Hiring the right tax professional for your business is crucial; however finding the right one can be overwhelming. The following are some things that you should consider when choosing a tax preparer for your business.
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. For CPAs, it is crucial that they are licensed and regulated by the state’s board of accountancy. 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. If you are looking for a tax preparer that is a CPA, you can check for recommendations in CPA societies. Besides, newspapers, trade journals, and directories may contain important information to help you with your search.
Find out about the experience of the professional in tax preparation before hiring their services. Before you make any hiring decision, get to know how many business returns the tax preparer does in a year. The prepare should be handling a total of 100 returns at least in an year or more depending how complicated a single return is. 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. 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.
Another tip is to check the availability of the tax prepare before you decide to hire them. Some firms are not available year round but only during the 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.
Take your time to get to know their services before making your decision. Decide whether you will need other services such as tax planning and auditing in order to help you choose the right preparer for your business.
Compare their fees and methods of payment and choose the one that suits your business best. Different tax preparers charge varying fees depending on how complex the situation at hand is. Also, the method of billing varies because some charge by hour while others charge for their services on a flat rate.