One of the most important choices your business can make is choosing an accountant. In order to find the right match, you must be prepared. If you are in search of a new accounting firm for tax season, asking these five tax questions will give you the answers you need to make a smart decision.
Important Tax Questions to Keep in Mind
1) What type of Tax Law do you Specialize in?
Not every tax accountant offers the same services. From auditing to compliance, every tax pro has a specialty. The first way to narrow your search is to find out whether your prospective accountant is knowledgeable in the areas that are most important to your business. There are often many special, industry-related tax considerations, which can help increase your tax deductions.
2) How will you make my Tax Season Easier?
The second of our tax questions essentially asks “what can you do for me?” Just like entering into any business relationship, your company needs to know what it will receive in return. You will benefit the most from an accounting firm that has a proven track record of saving clients time and money. But, if you want to receive the best help with tax preparation, it’s highly recommended to select an accountant long before April 15.
3) What Common Accounting Mistakes can I Avoid?
Businesses often make mistakes, like not following tax advice or being dishonest, when working with an accountant. It helps to know first what you have do to avoid income tax missteps that could hurt your company’s profit margins.
4) What are your Fees? How do you bill Clients?
Before you hire a tax accountant, you need to know if the price of their services is within your budget. You should also be aware of whether they bill on an hourly basis or charge a set monthly rate. By knowing information like this, you will know what to expect in your new business relationship.
5) How, When and Why should I Contact you?
The last of our tax questions may be the most basic, but it also may be the one that helps you the most. You will benefit the most from hiring an accountant with whom you can establish a clear line of communication. You should establish at the outset how you will contact each other, the frequency of your talks and the availability of your accountant.
As tax season gets underway, now is the right time to choose an accounting firm for your business. By knowing the right questions to ask, you will be prepared to make an informed decision.