How to Find the Best Tax Preparer for You

When you’re a Pro, you’re able to pick up tax filing, consultation, and bookkeeping jobs on our platform while maintaining your flexibility. Go with a tax accountant you trust and feel comfortable with. CPAs and EAs are two of the most important credentials to look for in a tax preparer. Once you have your list of potential accountants, contact each one and schedule a meeting to find out more about them and determine if they are the right fit. Instead, compile a list of three to four potential accountants to choose from before making any decisions.

Accountants often specialize in working with specific types of clients, such as small business owners, expats, or clients who work in certain target industries. Maximize eligible deductions, file accurately with an expert. Automate extracting, validating, and organizing client tax data. Grow AUM with tax-aligned wealth solutions. Many big chains advertise various guarantees, such as that your filing will be mistake-free and that they’ll get you your maximum refund, or your money back. They may even cover the additional tax costs if they are due to a mistake they made.

How can Taxfyle help?

See how effortless business finance can be—when banking, business credit, and accounting come together in one powerful platform. You should consult your own tax, legal and accounting advisors regarding your specific situation. 2 Accounting, tax preparation and invoicing software is available to Lili Smart and Lili Premium account holders only; applicable monthly account fees apply. Once you’ve narrowed it down to a few people who meet the above criteria, it’s time to read some reviews. Rather than changing your entire system, find an accountant that can instantly integrate into your current systems to save the headache and expenses of migrating to their system. You can even ask the prospective accountant to share a list of clients (or at least client references) with you to make sure they are a right fit.

How many years of individual tax experience do they have?

Just because someone ranks well in a search engine doesn’t mean they have the right experience. Google is a natural first place to look, but use caution. But is there a minimum amount of experience you require? Taking the time to list your needs will help frame your search and choose the right person.

They’ll also ensure that you receive all of the correct deductions for any of your business expenses. Each state has its own education and experience requirements, but the Uniform CPA Examination is a standard. A bookkeeper will keep your books up to date, can offer basic advice for your business, and will keep you updated on your business day-to-day. Your resourcefulness is part of what sets you up well to achieve success as a business owner.

• Once you know what kind of tax professional you want to work with—and what questions you want to ask—it’s time to actually start the interview process.
• Open communication will make it easier for you to understand what’s happening with your taxes, and it will help build a positive relationship with your accountant.
• Also, check for complaints against CPAs with the appropriate state board of accountancy; for attorneys, consult their state bar association.
• The cost of preparing your taxes can vary, but generally an EA should charge less than a CPA, according to the Better Business Bureau.

Interview potential accountants

When interviewing potential accountants, watch out for red flags indicating the tax preparer is incompetent or untrustworthy. Here’s a guide to help you find an accountant to handle your tax prep and what to look for when choosing a professional tax preparer. The good news is that there are professionals out there who specialize in helping people just like you get their taxes done quickly and accurately—accountants! But if you do need a little extra support when tax time rolls around, you now have the tools you need to find, vet, and hire the best accountant for you and your business.

An Enrolled Agent (EA) is a tax professional who has passed the IRS’s stringent testing requirements and has at least one year of work experience preparing taxes. So, if you own a business, you’ll want to find a tax accountant who specializes in business taxes. First and foremost, you want to ensure that the accountant is qualified and experienced in handling your particular tax situation. When it comes to determining what type of accountant you need for filing your taxes, it’s essential to consider a few factors. Paid preparers who do taxes for more than 10 clients generally must file electronically. They range from big tax-preparing chains to small businesses that also sell insurance or other services to individual tax preparers.

But if you’re like most people, once you hire an accountant to prepare your taxes (and are happy with the job they did), you will likely want them to do it every year. A professional tax preparer should stand by her tax return and represent you in the unlikely case you are audited (for an additional fee). If you are considering early exercising of a significant number of options or are thinking about selling options in the public market for the first time we highly recommend retaining a reputable tax accountant.

