Top 7 questions to ask a Tax Pro before hiring them
If your tax return is becoming more complex or you have started a business, or you do not have the time to do your own taxes, it is probably time to start looking for a tax pro.
Here is a list of 7 questions from Kipling to ask you prospective tax pro, before you hire them:
1. How Long have you been in practise?
Kiplinger suggests this is good because they can anticipate problems with your return and with be able to deal with IRS changes, because the will have experienced them in the past. He suggests several years is a good guide.
2. What are your credentials?
Kiplinger jokes here that anyone can hang out a sign and claiming to be a tax preparer, because their are no licensing requirements. So, he suggests you need to look for an enrolled agent, accredited tax adviser (ATA), certified public accountant (CPA or CPA/PFS). Only CPA can hold the personal financial specialist designation/specialty. (It is also good to check if they are a member in good standing of an appropriate professional association)
3. Do you have any specialties?
If you have a particular need, say rental income tax advice, you need to ask if they have experience in this area.
4. How much will you charge?
Kiplinger says while the adviser will not usually be able to give you an exact quote they should be able to give you an estimate. Things to look out for include: if they charge an hourly rate (get an estimated time), or a flat fee, whether the fee covers everything or if they add on for extra meetings during the year or calls about your tax.
5. Do you have room for a new client?
This is more about whether they are going to file your return quickly or not. And whether you will ever get an appointment during the year if you need one.
6. Will you handle my return or will you hand it off to some less experiences associate?
If the person you are dealing with is a senior person and is likely to delegate some of the grunt work, this is not automatically a problem, but you want to be asking them if they are going to be reviewing the associates work.
7. Will you represent me before the IRS?
If you get audited you need someone who knows the business to be able to stand up and speak on your behalf.
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