Tuesday, January 26, 2010

4 Important Things To Consider When Selecting a Tax Accountant

Posted on 12:58 PM by programlover

4 Important Things To Consider When Selecting a Tax Accountant   by Scott Miller


in Accounting   (submitted 2010-01-25)



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Many of us decide that filing our tax returns is better left to experienced professionals. After all, the process is often difficult to understand and the fear of our making a mistake and costing us additional fees looms large. Hiring an accountant can both reduce our stress as it pertains to our tax liability and can result in a more complete and correct return as well.


Having said that, it is important that you do your due diligence when looking to select a tax accountant to ensure that your decision best fits your needs. Here are some tips to keep in mind during your search:





  1. No one is perfect

    Even the best, most experienced accountants make mistakes from time to time. Make certain that you deal with someone who is honest and who will take responsibility for their mistakes, if they, in fact should occur. You should not have to pay for the mistakes of an accounting professional.

  2. Do a background search

    Whenever you are going to meet a new tax accountant, do a background search on his/her reputation. This might also involve checking the degree that the accountant holds, whether the license is still valid, and a cursory check of his clientele as well. Ask around about the level of services that the accountant provides, and if possible, meet up with some of his clients and have a chat about the services they receive, whether they are satisfied, are there discrepancies, etc. The best way, in this regard to find a good tax accountant, is to meet with someone who has been recommended by someone you know, and trust.

  3. Investigate storefront preparers

    Storefront preparers are the large firms that provide tax accounting services to a large volume of customers every year. These firms provide a wide range of services that start from basic accounting to financial counseling. Typically, if you go to one of these, you will be assigned to an employee (who will be a tax accountant) and then the employee will deal with your needs directly. However, if you are not pleased with the quality of work, waste no time in reassigning yourself as this is your finances and livelihood we are talking about - there can absolutely no compromise about this issue and the firm will certainly understand as you must be comfortable with the person you are working with.

  4. Ask for a written fee proposal

    This is also a good way to see if your accountant is above board. Most dishonest accountants will quote a basic fee for the tax return, but add on other fees once you get started with them. Getting a written quote for all the services at the outset will clear the air and you will be able to decide whether the fee rate is suitable for you.





  5. There are numerous options out there when you are looking for a tax accountant. However, a little caution and due diligence will make sure that you end up with the right one for your particular situation.