Expert Guidance: What to Look for in Reliable Tax Preparation Services
No one likes dealing with taxes, but it’s simply unavoidable.
Things can be very complicated and making any mistakes could lead to some serious problems.
If you want to make things easier for yourself, you could hire tax preparation services.
They can help you in a range of ways so that things go smoothly.
You’ll be able to get everything right and ideally avoid an IRS audit.
But the question is, who should you contact?
In this guide, we’ll go over some key considerations that will help you find the best tax preparation services for you.
Keep reading for more.
Understand Your Needs
Before you start looking for a tax preparation service, you need to establish exactly what you need from them.
Your tax return could be quite basic, or it may be highly complicated.
For people with simple tax returns, chain tax preparation companies may be suitable.
These services can be effective, but they don’t work in the same kind of way as others that form more of a relationship.
A CPA (Certified Public Accountant) is better suited to those who have more complex tax returns.
They provide personalized services based on your needs.
However, it’s important to bear in mind that this level of service can cost a considerable amount more.
Also, just because someone is a CPA, that doesn’t mean they’ll always produce the best results.
In fields like law and medicine, professionals have specific areas of expertise, and the same is true here.
Your best approach is to look for a tax preparation service that suits the line of work you’re in.
Check With Your Network for Referrals
When looking for any products or services, the best place to begin your search can be with people you know.
Your family, friends, and colleagues may be able to make recommendations based on their past experiences.
When doing this, bear in mind that not everyone has the same needs.
You’re likely to get the best recommendations from people who have similar tax requirements to you.
This can also help you avoid some less reliable tax preparation services.
If anyone you know has had a bad experience in the past, they’ll be able to steer you clear of the company that let them down.
It’s also a good idea to look at testimonials and online reviews.
This will give you an indication of what to expect from a tax preparation service based on the experiences others have had with them.
Confirm Credentials
Getting things right will help you avoid any tax issues, so you want to make sure you’re with a service provider you can trust.
At a minimum, anyone you pay to help you prepare your taxes should have a PTIN (preparer tax identification number).
These are fairly easy to get, however, so it doesn’t automatically mean someone will be fit for the job.
If you have a simple tax return, the credentials may not be the most important factor.
Even without too much formal training, a tax preparer could still give you in-depth guidance.
If your tax return is more complex, you may want to look for a CPA, enrolled agent, or tax attorney.
You can check someone’s credentials through the IRS website if you want to be certain.
Compare Fees
You’ll have certain requirements and standards, but you should also have a budget in mind.
You won’t want to go over this budget, so before settling on a company you should get an idea of how much each one will likely charge you.
Most companies will offer a free price quote, so it’s a good idea to get several of these.
You can then compare them to see what the best options would be.
Bear in mind that you don’t want to choose based on price alone.
Consider the quote from each in relation to the services they offer, their credentials, references, and anything else that indicates the quality of the service you’ll get.
Ask for an Interview
When you’ve found a company you’re interested in, you’ll want to speak to them directly.
To do so, you should set up an interview with them.
Reviews and references can tell you a lot about a tax preparation service, but you’ll get a better feel for them once you speak to them directly.
This is especially vital if you intend to build a long-term partnership with them.
Tax time is typically quite busy, so you should only really expect a five to ten minute conversation.
During this time you want to ask about important information that may not be on their website such as:
- Their security measures
- Their fee structure
- How many returns they complete each year
- The size of their team
- How they communicate with clients
- How frequently they communicate with clients
Look for Red Flags
Unfortunately, there are some out there who claim to offer tax preparation services but aren’t legitimate.
There are certain red flags that you should look out for.
Be wary of anyone who promises amazing returns.
A reliable tax preparation company will never make grandiose promises like this.
If it sounds too good to be true, it probably is.
A preparer is legally required to sign the form for any tax returns they complete.
If they refuse to sign a return, you need to be cautious.
Don’t sign a return until your preparer has.
Some independent tax preparers work out of their homes, but if they’re working from a temporary location, be cautious.
You may need to find them again if you get audited, so you want to be certain you can find them.
The Right Tax Preparation Services for You
When looking for tax preparation services, make sure you do your research and compare your options.
If you know what your needs are, you shouldn’t have too much trouble.
Master Accounting provides professional tax preparation services, as well as other services you may need such as payroll, bookkeeping, and fractional controller services.
Take a look at our tax preparation page so you can see if we’re the right fit for you.
Searching for tax services in Tempe, AZ? Conduct thorough research and compare options. At Master Accounting and Tax Service, we specialize in providing top-tier accounting, tax, bookkeeping, and fractional CFO / controller services at an affordable cost and with the utmost integrity. Call (480) 456-4999 or Contact us today!
