Choosing a tax preparer. . .
Or
Not Choosing An Expert In The Type Of Tax Service YOU Want!
(titles can be hard to chose)
Most people know what they want when they are looking for someone to help them. However, in the case of filing a tax return, most folks just assume all accountants, CPA’s or tax preparers are about the same. But just like most other professional services, nothing could be further from the truth. Each tax professional has certain qualifications and expertise in certain areas. Again, people who help taxpayers file taxes for a living have their own strengths and weaknesses. But here is the rub: Too many people don’t match up what they want with the strengths of a paid tax professional. If you fall into this category, listen closely.
- First, let’s be clear. What do you want from a tax preparer?
From my experience, here are the most common “wants” of regular middle income taxpayers:
1. You want an accurately filed tax return.
2. You want the tax filing process broken down into layman’s terms.
3. You don’t want to hear about someone else’s tax filing scenario. No, you are just interested in your own tax situation — explained so you can understand,
v and once you’ve “got it”,
4. You want the tax preparer to give you a heads up about some possibilities in the future to save even more money or qualify for other deductions that would legally add more money to your pocket at tax time.
5. You want assurances everything your tax preparer is doing for you is valid and correct, so a guarantee(s) is essential to the process. And of course,
6. You want to “close the book” on this year’s tax filing in a reasonable amount of time.
-No dragging this process out for many days or weeks. You want to know what’s going on with your taxes in a day or two, gather more info (if needed) which might reduce your tax burden and/or increase the amount of refund money Uncle Sam owes you – and then file your taxes so you can be done with it!
Oh, and if you ARE getting a refund, you want a tax firm who can get you the most money back the fastest, with the most electronic filing options available. (in my opinion Rapid refunds are false and more trouble that they are worth-stay away from those)
Bottom line:
You want accuracy, you want clarity, you want to be aware of beneficial tax options, you want peace of mind, you want an efficient use of your time, you want your refund money back in your hands fast, and at the end of the day, you want to KNOW you got the most money back from Uncle Sam AND you know the IRS will stay off your back so you can sleep like a baby at night!
If the tax professional you are talking to (or the tax practitioner you currently use) can’t do what you want honestly, don’t give him/her your business. Go to someone who will be on your side, looking out for your interests and not treating you like a number.
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As a preparer, I feel my best advertising is asking my clients to recommend me to their friends and associates at their work etc.
As a taxpayer. I would do the same exact thing in reverse. We all know people whose opinions and attitudes we agree with or even admire. I would ask those; who prepare their returns. If I thought I had a simple return and it was a waste of my money to pay someone to do what I thought I was capable of, I would waste my money and pay them and see what the result was after I had prepared by hand myself or prepared on the computer and see the result. Then if I was correct, I would probably prepare on my own for the following 1-2 years (unless something changed) and then repeat the process knowing if I had errored the returns could be amended.
I have clients that I see aproximately every three years and they tell, me they basically copy my work just changing the figures to the current ones.
As a successful preparer, the guideline is simple and appears to be trite crap: I do my best to give the client what I would want if I was the client but I knew what I know.
If I was someone seeking a preparer and had no other basis to go by there would be two questions:
a: When would you (the preparer) not recommend filing a schedule A although it provides a larger refund than a standard deduction.
b: When would you (the preparer) not recommend filing a standard deduction instead of the itemized deductions although the itemized deductions are less than the standard deduction.
If a preparer can not intelligently answer those two questions, they have no business in the business.
But then the average person would have no clue to ask those two questions, now would they?
Jeff Day EA
Evansville, IN
ps: As I have said before, I wish I had the talent to do a blog where once a week or so a tax scenario that is in real life could be discussed example:
Married couple, lived all year together. They have three children all under the age of 17. One parent makes aproximately $30k the other makes aproximately $25k.
They filed mfj in 2007 claiming standard deduction. They received $2100 stimulus payment. Should they file 2008 tax return mfj? They anticipate income about the same as 2007. Wow, now tell me no small percentage of folks not gonna blow that this next year filing their own simple return. Tell me no small percentage of folks not gonna blow that using preparers that have no business in the business.