TaxConnections

Login | TAXPAYERS | TAX PROFESSIONALS-START HERE

As a new income earning taxpayer, when should I consider hiring an accountant?

Accountant Income Tax Income Tax Accounting
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Chuck Heyde, CPA, CGMA
That's like asking if you need car or health insurance.

You could wait until you need it and hope a CPA can bail you out of trouble. Or you invest in your future right away and develop a relationship with a CPA right away.

Watch the 2nd from the top video - it is right on point - www.gemms.us/about-us/videos

Chuck Heyde, CPA, CGMA
www.GEMMS.us
Leave a Comment 258 weeks ago

User Photo
Michael Baum, EA
Please be aware that you can also select an Enrolled Agent, authorized by IRS to practice, under the same rules and to provide the identical tax
services of a CPA and often at a much lower cost.

Choose wisely. As a taxpayer, you are legally responsible for everything
reported on your tax return; whether you prepare it yourself or have
someone else prepare it for you. Below are some helpful tips in selecting an individual or company to prepare your taxes. While the majority of tax
preparers are knowledgeable, honest and professional, there are always
some who, as the saying goes, give everyone else a bad name.

Check the preparer' history. A great way is to either do a simple search on Google or ask for references from at least 3 clients. Contact the client yourself. Ask about their service fees. Many preparers will bill on an hourly basis. Make sure you know if they do and how much. Others charge a fixed fee per return with additional fees for certain forms.

Make sure they are accessible after the April due date in case you have a question about your return.

The preparer you choose should do all of the following:
Ask you to provide all receipts and records needed to prepare your return.
Never retain someone that guarantees a refund.
Never ask you to sign a blank return.
Have you review the entire return before you sign it.
Sign the return and include their preparer tax identification number (PTIN) issued by IRS For more information you can visit the IRS web page on
choosing a Tax Professional. www.irs.gov/Tax-Professionals/Choosing-a-Tax-Professional

Chuck is absolutely correct to advise that you should retain a professional even before you need one. Like the old Fram commercial reminded, "You can pay me now or pay me later."
Leave a Comment 257 weeks ago

Meet Leading Tax Advisors

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John L Stancil

Tax Advisor/CEO

Lakeland, FL

User Photo John R Dundon, II EA

Tax Director

Denver, CO

User Photo Kevin Johnson MS, JD, LL.M, CPA

Partner

Philadelphia, PA

User Photo Brian Weaver, CPA, MBA

Managing Tax Consultant

Des Plaines, IL

User Photo William Rogers, CFP, MBA, EA

Rancho Santa Fe, CA

Title

User Photo Clinton J Donnelly, LLM

International Tax Advisor

Panama City, Panama

User Photo Jim Marshall, EA

President/ Tax And Financial Advisor

Scottsdale, AZ

User Photo Brett A Thompson, JD, CPA

Managing Tax Lawyer

Katy, TX

User Photo Charles Woodson, EA

Tax Advisor/Fiduciary Coach

San Diego, CA

User Photo John Richardson

Tax Lawyer

Toronto, Canada

User Photo Clifford Benjamin

Senior Tax Principal

Daytona Beach, FL

User Photo Kazim Qasim, EA, CTC

Managing Tax Advisor/CEO

Orlando, FL

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today