Finding the Right Tax Professional – Top Factors to Consider

tax professional for accounting services

Whether you are an employed individual or a business owner, a tax professional can uncover the benefits and advantages of tax planning throughout the year, not just in the weeks leading up to the April 15 filing deadline.  However, different professionals often offer different types of accounting services.  Therefore, enlisting a tax professional that is best suited to your distinctive needs requires some insight. 

There are different tax planning strategies for individuals and businesses at play, which include initiatives you can take throughout the year to minimize your taxes on an annual basis. So, before choosing a tax professional to help guide the way, be sure to consider the following factors to ensure that your tax professional partner is a lifelong asset. 

Tax Professionals with Solid qualifications 

In recent years, the IRS has boosted its number of employees and funds to field a wave of tax return issues, including a rise in the number of unscrupulous or “shady” tax preparers. While the IRS is making efforts on its end, individuals and businesses need to watch out for unscrupulous tax return preparers as well, and this starts by requesting and verifying credentials. Make sure that your preparer has a Preparer Tax Identification Number (PTIN), which is required by the government. It would help if you also asked about licenses, education, and any organizations that your preparer and/or firm are part of, as well as their history in the accounting profession. 

Areas of Expertise 

One of the first questions you should ask as a tax professional is, “What are some accounting services you offer?” If the answer is simple and straightforward – like simple tax preparation on an annual basis – then this might be a good fit if your taxes are simple, with very limited opportunities for credits or deductions.  

Ideally, however, your tax professional should be able to offer a suite of services that extend past the confines of tax season and include guidance on different steps that you can take all year to minimize the taxes you will owe. 

Knowledge of Current Tax Laws and Upcoming Changes 

Tax laws are constantly evolving. You want to ensure that your tax professional is aware of all of these present and future changes and can provide guidance into how new laws or regulations may affect your tax return. 

Access to Technology and Tools 

A tax professional should have access to the best tools and technology that go miles beyond simple tax preparation software. Ask about the resources they have on hand that can be used for your benefit. 

Availability and Customer Service 

One of the top factors to consider when it comes to tax professionals is customer service. It’s natural to have questions during the height of tax season and throughout the year as to which expenses, purchases, investments, etc., will make the most sense when it comes to your taxes. Your tax professional should always be available to answer queries and provide more information on big moves and strategies, as well as how they may affect your taxes and bottom line. 

Comprehensive Knowledge of Different Tax strategies for Individuals and Businesses 

A tax professional who can provide expert guidance to an individual may not be as strong when it comes to preparation and insight for small business owners. Be sure to ask your tax professional if they routinely work with clients like you, especially if you have a tax situation that is inherently more complex. Examples include if you have a wide range of investments, if you own a business or company if you have side gigs or freelance income, and other situations that may be more challenging when it comes to identifying deductions and credits that work in your favor. 

Start Your Research with a Consultation with Saddock Advisory 

You don’t have to sift through countless online searches to start with the best tax and accounting services. Simply reach out to our experienced team at Saddock Advisory to start the conversation. We’re happy to answer your questions, explain our different accounting services, and identify ways that we can help you with the current tax season, as well as for many months, years, and even decades to come, to ensure that you have financial peace of mind for the long term.   

Contact us today.  

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