The Ultimate Guide to Taxes

How to Select the Perfect Tax Preparer for Your Small Business

When it comes to hiring a tax preparer to handle your tax returns, you need to consider some factors in order to help you make an educated choice. 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. Also, pay attention to their certifications and make sure that they are holding the right certificates that qualify them to be tax preparers. 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. A referral form a professional organization is also a great way to identify a reputable tax professional. Besides, newspapers, trade journals, and directories may contain important information to help you with your search.

Just like any other professional, it is important that the tax prepare you choose has the extensive experience. Find out the number of business returns the tax preparer of your choice can handle yearly. A good tax preparer should be handling at least 100 returns yearly. You want to make sure that your tax preparer has worked with other businesses similar to yours as they will be in a better position to meet your business needs. What’s more, a tax preparer who is updated with the current tax codes is a good fit for your business.

Availability of the tax preparer is another crucial factor to consider when making your decision. This will help you weed out firms that close after April 15 and only open during the tax season. They should therefore be available year round to help you with any tax return issues or represent you when IRS calls.

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.

The tax preparation fees should also be considered when selecting a professional to handle your tax returns. In most cases, the fees for preparing tax returns will depend on how complex the situation is. Also, the method of billing varies because some charge by hour while others charge for their services on a flat rate.

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