As the old saying goes, there are only two certainties in life -; death and taxes. Although you can’t avoid the finality of death, your choice of tax preparer determines how trouble-free paying your taxes can be. These steps on picking a tax preparer for you or your business is presented free from Wagner and Associates Henderson NV and the greater Henderson area.
Are They Qualified?
The IRS does not require anyone to be certified in order to fill out tax forms. It is the financial industries that set certification standards for Certified Public Accountants (CPAs), financial advisors, tax attorneys, Enrolled Agents (EAs) or tax preparers. It does take considerable education and testing for anyone to become a licensed from the IRS. Many EAs used to work for the IRS. In order to work for the IRS, they will have undergone a thorough background check.
Does Not Make Guarantees
No tax preparer, no matter how many certifications he or she has, should give you a 100% guarantee about your taxes. That’s just not how reality and the United States tax system works. If there were guarantees, then you would not need to hire a tax preparer in the first place.
Familiar With Your Industry
If you need a tax preparer to work for your business, you need to make sure that the preparer is familiar not only with the tax laws in your state, but the tax laws as it applies to your industry. For example, there are many differences in tax laws if your business is a sole proprietorship, an LLC or a corporation. Ask your potential tax preparer how often he or she does taxes in your industry.
Representation if Audited
Unless you just have to file a basic 1040, your more complicated tax forms raises the chances for you or your business to be audited. It’s best to hire a tax preparer that is willing to represent you to the IRS should you happen to be audited. This is especially important if you own a business. You can ask what the tax preparer’s audit record is. A high percentage of audits is not a good sign.
