When using a fee-based the best tax accountant service, it is essential to find a qualified professional. Even if your tax return is prepared by someone else, you are still responsible for the contents of your return and any additional fees, fines, or penalties incurred due to errors.
Why do you need a tax accountant?
First and foremost, your specialty is running a business. You are good at it because you are passionate about it. But you have to pay taxes because the government wants that part of your business. Do you have the time and energy to deal with changes in tax law? Do you have the time to go through your receipts and figure out which business expenses you can deduct and which you can’t?
Probably not. You are dedicated to serving your clients and disrupting the marketplace. Clients come to you because you are the service expert they need, and you solve the problems they need. So it makes sense for small and medium-sized businesses to use a tax specialist. That’s where a tax accountant can help.
How do I find a tax accountant?
If you only need to prepare tax returns, a tax attorney or Enrolled Agent is the best option. Tax accountant’s duties include:
- Collecting relevant financial records.
- Entering relevant tax data.
- Determining deductions, refunds, and payments.
- Applying federal, state, and local tax laws.
- Filing with the IRS and educating clients on tax procedures.
Now, keep the following tips in mind before finding a tax accountant for yourself.
Do good research.
When searching for a tax attorney or accountant online, check their credentials. Look for a certified public accountant (CPA), tax attorney, or registered agent. When talking to potential accountants, make sure they have a tax identification number (PTIN). They prepare your taxes, and the IRS requires their PTIN to be on your tax return.
Talk to other businesses in your area.
If you’re self-employed or a small business owner, or seek advice from a member of a professional organization. You can also ask colleagues, friends, or family members for advice, but their tax and financial situations may differ from yours.
Comparing fees for tax advisors
Some tax advisors charge a flat fee based on the difficulty of the tax return. Others charge a fee based on their firm’s standard hourly rate. Both methods are commonly practiced, with fee structures varying depending on the complexity of the individual’s tax situation. Individuals are typically charged a flat fee, while businesses work with a tax advisor throughout the year and are typically charged hourly.
Ensure electronic record keeping.
The IRS requires tax preparers who plan to file 11 or more returns in a calendar year to proceed electronically. If tax preparers don’t file electronically. They certainly don’t prepare as many taxes as one would expect from someone who claims to be a full-time tax preparer.
Find someone to help you.
In the event of a tax audit, you need a professional tax accountant on your side. A tax attorney with a CPA, PTIN, or registered agent can represent you in IRS audits, payment and collection issues, and appeals. It’s also good to see if they are available by phone or in person. If you need advice or assistance outside of tax filing season.
If taxes are complicated (for example, self-employed or renting), or if you simply don’t want to pay taxes, finding a good tax accountant can help and take a load off your mind.
A good tax advisor will be able to identify all the credits you are entitled to. And help you avoid filing for extensions or modifications or paying fines and penalties.
Villie Walters Ramirez is a 32-year-old sales assistant at a tax king who enjoys accounting, NYC Business License Renewal, and bookkeeping. She has a post-graduate degree in accounting, and she has a severe phobia of cats. She enjoys traveling A lot.