If you have your taxes prepared professionally, it should cost you about $200 or more. Even though a substantial amount, why is this important money to spend?
Most people miss at least $100 in deductions, which means that they pay too much money in for taxes and get too little back. This means that if you don't hire an accountant, it's going to cost you a lot.
Now that you know you should hire an accountant, here are six suggestions that can help you pick the right one:
1. Pick someone you can visibly see, shake their hand and converse with one on one. Why not the big chain where anyone and everyone might handle your case? An accountant is someone you need year round. Big chains have people in from January through April. Calling their 800 number in the "off season" is going to take more time, stress and energy than it is worth to answer simple questions.
2. Cost. Need more be said? Big chains offer what appear to be minimal fees until you read the fine print and find out that each deduction might have a separate fee. Even guaranteeing the accuracy of their work could cost you money. In the long run, an accountant can provide you with better service for the money. And yes, their work is guaranteed without an additional fee.
3. Your accountant's credentials are important. Only a CPA, tax lawyer or EA can represent you in court. Just two states, California and Oregon, require licensing for tax professionals. Anyone can call him or herself a tax professional, but only those with proper certification can represent you in court.
4. Ask for referrals and references. If friends or relatives have been happy with the accountant they are using, chances are you will be, too. Similar to picking out your dentist, or physician, word-of-mouth is often a very good way to go.
5. Expect good service. If calls are not returned or the accountant otherwise acts in an unprofessional manner, find someone else. Taxes are stressful enough without having to put up with unprofessional behavior from your accountant.
6. Your expectations should be reasonable. Remember that your accountant can only work with what he or she is given. Therefore, if you are not responsible or have bad records, it's likely that the results aren't going to be perfect. However, your accountant can do the best job possible, and he or she may also be able to help you become better at keeping tax records yourself. Take advice from them as long as you trust them, and maybe taxes won't be so stressful next time.
About the Author: Delano Vestal is a writer for Baskfield and Associates, a CPA in Rogers MN. Baskfield and Associates excells in personal and small business accounting and tax preperation. As a Rogers CPA, Baskfield serves the entire Twin Cities Metro and the I-94 Corridor To Saint Cloud.
