Picking A CPA With Too Much. . .

Posted by Bruce Mc on Oct 6, 2008 in Choosing a preparer, Preparer, Tax Preparation | 2 comments

Picking A CPA With Too Much “Accounting” Experience That Doesn’t Relate To You!

This is another addition to the series “Mistakes made when choosing a paid tax preparer”.

Most people don’t realize this, but many CPA’s usually spend most of their time doing accounting and auditing work – NOT taxes! (CPA = Certified Public Accountant) They get paid to sign off on accounting, payroll and complicated bookkeeping for larger businesses. So when it comes to preparing taxes for the regular middle income family, it’s just not something they’ve been spending their time thinking about or doing much of, or most of the year.

CPA’s have a ton of experience in many very complicated accounting practices, doing very complex audit work and usually doing a really great job helping some large business or very high net worth rich guy with his investments and taxes. But, for most tax returns that are filed each year, nah.

Look here, does this sound like your tax return? I thought so.

You are not alone. The majority of regular middle income folks will never need the experience coming from a CPA’s background because the accounting and auditing work does not relate to their normal family income status. Am I saying all CPA’s are wrong for you to choose to file your taxes? Absolutely not. There are some Certified Public Accountants who take the time to keep up with the latest tax laws. They’re specialist.

In most cases however, you are better off finding a tax preparer who is good at doing what you need done. And in this case, if the tax preparer preparers a lot of middle income tax returns already, that’s even better.

Think of it this way: Would you use a sledge hammer to hang a picture frame? (I didn’t think so.) Remember: Go with a tax professional with TAX preparing experience, not auditing or accounting or something else that doesn’t relate to you!

In my post Who Is. . . I list the different professions that prepare taxes. A Tax Attorney, A Bookkeeper, Accountants, Public accountants, Management accountants, an Enrolled Agent, a Tax Preparer. All are qualified to handle your return preparation. I ask that you chose someone who fits you. Look around

Please catch my guest post over at The Wondering Tax Pro. Where I give my tax advice. BEST OF THE BEST – BRUCE MCFARLAND is the start of a series of Guest Post for TWTP so he can spend his week locked in at work. Yes tax preparers work all year, not just January thru April. 

Several of us are giving out our best advice in the tax world. Try not to miss the series. (it last all week)

             Tax Carnival #41: TaxtoberFest 2008 is up don’t miss my entry there. There is a lot of great entries for this carnival, make sure to read them all.

Again, I want to invite you all to write guest post on this subject. I want to hear from all bloggers or just readers with their own input. Let’s see what you see I have missed. If you have some words of wisdom on this subject please let us share it with everyone, if it is something that has already been covered, so what, I am looking for others to tell what they know or have learned about finding a paid preparer.  I have room for two more guest spots.