Most business professionals spend their time learning about their industry or working to save money and earn more revenue. It only stands to reason that they either don’t have time to do their own taxes or they prefer a professional, like the ones found at Levy & Associates, to do them right. But how do you pick a tax accountant that can meet your needs, save you money and keep the IRS happy? We offer up three questions you should ask before choosing!
What Type of Tax Professional Do I Need?
There are actually a few different types of tax professionals, meaning that several people with different titles might be capable of preparing you or your company’s tax returns.
Obviously, a CPA (Certified Public Accountant) is the type of tax professional most people think about when they begin to consider hiring one for themselves or their company. They passed qualifying state exams to earn that title, including meeting specific educational requirements and gaining a good amount of experience.
An Enrolled Agent (EA) is someone that’s licensed through the IRS by either working for them for five years or after they’ve passed a special enrollment exam. This type of tax professional probably specializes in specific tax areas, and since they are continually taking different tax courses every three years, they might be more up to date – and possibly cost less than CPAs.
While those two are among the most common tax preparers, there are also financial planners and lawyers that might be able to do what you need done.
Is It Important That I Find Experienced Tax Consultants?
In most cases, this answer is always “yes,” but there might be some situations that don’t necessitate a very experienced tax accountant. For instance, if you likely have a very basic return, with few or no deductions and you just don’t have the time (or inclination) to do your taxes yourself, then you can use someone that doesn’t have too much experience.
Unfortunately, the less experience they have, the more chances they have of missing money you could get back in a refund, or take off as a deduction.
Most people need experienced tax consultants to navigate tax law for their business or their personal taxes. The importance you place on it is up to you, but erring on the side of caution is probably a wise choice.
Will the Tax Accountant I Choose Represent Me If I Am Audited?
As mentioned above, both Certified Public Accountants and Enrolled Agents can represent you before the IRS, if the IRS does choose to audit you. The fact they stand up for their work – and for you – is part of what you’re paying them for. These tax accountants are invested in making sure they prepare the best tax returns, while also navigating tax laws legally. The dedication to their field and their hard work makes customers happy, as well as the IRS.
When deciding how to pick a tax accountant, the people at Levy & Associates have you covered with all three of the above questions. They have tax professionals of every sort, along with CPAs, tax consultants and attorneys. Their experience dates back to when the firm was first created, 50 years ago, in the 1960s. And the fact that they have former IRS revenue officers on their team means they’ll certainly stand up for you if you are ever audited.