BONUS EPISODE!

Ben asks all the smart questions and Pete gives some advice on Tax Returns.

Key Takeaways:

• Year-Round Tax Planning: Starting tax planning as early as July 1 ensures better organization and maximized deductions.

• Utilize Technology: Software and tools can simplify tracking expenses and managing tax returns, making processes easier compared to last-minute rushing.

• Ethical Tax Practices: Christian values underscore the importance of honesty and integrity in tax reporting, reflecting broader societal benefits.

• Review Personal Finances: Use tax season as an opportunity to review and reassess your overall financial position, not just for tax purposes.

• Understanding Deductions: Be thorough with deductions but prioritize accuracy over maximization to avoid potential audits and penalties.

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Always love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

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