Finding the right tax advisor can have a significant impact on your organization. Working with the wrong advisor can lead to a litany of issues and hassles, resulting in additional work and unnecessary headache for your board of directors. However, finding a tax advisor that is the right fit for your organization can save you time, and ultimately – money.
Here at Beck and Company Certified Public Accountants and Business Advisors we are experienced and qualified to help your organization with their tax preparation and can offer further advice on securing a tax advisor as well. Learn more about our tax service offerings here.
Whether you choose a Beck and Company CPA or someone else to serve as your tax advisor, keep the following hints in 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 organization. These hints are intended to 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:
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.
Don’t rely on these hints alone, you will also want to be sure to interact with and communicate with three or four options in tax advisors before making a final decision. When you interview, consider the following questions to ask. Their answers will offer guidance and insight into your ultimate tax advisor selection. 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 organization?
- 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?
There is not a one-size fits all answer to the above questions. Rather, there will be a right answer for your unique situation and needs. The best advice we can offer is to be diligent about doing your research. This will provide you with the information you need to make an educated decision when it comes to choosing a tax advisor. For more information about the process or to find a tax advisor for your organization, contact us here at Beck and Company CPAs.