How to Choose a Tax Preparer
April 15th will be here before you know it. Do you question whether you are accurately preparing your taxes each year and declaring all of the deductions you are eligible for? Whether its personal taxes or corporate taxes, preparing a tax return can be tedious and cause anxiety. If you reach the point that you are ready for a professional to take the reins there are some important things to consider when looking for a professional Tax Preparer.
One of the key things to ask for is credentials. Beginning in 2011, the Federal law states that any person that is paid to file a return must have a current Preparer Tax Identification Number, or PTIN. It is also very important that a tax preparer is active in a professional organization that holds them to certain standards and ethics, and continuing education. Tax laws and information change all of the time and you want to be confident that the tax preparer you choose is knowledgeable and meticulous with your tax return.
It is smart to do a little research and investigate the preparer's history. Check online and see if there are reviews or ask for references. It is important that you are handing over your financial information to a trustworthy person with an excellent reputation. After all, even though this person is filing your return for you, YOU are ultimately responsible should any questions arise or your return is audited by the IRS.
You also want to ask what the fee is for preparing the taxes and if that fee includes filing. These factors usually just depend on whom you are considering to do your taxes. A CPA is not allowed to charge a percentage fee of the amount of your refund. Some may charge a flat fee and some even bill by the hour. Sometimes extra services are offered at an additional cost. You want to make sure you know exactly what fees the preparer is expecting, so be sure to ask questions.
The tax preparer will expect that you are prepared to provide all necessary receipts and paperwork. Whether your return is simple or complex, you should be able to supply the professional with proof of income and any information concerning expenses and deductions that you are planning on including on your tax return. You want your tax preparer to be armed with all of the necessary and important information in order to insure that taxes are filed accurately.
Once the return is completed make sure you review the work. Make sure you are aware of everything that has been entered on the return and that the information is correct. Should any questions come up in the future, you want to know exactly what you filed. The preparer must also sign the return and include their PTIN number, which is stipulated by law. You should be provided with a personal copy of the return to keep for your records.
Tax season can be an overwhelming and anxiety ridden time for some people. The great news is that there are numerous experts that are ready, eager and certified to assist you. Do your research. Look at all of your options until you discover a trustworthy professional to help you with your tax return and filing.
One of the key things to ask for is credentials. Beginning in 2011, the Federal law states that any person that is paid to file a return must have a current Preparer Tax Identification Number, or PTIN. It is also very important that a tax preparer is active in a professional organization that holds them to certain standards and ethics, and continuing education. Tax laws and information change all of the time and you want to be confident that the tax preparer you choose is knowledgeable and meticulous with your tax return.
It is smart to do a little research and investigate the preparer's history. Check online and see if there are reviews or ask for references. It is important that you are handing over your financial information to a trustworthy person with an excellent reputation. After all, even though this person is filing your return for you, YOU are ultimately responsible should any questions arise or your return is audited by the IRS.
You also want to ask what the fee is for preparing the taxes and if that fee includes filing. These factors usually just depend on whom you are considering to do your taxes. A CPA is not allowed to charge a percentage fee of the amount of your refund. Some may charge a flat fee and some even bill by the hour. Sometimes extra services are offered at an additional cost. You want to make sure you know exactly what fees the preparer is expecting, so be sure to ask questions.
The tax preparer will expect that you are prepared to provide all necessary receipts and paperwork. Whether your return is simple or complex, you should be able to supply the professional with proof of income and any information concerning expenses and deductions that you are planning on including on your tax return. You want your tax preparer to be armed with all of the necessary and important information in order to insure that taxes are filed accurately.
Once the return is completed make sure you review the work. Make sure you are aware of everything that has been entered on the return and that the information is correct. Should any questions come up in the future, you want to know exactly what you filed. The preparer must also sign the return and include their PTIN number, which is stipulated by law. You should be provided with a personal copy of the return to keep for your records.
Tax season can be an overwhelming and anxiety ridden time for some people. The great news is that there are numerous experts that are ready, eager and certified to assist you. Do your research. Look at all of your options until you discover a trustworthy professional to help you with your tax return and filing.
About the Author:
Learn more about Nancy Froelich, CPA. Stop by www.texasquickbookshelp.com where you can find more about Tax Preparation and what she can do to help.