Business Consulting
Optimise your consulting practice structure and tax efficiency with accountants who understand professional services, intellectual property, and project-based revenue models.
Business Consulting
Business Consultant Accountants Melbourne
Business consultants face unique challenges around personal services income rules, intellectual property ownership, and project-based revenue recognition that require specialized accounting knowledge. Many consultants operate through multiple entities or international clients, creating complex compliance obligations.
Managing consulting income requires understanding of milestone billing, work-in-progress valuations, and bad debt provisions that differ from product-based businesses. Irregular income patterns make cash flow planning essential but challenging.
Professional indemnity insurance, continuous professional development, and industry body membership costs are significant expenses that need proper tax treatment. Poor structure choices can limit income splitting opportunities and increase overall tax burdens.
Whether you need personal tax assistance or full practice-level accounting, Keystone is here to safeguard your financial health.
Business Consulting accounting services
Accountants Who Understand Complex Accounting
At Keystone Taxation and Business Advisors, we’re dedicated to helping business owners make the most of their hard work. Our expert insights and resources are designed to give you a clear understanding of strategies, structures, and technologies that can drive your business forward.
Strategic Tax Solutions
Discover tax strategies and business structures available to you
Technology for Growth
Understand and apply new business management technology
Tailored Business Advice
Get in touch with us for information tailored to your business
Self-Managed Super Funds
End-to-end SMSF setup, compliance, and advice to help you take control of your retirement.
Payroll & Bookkeeping
Accurate, ATO-compliant payroll and bookkeeping services so you can focus on growing your business.
Frequently asked questions
Got Questions? We've Got Answers
Have a question? We’ve answered some of the most common ones below.
How do personal services income rules affect consultants?
PSI rules can limit deductions and income splitting for individual consultants. We structure practices to minimize PSI impact through proper entity structures and operating arrangements.
What business structure works best for consulting practices?
Structure depends on income level, number of consultants, and growth plans. Options include sole practice, companies, partnerships, or trusts, each with different implications.
How should work-in-progress be valued for tax purposes?
Work-in-progress can be valued at cost or market value depending on circumstances. We ensure WIP valuations optimize tax outcomes whilst maintaining accurate financial reporting.
Can consulting practices claim home office expenses?
Yes, if you regularly use home space exclusively for consulting work. We calculate optimal home office claims based on usage patterns and expense allocation methods.
How should international consulting income be handled?
International income may trigger withholding tax, GST, or foreign tax credit obligations. We ensure proper treatment of international revenue streams and compliance requirements.
Ready to Get Started?
Structure Your Consulting Practice Accounting for Success
Our business consulting specialists understand the unique financial challenges facing consultants, from PSI compliance to international client billing. We optimise practice structures for tax efficiency whilst ensuring professional obligations are met.
With specialist consulting accounting, you'll minimize tax obligations, improve cash flow management, and maintain compliance whilst building a profitable and sustainable consulting practice.
