Last week, we took a look at factors that go into choosing a tax advisor and what your business should be getting out of this tax advisor. You can read more about this here. Now that you know what you should be looking for and what benefits should come out of having a tax advisor, it is time to take a closer look at the process of actually securing a tax advisor for your business during the hiring process. Beck and Company’s Certified Public Accountants and Business Advisors are experienced and qualified to help your business with their tax preparation and can offer further advice on securing a tax advisor as well. We provide innovative tax compliance and consulting solutions in addition to tax planning and preparation assistance. We have certified public accountants (CPAs) who can help. Learn more about our tax service offerings here.
Whether you choose a Beck and Company CPA or someone else to be your tax advisor, the following hints should be at the forefront of your mind when choosing the right tax preparer or advisor to do your taxes. Finding an advisor who is truly committed to your business success is absolutely paramount. Selecting the right advisor should be a process not unlike selecting a full-time employee who’s the right fit for your business. These hints will help you to secure the right person with the right intentions which will ultimately save you from major headaches down the road. With that in mind, consider the following hints.
Helpful Hints When Choosing a Tax Preparer/ Advisor
- Use a reputable tax professional who signs the tax return and provides a copy.
- Consider whether the individual or firm will be around to answer questions about the preparation of the tax return months, or even years, after the return has been filed.
- Check the person’s credentials. Only attorneys, CPAs, and enrolled agents can represent taxpayers before the IRS in all matters, including audits, collection, and appeals. Other return preparers may only represent taxpayers for audits of returns they actually prepared.
- Find out if the preparer is affiliated with a professional organization that provides its members with continuing education and resources that also holds them to a code of ethics.
- Be cautious of tax preparers who claim they can obtain larger refunds than other preparers.
These hints alone are not sufficient. You will want to be sure to interact with and communicate with three or four options in tax advisors before making your final decision. When you interview them, consider the following questions to ask them. Their answers will offer guidance and insight into your ultimate tax advisor final decision. In addition to these guiding questions that are found below, a few key qualities you should discuss during an interview are availability, qualifications and experience, client longevity, and price.
Questions to Ask when Choosing a Tax Advisor
- What is the candidate’s educational background? Do they have an advanced degree?
- What qualifications does the candidate have?
- Do they have expertise in areas relevant to your business?
- How long has the candidate been doing tax advising?
- Do they have any licenses? If so, which licenses do they have?
- Will he or she provide at least three references of current clients?
- Have they been cited by any professional or regulatory body for disciplinary reasons?
- How and what do they charge? What fees will they charge?
- Do they provide ongoing reviews and planning strategies for you?
- Will they represent you if you are audited?
- Are you comfortable with your prospective accountant/ tax advisor?
The right answer to these questions depends on your individual business’ situation and needs, but what is most important is that you do your homework and make an educated decision when it comes to the important choice in picking a tax advisor. For more information about the process or to find a tax advisor for your business, contact us here at Beck and Company CPAs.