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Factors to Consider When Choosing a Tax Preparation service

Preparing your business tax return can be overwhelming, hence, the need to hire the services of professional tax preparers to handle your returns accordingly. Here is how to select the best tax preparer.

Verify that the tax preparer has the right qualifications including a Preparer Tax Identification Number. Any tax preparer whether an accountant, enrolled agent or an attorney, needs to have a PTIN before they can prepare tax forms for you. Look for other credentials like training and education which shows that they are qualified for the job. In addition, you may want to consider a tax preparer who continues with their education every year. Lastly, it is a good sign if they are a member of any professional organization.

It is also important to check into the history of the person who is going to prepare tax returns for you. Use word-of-mouth to know the reputation of a preparer to help you make an informed decision. Another good way to ensure that the person having access to your information is trustworthy is by checking if they have any disciplinary issues or complaints with Better Business Bureau. Check their licenses through the state bar for lawyers or state board of accountancy for accountants.

Availability of the tax preparer is another crucial thing to consider when you are making your decision. Make sure that your preparer will be available even after the April 15 which is the due date. It should also not be difficult to reach them by phone in case the return needs amendment or when IRS asks you questions regarding your return.

Look for a tax preparer who has a long history of success in the business. You can also determine their experience by inquiring how many business returns they handle in a year. Besides, the benefit of hiring a knowledgeable preparer in that they are more likely to be familiar with the changing tax codes that will be used in your situation.

Before you make any hiring decision, it is important to inquire what services are included as well as their fees. Apart from handling your return, there are preparers who will also offer audit services while some only specialize in returns. Inquire how they are going to charge you and stay away from preparers who charge a percentage of your returns.

Any professional tax preparer will ask you to provide them with your records and receipts and ask questions in order to ascertain your total income and deductions. Also, according to IRS, A good preparer will complete your return using Form W-2 rather than using your last pay stub.

Information about your income and investment is very sensitive and when it is not well protected, it could lead to fraudulent activities, hence, inquire about their security procedures. Along with ensuring that the preparer is trustworthy, also ensure that they follow IRS security measures to protect the information from third-party hackers.

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