Are you looking for a skilled tax accountant in Orlando who can help you in avoiding trouble with the IRS and paying the least possible amount in taxes? Accountants are capable of this, but only when you hire the right one. How do you figure this out? Simple, whenever you interview any accountant in Orlando, be sure to ask the following questions. The answers of the accountant will help you in making a sound decision.
What clients does the accountant work with?
Every accountant in Orlando is specialized with a certain type of business. The accountant you hire must have experience of working with companies like yours. Tax laws do vary with every industry, and until the accountant is fully aware of what goes on in your sector, he can never help you in getting the maximum possible refund.
For instance, a restaurant has to follow different policies for wages whereas contractors have to deal with different construction issues. As such, taxes are also deducted according to different laws and your chosen accountant in Orlando must know them fully.
Is the accountant available 365 days a year?
There are so many accountants that do not deal with clients once April 15 passes. Come the next tax season, and they open their business again. While such an accountant may charge less, he is definitely not a good choice for your company because a tax issue can arise at any time of the year not just during the prime months. Should this happen, you must be able to contact your accountant and ask him for advice.
How many experiences does the accountant have with the IRS?
You might have come across a lot of people who prefer hiring a Certified Public Accountant or a CPA rather than Enrolled Agent or an EA. The prime reason behind this is that CPAs obtain their certification after fulfilling more aggressive and tougher requirements. Generally, CPAs are skilled at tasks related to bookkeeping and financial planning. EAs, on the other hand, are more apt in handling tax issues and are more often than not ex IRS agents. As such, most of the EAs have extensive experiences with audits and can guide you extremely well should the IRS trouble you about taxes.
Will the accountant be directly involved with the work?
Almost every accountant in Orlando outsources their tasks to another party. This does not imply that their offered services have a low quality, but it is better if you are in contact with the person doing your work? This makes communication easier, and so the work can be conducted more efficiently, and exactly according to your requirements.
How does the accountant charge the bill?
Generally, accountants take their fees by two main methods: flat rate and hourly rate. If you do not have enough work for your accountant, opt for hourly rate. However, if you want your accountant to accomplish plenty of tasks, go for a flat rate because that should probably incur lower costs.
How to Hire an Accountant in Orlando
Hiring an accountant can help you managing your private or corporate financial aspects. Contrary to the perception that professional accountants work only for large scale organizations, Certified Public Accountants (CPAs) offer services to start-ups, small business owners and individuals.
Although there are a number of accountants, you should keep following considerations in mind to hire a reliable and competent accountant in Orlando.
One of the easiest ways to hire a reliable accountant is to get referrals from friends, colleagues or an attorney. You can also conduct an online survey to find a reputed accountant. In order to choose a trustworthy and competent accountant, make sure that the accountant is enlisted in the Society of Certified Public Accountants of Florida. Every state in the United States has its own Society of CPAs, in which licensed accountants are registered.
2. Type of Service
There are three types of accountant services:
- Keeping a track of transactions.
- Assembling transaction records.
- Producing financial and return statements.
Determine the type of service you want to avail. The first two services are not technical and do not require high level of competency, but generating statements requires hands on experience and adequate knowledge. Therefore, it is better to rely on an experienced accountant in Orlando who can handle all kinds of financial aspects.
3. Interpersonal Skills
People often underestimate the importance of interpersonal skills while choosing an accountant. They only focus on accountant’s competency, knowledge and experience. There is no denying the fact that all these factors matter a great deal, but it is also very important to choose an accountant whose personality is compatible with yours. Interpersonal skills are of prime importance when it comes to financial consulting.
4. Decision Making Ability
Interview the accountant before making the final decision. Ask questions and make sure that he/she is able to answer all your queries. It will also give you an opportunity to judge the decision making ability of the accountant. It is important for you to understand that you are choosing an accountant to handle the financial aspects of your business and any wrong decision can impact your financial stability.
5. Terms and Conditions
Make an engagement letter bearing all the terms and conditions you want to incorporate in the final agreement. This will provide an opportunity to you and your accountant to resolve all the discrepancies before signing the contract. Moreover, this will help the accountant to understand your business and the level of financial assistance you are expecting.
Ask the account about fees structure upfront. Every accountant charges differently and fees structure varies with the type of service, accountant’s reputation and nature of your business. Although a reputed accountant in Orlando will charge slightly more than others, it is not recommended to compromise quality services over fees. Conduct an online survey to learn about market rates and fees structures.
Some people might think that hiring an accountant for financial assistance is an extra expenditure, but a professional accountant in Orlando can help you in improving the productivity of your business.
If you need more information about our Orlando accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.