One of the most crucial steps a company can take to safeguard its wealth is to hire a good tax consultant. While most would only meet with their consultants once or twice annually, others engage in continuing strategy meetings the whole year round. These are advisors who are sincere in their desire to help shape a bright financial future for their clients.
If you’re looking for a tax consultant to partner with for your business, keep the following in mind as you review the candidates:
First of all, find out the consultant’s background in the field. You want them to be experienced – and have the right acronyms too. A certified public accountant or CPA is certified to serve as a public accountant.
An enrolled agent, or EA – the highest credential a tax professional can have – is a practitioner who is federally authorized to represent taxpayers during IRS audits, collections, and appeals. There are no other tax practitioners who can do this aside from EA’s, CPA’s and attorneys.
Tax consultants can charge in many ways, such as by the hour, according to the complexity of the case, etc. You won’t know how much you’ll end up paying until the bill comes in, but it’s good to establish the context of the cost so you can avoid surprises.
Certainly, availability is a critical issue, not just in terms of day to day business but the whole year round. You’ll want to know their usual response time, especially during tax season. They should be available for your questions and other concerns, and you shouldn’t have to wait too long for them to return your communications. This is all the more important when you are questioned by the IRS outside of tax season. Your consultant should be available by all means.
Moreover, take note that taxes are a mere portion of your overall financial circumstances. Hence, find a consultant who is going to work with you the entire year.
People are not the same, and that includes their individual tax situations. It is thus important to choose a consultant who is an expert in your particular industry. The needs of an SEO agency are surely different from those of a beauty product manufacturer. The concept is pretty easy to grasp.
Finally, we are all aware of the fact that communication with tax consultants (and other professionals) is now phenomenally easier compared to decades past. There is no excuse for your consultant to fail in this department.
Finally, we are all aware of the fact that communication with tax consultants (and other professionals) is now phenomenally easier compared to decades past. There is no excuse for your consultant not to meet your expectations concerning this issue.