Latest news

Questions You Should Ask Your Tax Preparer

No comments

You know you will have to start focusing on filing your tax-returns when the tax season will be right around the corner. For all business owners, getting your tax filed is a must; however, you can either choose to do it yourself or get help from an expert tax preparation firm in Orlando.

Doing it yourself is obviously less expensive, but it only works if you know about the tax laws and regulations. Tax filing is complex, and most people who choose to do it themselves often overlook tax returns, deductions and credit, and make mistakes leading to audits and penalties. They only way to avoid this is by letting experts in tax preparation field do their job.

Here are a few questions to ask when you are searching for a reliable firm that can help you in tax preparation in Orlando, so you can find the most suitable person for the job and avoid tax scams.

Do You Have a PTIN?

Professional paid tax preparers have to obtain a PTIN – Preparer Tax Identification Number – for filing income tax returns from the IRS. This includes enrolled agents, CPAs, and attorneys. You don’t want someone who is unauthorized handling your taxes and personal financial information.

How Do You Determine Your Charges?

Do they have a fixed rate for all customers? Do they charge per hour? Tax preparers are prohibited by the IRS to charge based on the amount of tax returns. Reputed companies that provide tax preparation in Orlando charge their customers on the basis of the complexity of their tax returns. Beware of phony tax preparers who may file for improper credits just to charge a larger fee.

Who will sign my Tax Return File?

Getting your tax return signed by your tax preparer means that they take responsibility for their work and are confident about their accuracy. It also means that they will be available to answer for any mistakes and their consequences. This is the most important question you need to ask before opting for expert tax preparation services in Orlando.

Will my return be electronically filed?

Any tax preparer that gets paid for providing professional tax preparation in Orlando is required to do all the filing electronically , unless specifically asked not to. This is because electronic filing helps maximize accuracy and track errors.

What happens in the event of an audit?

Will the preparer represent you in front of the tax court or the IRS? How will they compensate for any mistakes that they’ve made?

Will you be available throughout the year?

Think twice before hiring someone who is only available during the tax season. This is because you might have questions during the rest of the year regarding your taxes. Moreover, it is important that your tax preparer is willing to help you out. So ask this question before you let them in on your personal financial status.

Asking the right questions is important because tax preparers have a significant impact on the financial status of your business. Do not base your decision on the price and consider the long term advantages of hiring the right tax preparer. If you have the right expert by your side, you’ll realize that filing taxes isn’t as difficult as it seems

 

Robert AcevedoQuestions You Should Ask Your Tax Preparer

Leave a Reply

Your email address will not be published. Required fields are marked *