Tax services are a specialized service and is required by individuals as well as corporates. When a tax preparer is hired, it is with the intention of having a smooth and worry-free tax filing. Tax filings are based on multiple rules and regulations and no two tax returns are same. Hence, it is a specialized service. If not done in the right manner, the penalties and interest that need to be paid are high and raise red flags for companies and individuals. Therefore, its very important to hire a tax preparer who is experienced and understands your filings requirements appropriately.
It’s best to hire a tax preparer because they are abreast with all the filing requirements. Individual’s needs and company’s needs are different, also their tax return requirement is different based on where they live, where the operations are located and how large the operations are and many more factors. A tax preparer will know the requirements and do the needful.
Although every aspect of business is available virtually or via cloud services; it’s important to hire a preparer who understands your local and global requirements very clearly. Our search for tax preparer will always start with google. It’s important to check if they have the required qualifications to take up the job. Right credentials are the primary requirement for the filing. A certified accountant with a CPA (Certified Public Accountant) and a valid PTIN (Preparer Tax Identification Number) is a must. This will ensure that they are licenced to handle varied requirements.
Secondly, it will be great to get customer review or reference from friends and family. Even though we are dependent on search engines for our needs, getting an honest feedback of a customer experience is always better. A customer feedback helps you connect better to not only the service they provide but also the teams with which you will work. When you have shortlisted a tax preparer, they will usually give one complimentary consult to understand your requirements and to share the process they follow.
The first consult helps you decide if you want to hire the preparer or not. Most of the tax preparers have cost based on the tasks. It’s important to get a clear understating of what’s covered under which task and how the pricing is determined based on what you need. The fees a tax preparer charges differs. Some do it based on hours it takes to prepare a return, and some based on how many forms are required to prepare your tax filing. However, one point to remember is, you should not hire a tax preparer who guarantees a certain amount of refund on your tax return or basis fees on the refund that you will claim. This is a serious red flag.
Last but not the least, never share your financial documents, Social Security Number, or bank details before the first meeting. Sharing the documents is when you have decided to hire them. However, just deciding on a tax preparer is not enough. It’s important to be always vigilant and look for red flags during the process as well. Never sign on a blank contract or blank tax return. It’s not common to do so. Check if they do paper filing or E-filing. Usually, all returns are E-filed.
If one follows all the above steps properly and with special emphasis on each one, then they are sure to get the most authentic services of bay area accounting firms for themselves and will not have to look back or stress out on any mistake in the tax filing at all.
The small, as well as large-scale businesses, benefit to an amazing extent with the help of the advisory services of bay area start-ups. These services set-up a strong foundation for the people and corporates alike; and plan all their tax filings properly according to their amounts and dates. Also, all this is done by them within stipulated time of the tax filing deadlines.
Therefore, you will be able to pay your tax from time to time and without any stress or trouble if you hire the services of accounting for start-ups. This will be your best decision ever and you will never look back and second guess yourself for tax filing.