Doing your own taxes can be fun, if you like the challenge, but for people who do not have the time or the patience to tackle such a challenge, hiring the services of a tax professional is the only way to go. You can easily find a tax professional anywhere you go; however, can all tax pros deliver. In every profession, you will find experts, novices and everyone in between, but when it comes to doing your taxes, especially your business tax returns, you should choose carefully and choose only the best to avoid making unnecessary claims, which may result in the IRS breathing down your neck because, while you may not prepare your own 1040, you will be held responsible for what is on it
Choosing the right tax professional takes some research. While you can visit the web and select the first company or individual that Google presents, you can choose to visit the IRS website and select from their list of Federal Tax Return Preparers.
It does not matter the source you use when searching for a tax preparer, the only thing that matters is the process you use to choose one. Do not simply choose a “tax guy” because they have good feedback online, although great feedback means that he has a good reputation; however, follow these tips below when choosing a tax preparer to do your business and individual tax returns.
IRS Preparer Tax Identification Number, PTIN
Before hiring anyone to do your taxes, ensure they have a PTIN. Once they have a valid 2015 PTIN, the professional is authorized by the IRS to prepare your federal tax returns. Keep in mind, however, that having a PTIN does not mean that he or she is highly qualified to do your taxes. There are different levels of education and expertise, which is stated in each practitioner’s “representation rights”. All tax pros are divided and falls under the category Limited or Unlimited representation rights.
Ask Questions
One very important question to ask a tax preparer is, whether, or not they have a professional credential, such as certified public accountant, enrolled agent, or attorney; if they attend continuing education classes; or whether they belong to a professional organization. While it is not a law for tax preparers to have a professional credential, tax laws such as the Affordable Care Act provisions are constantly changing; therefore, a competent and professional tax preparer will want to stay updated with the changes to better inform their clients. Therefore, it is essential to ask these questions to make sure they are up-to-date and equipped to handle your taxes.
Before hiring a preparer, ensure that they offer IRS e-file and always request that they submit your returns electronically to the IRS. Tax preparers who files more than 10 returns must do so electronically because this is the safest and most accurate method for filing returns.
A qualified and efficient tax professional will always ask for your receipts; therefore, you must be prepared to answer personal questions about your spending habits. A good tax pro will always ask about your income and ask other questions to determine tax credits and deductions. Qualified professionals will request your W-2 in order for them to file your return. If the preparer only request your last pay stub, use someone else.
The preparer you choose should be available when you need them and they should be available even after you file your return; after April 15 for any questions or queries you have about your tax return.
Before selecting a tax preparer, you must also check on the fees they charge. Do not use a preparer who requires a percentage of your total returns or anyone who claims they can help you get a greater amount of refunds. Tax refunds should be sent directly to your bank account and not the person preparing your taxes account; therefore, if a tax preparer provide this option, do not use them to do your taxes.
Tax professionals such as James Wells EA MBA Tax Office are certified and accredited tax preparers who provide clients with the most professional services available. If you are searching for tax preparers who meet the above criteria, we are the professionals you need.
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