Hiring a tax accountant is important for people of all walks of life. Whether you are a business owner or an employee often you will need the assistance of an accountant for handling your finances. Tax time is one of the most stressful time for some tax payers and the help of a good accountant can be invaluable. Below we discuss tips for finding a good tax accountant.
When seeking a tax accountant, you should always try to find someone that has dealt with situations that are like your own; for example, if you are being audited, the last thing you want to do is to hire someone that has never handled an audit. Never forget that you are always responsible for the information that is on your tax return and not your tax accountant.
Always ask your friends and family about their tax accountants if you are looking for one for yourself. Work of mouth is the best way to find a tax accountant.
If you meet a tax accountant that is guaranteeing you a higher return or they are telling you that everything can be deducted, be leery.
If you are not comfortable with your tax accountant, do not be afraid to find someone else that will make you feel at ease.
When you file your income tax at places like Jackson Hewitt and H&R Block you are hiring competent preparers however, they are mostly for the non-complicated tax situations now, there are some preparers there that do have more experience than others but if your taxes arent the standard Head of Household, Single things of that sort, you want to make sure that they are familiar with the proper deductions and rules as well. You can always request their senior tax preparer, enrolled agent or CPA.
If you choose to go to a local business for your tax needs, they usually specialize in tax needs for small businesses in and around their neighborhoods and the tax needs of individuals that are again, in and around their neighborhoods. If you are unsure of experience you can always inquire as to if they have dealt with your situation in the past.
An Enrolled Agent is someone that has gone through a lot to be a tax professional because they have passed background tests and tax tests that were given by the IRS. These agents are known for dealing with complex tax situations and they can represent you if you should go before the IRS for an audit.
CPAs or Certified Public Accountants are accountants that have passed the CPA exam and they have licensed by the state that they work in. These accountants have specific areas that they specialize in as it refers to accounting. Some CPAs specialize in tax accounting while others specialize in handling tax issues. CPAs can represent you if you need to go in front of the IRS because of collections or an audit.
A tax lawyer specializes in tax law. They have gone through years of schooling and have received their masters of law degree in taxation. These are the attorneys that you want to use if you have a difficult legal matter like if you should take your case before the US Tax Court or you should prepare a return for an estate.
