Are you looking for a tax advisor for your new business?
Interestingly, many entrepreneurs do not know how to do their taxes. One in five small business owners has no idea of their tax rate. Others do not know how to file their taxes.
Though problems like these may seem harmless at first, they can cost money in the long run. How do you choose tax advisors who can help you out?
If you’re asking where you can find a tax advisor near me, our guide can help. Continue reading below to find the right one for your business.
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Go for Experience
Whether it’s a property tax advisor or a tax preparer, your first consideration is their experience. Finding a CPA is good, but hiring one with several years of industry experience is better.
Look for an accountant with at least a decade of experience. They will likely have a deeper understanding of the tax code. Experienced tax advisors also know how to resolve various tax situations for businesses.
Ask about their specialization to get an expert best suited to address your specific tax concern. Read this to learn more about business tax consulting and strategy.
PTIN and License Matter
For tax advisors to prepare your federal tax returns, they should have a Preparer Tax Identification Number (PTIN). The IRS requires a PTIN before anyone can handle tax preparations.
If you hire a CPA, they should also have a license coming from the state’s Board of Accountancy. Alternatively, a licensed attorney or an enrolled agent who completed the Annual Filing Season program also qualifies.
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Industry reputation also counts in your search. You may find a seasoned tax advisor, but their performance may fall below your standards.
Hire someone well-known for their communication skills. Your tax advisor should ask questions about your long-term financial goals. Also, membership in a reputable tax advisors group is a plus.
Learn about the red flags when interviewing candidates. Fraudulent tax advisors are everywhere, looking for potential victims.
Go to tax advisor websites and read their customer feedback section. Look for patterns of negative behavior before committing.
Compare Tax Advisor Fees
Consider your budget and compare the rates of different tax advisors. For example, preparing a Form 1040 will cost you around $200. Some tax preparers charge a flat rate while others go by the hour.
Most tax advisors charge a minimum fee plus extra, depending on your tax return’s complexity.
Choose an advisor within your budget. Avoid the ones charging by your refund’s size. Stay away from those promising to get you a bigger refund than others.
Hire Tax Advisors Now
Finding the best tax advisor allows you to grow your business properly. You can handle your tax concerns and focus on other business areas. However, choosing tax advisors is only the beginning.
Are you looking for more valuable tips? If so, read our other guides today.