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Are You Working with the Right Tax Accountant?

Bryant & Associates_Tax AccountantAre you thinking about hiring a new accountant for your taxes this year, but not sure if they’re right for your needs? Well, there is no such thing as a perfect tax preparer, but there is one who’s just right for your needs.

The tax experts at Bryant & Associates, PC have gathered the questions you should ask before hiring someone to do your taxes. Read below to find out what you should be getting answers to.

What is your tax background?

If the person has a bunch of letters after their name, ask what it means and how that can help you with your taxes. Here are a few acronyms whose meanings you’ll want to know.

  • CFA (Certified Financial Planner) – they must pass a test to have the knowledge for taxes and tax planning
  • CPA (Certified Public Accountant) – a CPA can do taxes, but it is not their only specialty
  • EA (Enrolled Agent) – represents taxpayers before the IRS
  • JD- is a law degree
  • LLM (Masters in Law) – some lawyers are educated in tax preparations and others are not.
  • VITA – volunteer trained by IRS to do basic tax returns
  • Others may not have letters behind their name but they can still do the job well.

Do you have a PTIN (preparer tax identification number)?

This is a very important question. They must have this before filing tax returns of any sort. Without this identification number they are not allowed to do your taxes, so find that out as soon as possible. At Bryant & Associates all of us have a PTIN and Kim Bryant is a certified CPA trained to do your taxes correctly.

Do you know the requirements for the states I need to file in?

Federal taxes are easy as they do not change from state to state. However, if you have moved states in the middle of the year, you will have to file for two different states and your tax accountant will have to know how to handle that. At Bryant & Associates we can handle anything you throw our way, even filing for two different states for either your small business or yourself.

Can I file electronically?

If your tax accountant files more than ten returns a year, it is required to file electronically as it is faster and fewer errors occur. However, you can choose to opt out.

What if I get audited?

Find out how the tax preparer will handle audits, even if you think there isn’t a possibility of you being audited. It is important to know just in case. Will they represent you in front of the IRS? Not all tax preparers do.

Who signs my tax return?

Your tax preparer’s signature needs to be on your tax return. Do not trust anyone that does not want to sign your tax return.

What do you need from me to file my taxes?

Tax preparers will need you to bring in forms like a W-2, 1099, 1098 and anything else that verifies the amount of money you have made within the last year. Just bringing in pay stubs will not suffice. If there are special circumstances, they should be able to explain and tell you what you will need. At Bryant & Associates we can explain any question you have, no problem.

How do you regulate your fees?

This is also an important question to ask, not everyone’s fees are the same and there is a reason for that. Do not trust a tax preparer that stands to make a percentage of your tax return. They may make wrong deductions on purpose to get more money for you and them. This can come back and haunt you later.

Contact Bryant & Associates Today at (402) 423-0404 in Lincoln

Bryant & Associates is a full service tax preparation service in Lincoln, NE. We hope our list of questions and answers will better prepare you when looking for someone to do your taxes this year or the years to come. If you have any additional questions about your taxes or would like us to get started on yours, contact us at (402) 423-0404. Let’s get started today!

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About Kim Bryant

Kim Bryant, CPA at Bryant & Associates, PC has more than 25 years experience in Nebraska and Iowa small business taxes, accounting and financial issues. Kim has spent her career working in all aspects of accounting and business management, from working in two local CPA firms and owning Bryant & Associates, PC since 2001. Kim’s staff of accounting specialists specialize in helping small businesses grow and plan for new opportunities. For more information, call 402.423.0404 or visit the website at www.bryant-associates.com.

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