Unless you are an accounting expert, your company’s accounts are almost certainly prepared by an internal or external accounting department. Hiring a full-time, dedicated tax accountant is more expensive and, in some cases, unnecessary for a small business. However, selecting the right accountant for your business is critical, whether you use a tax accountant in your business or outsource to a freelance tax professional. For example, someone else may prepare your annual tax return, but you are ultimately responsible for any errors.
Find someone with a keen eye for detail and previous experience working in a similar-sized business to yours. Tax preparers can be anyone, but a true professional is required. Accountants come in various shapes and sizes, so find the one that is right for you.
If you need an accountant to prepare tax returns, find out if they do this regularly when interviewing or looking for one. There are walk-in tax preparation services that charge low fees. It is best to avoid these companies and instead hire a tax accountant because they use seasonal employees with limited training to complete as many tax returns as quickly as possible. As a result, errors are very likely and common.
A good tax accountant will be more expensive, but they will focus more on your tax return. Using a low-cost tax preparation service will not save you money in the long run. After you’ve decided on the type of tax accountant you need, you’ll need to find them. Request recommendations from a friend who has used an accountant. If they did well for your friend, they would most likely do well for you. A tax accountant can be located online via LinkedIn, directories, or a website connecting businesses with qualified cheap tax returns and accountants.
You should not hire a tax accountant on the spur of the moment but rather spend time interviewing them to determine their qualifications and experience. If they are not freelancers, look up their name online or the company’s name for which they work. Anyone who has a complaint should be dismissed. Inquire about their qualifications and memberships in professional accounting organizations. Check references, particularly from similar companies, to see if the individual is dependable and has created error-free results. Ask about their prices and also how they are added, like on an hourly or even per tax return basis.
Tax accountants may also charge additional fees for services such as phone calls, so be sure to inquire about this upfront to avoid unpleasant surprises later. To ensure good service, be picky when selecting a tax accountant. Ask around for the best price, but don’t go with the cheapest option. For example, a tax accountant is not the best person to do your yearly GST filing. It should be simple to locate a freelance accountant, either in person or online.