Avoid any preparer who plans to charge you based on the size of your tax refund. If you make less than $79,000 a year, you can use the IRS’s Free File Program, which lets you prepare and file your federal income tax online for free. These experts typically don’t prepare consumer tax returns, although they are included in the IRS directory.

How Do You Know if You Need Help With Your Taxes?

Let’s dive into how you can find the best tax professional to support your business, plan for the future, and help you avoid costly mistakes during tax season. A tax preparer with an in-depth understanding of tax laws and financial data, including up-to-date knowledge of the IRS and state boards, is crucial. Whether you’re managing your personal finances or overseeing a small business, finding a good accountant means knowing what to look for. Lili is not a tax preparer and does not provide tax, legal or accounting advice. Here are a few other questions to ask yourself before filing taxes, to be as prepared as possible.

Get our FREE Tax Guide for Individuals

Enrolled retirement plan agents and enrolled actuaries are other preparers with PTINs. You can have anyone—your uncle, your neighbor, or your best friend—prepare your tax return. We love to hear from firms that have made the busy season work for them–why not use this opportunity to scale up your business and take on more returns using Taxfyle’s network?

By keeping these traits in mind, you can find a tax professional who will not only help you with tax preparation but also provide valuable financial planning support for your small business. The right tax preparer will show a genuine interest in understanding the ins and outs of your business’s finances, including financial data, financial statements, and other financial information. While personal taxes might feel straightforward, especially when you’re using tax software or filing on your own, business taxes are an entirely different ballgame. Hiring a tax preparer can be a game-changer, especially when you’re managing complex financial data, dealing with a tricky tax situation, or simply trying to avoid mistakes that could cost you down the line.

What Are Warning Signs You Picked the Wrong Tax Preparer?

If you talk to someone who works in a large firm then you need to determine who will actually work on your taxes and who will be your point of contact. An outstanding tax advisor should because it typically takes as little as 15 minutes on most people’s prior returns to determine if she would be comfortable preparing your return. His MBA included individual, partnership, corporate and fiduciary tax, which is more than one needs if she wants to specialize in individual tax, but it’s awfully nice to have someone advise you who has that broad perspective. If you work for a technology company that issues stock options or RSUs, then make sure your accountant has worked with plenty tips for finding the right tax accountant of other clients in the same situation.

Top Traits for Your Tax Professional and How to Find a Good Accountant

Save time with automated accounting—ideal for individuals and small businesses. You may also need to file an amended tax return. In many Hispanic neighborhoods, travel agencies, insurance agencies, and others will prepare and file your taxes.

• Ask colleagues, friends, and family members if they have a tax preparer they trust with their tax returns and financial information.
• Likewise, if you have foreign investments or face other specific tax challenges, you’ll want to look for someone with the appropriate knowledge and expertise.
• Make sure the preparer offers an IRS e-file and ask to e-file the tax return.
• Certified Public Accountants (CPA), Enrolled Agents (EA), and tax attorneys are the highest credentials that a tax preparer can possess.
• If you’re having a hard time narrowing down potential tax accountants, experience within your industry should move an accountant further up the list.

That’s why it might make sense to look for someone with more advanced training like a tax specialty within an MBA. A CPA can do tax work even if she hasn’t had any special training in tax. Tax Attorneys should have a LL.M in Tax (an advanced tax degree for an attorney). For many people, buying a home is a huge life event and financial milestone.

How Do You Find an Individual Tax Preparer?

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Since tax laws vary state by state, it’s ideal to work with someone well versed in your state’s tax provisions. There are enough CPAs in the world (and your state) for you to be selective when trusting someone with your taxes. Early on in the journey of a new business, there is generally more time and less money. Accountants can be costly, and at the earliest stages of business, you might want to wait until you’re generating enough revenue to make such costs worthwhile. If you have any concerns, check online review sites to get an idea of other consumers’ experiences with the preparer.