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. Here are some tips for choosing the best tax preparer to meet your business needs.
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. The other thing to consider when choosing a tax preparer for your small business is their certifications. For CPAs, it is crucial that they are licensed and regulated by the state’s board of accountancy. For a tax attorney, ensure that they have a tax specialization certificate from a states bar association.
You can locate good tax preparers by getting recommendations from other small businesses, attorneys or friends who have used their services. If you are looking for a tax preparer that is a CPA, you can check for recommendations in CPA societies. You can also for advertisements in journals and newspapers.
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. The prepare should be handling a total of 100 returns at least in an year or more depending how complicated a single return is. 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 is crucial because there are professional who are only available before April 15 and open during the following tax season. They should be easily reachable in case IRS requires some answers about your tax returns or when some amendments needs to be done.
Take your time to get to know their services before making your decision. Make sure that the tax preparer you choose such as bill sefton chicago is able to offer the services you need such as audit services, tax planning, and adjustments of tax payments.
Compare their fees and methods of payment and choose the one that suits your business best. Different tax preparers charge varying fees depending on how complex the situation at hand is. You may be charged at a flat rate basis or by hours, thus, find out how they bill their services and select the one that is most suitable for you.