Tips for Choosing a Tax Preparer
Hiring the right tax professional for your business is crucial; however finding the right one can be overwhelming. Here are some tips for choosing the best tax preparer to meet your business needs.
When seeking for a tax prepare, the first thing is to ensure that they have a valid Preparer Tax Identification Number (PTIN). Ensuring that the tax preparer you are considering has a valid PTIN will give you peace of mind knowing that you are hiring the right professional for your business. The other tip is to check what kind of certifications they hold as this will determine the quality of work you will receive. For CPAs, it is crucial that they are licensed and regulated by the state’s board of accountancy. Tax attorneys need to have a degree in tax law or have a tax specialization certification from the state bar association such bill s sefton.
You can locate good tax preparers by getting recommendations from other small businesses, attorneys or friends who have used their services. If you are looking for a tax preparer that is a CPA, you can check for recommendations in CPA societies. Also you can get names of tax preparers in sources like newspapers and trade journals.
Experience is a key consideration when selecting a tax preparer for your small business. Before you make any hiring decision, get to know how many business returns the tax preparer does in a year. A good tax preparer should be handling at least 100 returns yearly. Besides, it would be a great choice if they have worked with other businesses that are similar to as they will use their know-how of the industry to meet your needs. What’s more, a tax preparer who is updated with the current tax codes is a good fit for your business.
Availability of the tax preparer is another crucial factor to consider when making your decision. This is crucial because there are professional who are only available before April 15 and open during the following tax season. For any small business, tax issues may be unpredictable; hence, it is crucial that you do look for a preparer who will not shut their doors after the 15th of April.
Take your time to get to know their services before making your decision. Some other services offered by tax preparers include, auditing, tax planning, and representing you when IRS calls.
Compare their fees and methods of payment and choose the one that suits your business best. In most cases, the fees for preparing tax returns will depend on how complex the situation is. Some of the tax preparers charge a flat fee rate while others charge by hour in order to prepare your return.