Factors to Contemplate When Hiring a Tax Professional
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.
The first and most important thing is to ensure that the tax preparer has a 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 thing to consider when choosing a tax preparer for your small business is their certifications. The first type of a tax preparer is the certified public accountant (CPA) who should be regulated and licensed to operate in your state. If you are considering a tax attorney, ensure that they have a special tax law degree or a tax specialization certificate.
You can locate good tax preparers by getting recommendations from other small businesses, attorneys or friends who have used their services. A referral form a professional organization is also a great way to identify a reputable tax professional. Also you can get names of tax preparers in sources like newspapers and trade journals.
Find out about the experience of the professional in tax preparation before hiring their services. You can gauge their level of experience by inquiring how many tax returns they are able to handle yearly. The prepare should be handling a total of 100 returns at least in an year or more depending how complicated a single return is. Make sure that they have also worked with other businesses that are in a similar industry to yours as they are more likely to understand your unique needs. Besides, the tax laws keep changing; hence an experienced professional like william s sefton will be familiar with the current tax codes in order to handle your returns effectively.
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. They should be easily reachable in case IRS requires some answers about your tax returns or when some amendments needs to be done.
Know what services you need and compare with those that the tax preparer offers you. Make sure that the tax preparer you choose such as bill sefton chicago is able to offer the services you need such as audit services, tax planning, and adjustments of tax payments.
The tax preparation fees should also be considered when selecting a professional to handle your tax returns. The fees charged mostly depends on the complexity of the tax return. Some of the tax preparers charge a flat fee rate while others charge by hour in order to prepare your return.