discretionary expenses before 30 June
- Making super contributions that get a tax deduction
- Structuring your business in a tax-efficient way
- Understanding the difference between tax-deductible and personal expenses
Once you hit 1 July, the financial year is closed. What's done is done. You can't change it anymore.
💡 Action tip: Put "Book accountant meeting" in your calendar for May — not June, not July. May. That gives you a month to implement whatever they suggest before the financial year ends.
Questions your bookkeeper can help you ask
Here's a secret: you don't have to ask your accountant the questions alone. Your bookkeeper often has a better idea of what questions make sense, because they live in your numbers every day.
Before you sit down with your accountant, sit down with your bookkeeper and ask them: "What should I be asking my accountant about?"
Your bookkeeper might say things like:
- "I've noticed we have a lot of home office expenses. Is that a tax deduction and how do we claim it correctly?"
- "We're trending to a profit of about $X. Is there anything we should do before 30 June to minimise the tax impact?"
- "Are we claiming all the deductions we're entitled to on equipment we've bought?"
- "Is there a better business structure for us — sole trader, company, partnership?"
- "We've got a contractor helping us. Is that the right classification, or should they be an employee?"
Your bookkeeper has seen a lot of businesses. They know the patterns. They're not accountants, so they won't give you tax advice. But they'll spot things in your numbers that deserve a conversation with an accountant.
Questions you should definitely ask
Even without a bookkeeper's input, here are some questions worth raising:
About deductions
"What am I not claiming that I could be claiming?"
Most business owners claim the obvious stuff — rent, wages, supplies. But there are legitimate deductions they're leaving on the table. Equipment, training, professional fees, part of your internet or phone. Ask what you're missing.
About structure
"Is my current business structure the most tax-efficient for me?"
This might be: sole trader, company, trust, partnership. The answer depends on your income, family situation, growth plans. Your accountant can model it out. The answer might be "don't change anything," but at least you'll know.
About contractor vs. employee
"I'm thinking of hiring someone. Should they be a contractor or an employee?"
This isn't always obvious, and it affects tax, super, workers comp, and your legal obligations. Get clear on it before you start paying them.
About superannuation
"Am I doing the minimum on super, or should I be contributing more strategically?"
Making voluntary super contributions can reduce your taxable income — and it's tax-deductible. But there are limits and rules. A conversation now could save you thousands.
About cash flow
"Given my tax obligations, how should I be setting aside money for tax payments?"
This isn't a tax minimisation question, but it's equally important. If you're profitable, you'll owe tax. Knowing how much and when helps you plan your cash flow. (Spoiler: it's usually more than you expect.)
💼 Real talk: Good accountants don't mind if you ask "dumb" questions. They'd rather answer a question in May than see you scrambling in July. And good accountants love working with businesses that have clean bookkeeping, because it makes their job easier and faster. That's where we come in.
How to make the most of the meeting
When you sit down with your accountant (or before, if you work with a bookkeeper first):
- Come prepared with your numbers. Bring your bookkeeper's summary, your BAS records, anything recent. Don't make them dig.
- Ask specific questions. Don't just say "how can I pay less tax?" Say "I have $20,000 in business revenue and I'm wondering about structure" or "I'm thinking of hiring someone."
- Listen for the "if/then" scenarios. Good accountants will say things like "If you do X by 30 June, then you'll save Y in tax." That's your signal to act.
- Write down the actions. If they suggest you make a super contribution or buy equipment before 30 June, actually do it. A lot of tax advice sits on the shelf unimplemented.
- Ask them to explain things you don't understand. Tax law is complex, but a good accountant can explain it in words that make sense.
Why this matters for your business
I work with business owners who pay thousands more in tax than they need to, simply because they never asked the right questions at the right time. They're not doing anything illegal — they're just leaving money on the table because nobody told them there was a better way.
Conversely, I work with owners who had one conversation with their accountant in May, got some specific advice, acted on it, and saved thousands come tax time.
The difference isn't complexity. It's timing and clarity. Ask the questions before 30 June. Get specific advice. Act on it while there's still time.
Common questions
When is the best time to talk to my accountant about tax?
May — not June, not July. That gives you a month to act on their advice before the financial year ends, like timing discretionary expenses or making tax-deductible super contributions. Once you hit 1 July, the financial year is closed and you can't change anything.
What questions should I ask my accountant?
Ask what deductions you're not claiming that you could be, whether your business structure is the most tax-efficient for you, whether a new hire should be a contractor or an employee, whether you should be contributing to super more strategically, and how you should be setting aside money for tax payments.
Can my bookkeeper help me prepare for the accountant meeting?
Absolutely. Your bookkeeper lives in your numbers every day, so before you sit down with your accountant, ask your bookkeeper what you should be raising. They won't give you tax advice, but they'll spot things in your numbers — like home office expenses or equipment deductions — that deserve a conversation with your accountant.
Don't leave money on the table at tax time.
Bean Guru prepares your numbers and helps you ask the right questions of your accountant — so you can get proper tax planning done, not just tax return preparation.