A Beginner’s Guide To Choosing The Right Tax Company
Business tax returns can give you valuable insight into revenue, expenses, and growth for your company. Therefore, it is crucial that you choose a tax professional who has knowledge regarding current tax credits, deductible expenses, and employee tax reporting. They must ensure your return meets the many requirements dictated by the Internal Revenue Service (IRS).
To help find the right one for your business, Fresh Start Tax Relief Services has put together a Beginner’s Guide to choosing the right tax company and the key traits you should look for.
Ask for a Preparer Tax Identification Number (PTIN): The IRS requires anyone who prepares or assists in preparing federal tax returns for compensation to have a PTIN. So make sure your income tax preparer puts his or her PTIN number on your return; the IRS requires that, too.
Determine legitimacy of tax professional: A PTIN is relatively easy to get, so take a step further and get a credentialed preparer, someone who’s also a CPA, certified public accountant, licensed attorney, EA, enrolled agent, or who has completed the IRS’s Annual Filing Season program.
Check for availability: Availability is also crucial. Even after the filing season is over and your tax return is history, the best tax preparers will take your call, respond to your email, or welcome you for a visit.
Have high-level communication skills: Getting your taxes done can be a complex, drawn-out, and sometimes stressful process. And that process will be immeasurably more stressful if you work with an accountant who doesn’t communicate with you.
A good accountant should foster open communication, keep you up-to-date on what’s going on with your taxes and make yourself available to answer any questions you might have about the process.
Advice From The Pros
Check for experience in your industry: While a tax accountant doesn’t need to have experience within your industry, it certainly doesn’t hurt! If you’re having a hard time narrowing down potential tax accountants, experience within your industry should definitely move an accountant further up the list.
Interview multiple tax professionals: Once you know what kind of tax professional you want to work with and what questions you want to ask, it’s time to actually start the interview process. In order to get a real sense of what’s out there and what different professionals have to offer, you should plan on interviewing multiple accountants.
Remember hiring a tax company to help you with your tax debt isn’t a quick process. Be patient and trust the process!
While your goal is to get results at the end of your tax case as a taxpayer, you will need to furnish the following information to ensure the tax process goes as smoothly as possible. You will need to,
- Tell the truth: Know what you owe and tell your tax representative the truth as to how or why you’re in tax trouble. Remember, these people are here to represent you. They are not the IRS.
- Maintain open communication: Always keep a line of communication open with your tax company. If you do not have all the information they are asking for, let them know right away so that another solution can be figured out.
- Gather necessary information: Get all the information your tax company is requesting from you into them in a timely manner. This will help to avoid extra costs on the taxpayer’s end and avoid any potential garnishments or levies imposed by the IRS.
Just make sure to follow the lead of the tax company that you hired. If they are good, they will always answer your questions and keep you abreast of your tax case.
At Fresh Start Tax Relief Services, our goal is to exceed your expectations. As the go-to experts in Winnipeg for all tax-related services, you can feel confident in hiring us for all your tax needs. We are a women-owned tax resolution company in Pasadena, California, specializing in tax preparation, tax relief, and tax settlement.
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