Looking for the best tax consultant for you or your business? Every year a little over 33% of all Americans hire tax preparers to help them navigate tax season. The complexity of the American tax code means that small changes in tax planning or tax strategy can have a huge impact on the final tax bill. A tax consultant needs to be well-versed in the legalities of the tax code so that they can correctly advise a potential taxpayer on reducing their tax bill as much as legally possible. Here are a few important recommendations when finding a tax consultant for your tax returns:
Referrals and Recommendations
Friends, family members, coworkers, and business contacts are a great source of referrals when searching for a tax consultant. An unbiased source of “inside information”, referrals are a great way to start the search for tax consultant. Referrals can help point taxpayers in the direction of professionals they can trust while steering them away from tax consultants that may not be competent.
This is a great way to quickly shortlist your options. Obviously taxpayers will still want to do research and due diligence on any of the tax consultants they are referred.
Confirm All Credentials
Of course, just being referred or recommended a tax consultant isn’t reason enough to partner with a tax consultant and have them prepare important financial documents for a taxpayer. Individuals will still want to confirm all of the credentials of these tax consultants.
Taxpayers will want to make sure that consultants have a Preparer Tax Identification Number provided to them from the IRS. It’s also recommended that taxpayers choose tax consultants that are CPA’s or IRS enrolled agents (EA’s).
Sit Down for an Interview
It’s always a good idea to sit down for an interview with tax consultants before partnering with them.
Sitting down across from a consultant so that they can answer your questions and give you an overview of their tax plan is highly recommended. It’s also important to get a feel for the tax preparation process they follow, the results they’ve produced in the past, and how they may be able to help moving forward.
Taxpayers should ask questions about the experience consultants have with clients in a similar situations and businesses as their own
These professionals should also know how to help a taxpayer lower their tax burden in a completely legal and responsible way. They should also be able to articulate how they can plan on minimizing your taxes and which deductions or tax strategies they plan on using.
Do try to schedule an interview that is at least 20 minutes long. This leaves plenty of room for the conversation to flow and all questions to be answered. It’s not uncommon for shorter interviews to be nothing more than sales pitches. Avoid them whenever possible, especially when making as important a decision as this one is.
Compare Pricing Structures
Finally, you want to get information about pricing structures that your tax consultant offers.
Take those numbers and compare them to the pricing structures of other professionals you are thinking about moving forward with. Price is not (or at least should not be) the most important factor a taxpayer should be focused on when hiring a tax consultant. But it is a consideration that may tip them in one direction or another.
At the very least taxpayers should be sure that the tax consultant they are working with is available at a price point they are comfortable with.
We recognize that tax season is often a stressful time for businesses and individuals alike. Our Glendale accounting firm’s mission is to provide clients with innovative, yet practical tax solutions that improve profitability, anticipate needs and provide our clients with the highest level of customer service, resulting in a smooth, worry-free tax season. Some of our tax services include:
- Tax Planning
- Tax Preparation
- IRS Audit Representation
- Bookkeeping & Payroll
- Incorporating
- Strategic Business Planning
- Financial Planning
- & More
If you are looking for a better accounting or tax experience, we invite you to see the Robert Hall & Associates difference for yourself. Call us at 818.583.8524 or fill out our contact us form to schedule a free consultation.
