Asking the right questions can help ensure you get a good one ALEXANDRIA, VA, March 11, 2013 – Right about now you’re probably wading through tax records and filling out your tax return. But it’s a daunting task – one that can be frustrating and eat up more hours that you have to devote to it.
But you don’t have to go it alone. The National Society of Accountants (NSA) offers the top ten reasons why you may want to hire a professional tax preparer:
10. It takes the hassle out of doing it yourself.
9. You don’t have to keep up with the many tax law changes or understand complicated tax law.
8. Making mistakes can be very costly.
7. Your time is worth money – add up the hours you would spend doing it yourself and calculate what that’s worth.
6. A tax program in a box cannot represent you in an audit.
5. A tax professional can answer your questions to help you make smarter tax-saving decisions.
4. A tax professional can help you plan all year and for future years.
3. A tax professional can recommend ways to save on taxes
2. It gives you peace of mind knowing that a professional is taking care of it.
And the number-one reason you should hire a tax preparer is:
1. It can save you money – if your tax preparer finds even one significant deduction or tax credit you may have missed, it can easily exceed the average $246 fee it costs to have a professional prepare your return.
If you plan to hire a tax professional to prepare your taxes, you do need to gather and organize your records, including W-2 forms, 1099 forms, mortgage and bank statements, charitable contributions, and so forth. Being organized saves your tax
preparer time and keeps the fees down.
To find a tax professional, ask your friends or business colleagues who they use and like. Interview a few candidates. Check out the nationwide NSA Find a Professional database at http://connect.nsacct.org/FindaProfessional to find a tax preparer in your area. NSA members are required meet minimum ongoing continuing education requirements and uphold a strict code of ethics.
Questions to Ask
When interviewing a prospective tax preparer, ask these questions:
• Do you offer a free initial consultation?
• How do you keep up with the latest tax law?
• Do you regularly take continuing education courses?
• Are you a member of any professional tax or accounting organizations?
• What are your professional credentials?
• Do you abide by a code of ethics?
• How do you determine your fee to prepare my return(s)? Is it a fixed fee or an hourly rate?
• Who will prepare my return? Will it be you or someone else in your office?
• If you have employees who will work on my return, do they hold any credentials and do they take continuing education courses?
• When do you require payment?
• When can I expect to receive my completed tax returns back from you?
• How long have you been in business?
• Are you bonded or insured?
• Do you outsource any tax preparation services?
• What happens if I get audited?
• Are you registered with the IRS with a Personal Tax Identification Number (PTIN)?
• Will you store my tax information? How will it be stored and for how long?
• Can I contact you after tax season if needed regarding my return?
