Choosing a Tax Preparer: What To Look for and Look Out For – Part two of two

 Last month, we covered some of the factors you should consider in choosing a tax preparer. Here in part two, we discuss additional issues.
How Tax Preparers Determine Their Fees
Certainly, you want your tax professional to ensure you receive every deduction you are entitled to. To ensure this, complex returns may require the filing of additional schedules, such as Schedule B for dividends and interest, or Schedule D for rental income and losses. These require additional time for the tax preparer and may increases fees. Thus, to attain accurate estimates from tax preparers you are considering, you should discuss the complexity of your return before making a commitment.
There are some preparers who may boast about their track record for enabling their clients to receive higher tax refunds. Chances are they base their fees on their clients’ expected reimbursements. You should avoid these preparers because they have an incentive to include deductions and credits their clients may not be entitled to. This can lead to IRS audits and substantial penalties.
Tax Planning
Tax planning may save you thousands of dollars in future taxes. Therefore, you should want to work with a tax preparer who will help you plan.
A tax preparer who wants to save you money on future taxes should ask to receive all your documentation well in advance. This can save valuable time during your tax preparation meeting. As a result, your tax pro can discuss strategies that could save you money on future taxes.
Your tax preparer should not only provide you tax planning advice during your tax meeting, but invite you to receive guidance throughout the year. Nationwide tax services that are only available during tax season may not be able to offer you this valuable service. Other tax professionals could conceivably charge a hefty fee to discuss tax planning. We believe tax preparers who want to maintain long-time relationships should offer clients unlimited tax planning advice throughout the year as a complimentary service.
Should you have questions concerning tax preparation, we welcome you to contact us.  Professional Tax Services is a locally-owned provider serving over 3,500 local residents and businesses.
For more information call 661-259-1967 or visit www.scvprotaxservices.com. Through their complimentary EZ2 Thrive program, they provide unlimited free tax planning advice to their clients.