It is crucial for any business owner to hire the right tax accountant to manage their finances. There are quite a number of accountants specialize in taxes but not all tax accountants are certified professional accountants. It is advisable to only hire a CPA to manage your taxes.
If your firm is being audited it is important that you hire an accountant who specializes in the audit. It is always better if you hire someone after getting referrals. If you know other business owners who may have hired a tax accountant you might want to get as much information from them as possible. Everyone in the business sector has access so there are quite a few names are there who might be able to help you too.
Interviewing tax accountants
When it comes to committing a business to a tax accountant, it is important that you have a talk with a professional accountant and discuss your situation. When you visit a tax accountant you need to ask them the right kind of questions. You can start by asking them the following questions
- Get to know whether they have the license on the designation to conduct the business
- Their experience in the tax business is an important factor which would help to determine whether you should be hiring them or not.
- Ask them about the tax issues they specialize in
- Get to know who would be working along with you. There are certain tax accountants outsource their work or their work is handled by the staff.
- This is also good time to get to know about the fees and whether they are negotiable. Knowing about the fee structure would help you determine whether you would be able to offer for get the services.
Once you are done with the interview it is time for a background check. You have to search about personal and social media or any other website which might have some information regarding their services. You can even check with the board of accountancy to get to know the status and to know whether any disciplinary action has been taken against them.
Beware of the red flags
You should be wary of accountants who promise you a refined before ever analyzing your financial situation. Also be on the lookout for accountants who may allow you to deduct a few expenses before actually having a look at them. If you ever find your accountant doing any of these things you can easily shop around or change accountants. After all it is a matter of your satisfaction.
Certified public accountants
The CPAs are your best bet when it comes to filing taxes. These are the individuals who have undergone several examinations and have been licensed by the board of accountancy. They have got degrees from universities and are involved in continuous licensing requirements.
Most of them specialize in tax accounting however not all CPAs handle tax issues. For more information on tax accountants make sure you contact accountants in Rockhampton.