The right tax preparer can ease the complexity of handling tax issues and save you thousands of dollars in taxes. But on the contrary, choosing an erroneous one could be an unnecessary reduction in your tax refund. If an individual has a simple 1040-ez they may not need a CPA to prepare their tax return. But, if an individual is self-employed or owns rental property, their tax return becomes complex and may require extensive tax knowledge a CPA can provide. Here are a few considerations for selecting a suitable tax preparer:

  • Tax Preparer Knowledge: 

    There can be times like “Short Form” (1040A or 1040EZ) where you do not want to handle it yourself nor would you prefer a tax preparer/CPA that will charge you more than tax software. Yet you should not overlook the fact that a tax preparer of CPA could save you money. Eventually every taxpayer requires an advisor who is well versed with tax knowledge and can skillfully handle relevant tax situation.

  • Tax Prepare Credentials:

    Relevant qualification and experience is a crucial for anyone to proficiently prepare individual income tax Find out if your tax preparer is an Enrolled Agent (EA) or Certified Public Accountant (CPA). If they are, you can be rest assured their knowledge has been tested

  • Accuracy:

    The accuracy of your tax return is vital. Make sure your CPA or EA is diligent by reviewing your tax return for obvious errors such as misspellings or inaccurate social security numbers.

  • Tax Preparer Availability:

    this aspect is extremely important. A highly regarded tax preparer will be enthusiastically available all year round to offer assistance in every form in regard to any tax problems or issues.

  • Stability:

    Stability criteria should not be ignored; any issue might occur at any odd time that you would demand tax assistance. May be two months or may five years from now. Whenever you need assistance, make sure you have an available tax preparer all year round to help. The greatest stability is accomplished by means of a well-recognized reputable CPA firm. Therefore, a CPA firm that has good qualified, certified public accountants or enrolled agents is a good bet.

  • Price:

    Tax preparation fees can vary considerably among different tax preparers and CPA firms. A law by IRS forbids the tax preparers to charge fees based on the total of tax refund acquired by the client. Some of tax preparers charge on hourly basis, others work and charge a flat fee. Well qualified expertise and experience will naturally charge more. The fees or the price of a tax practitioner must be based on the complexity of the tax return, concluded by the necessary schedules and statements. This is the fairest basis for the price to be paid to tax preparers.

  • To speak with a CPA you can trust visit www.abbotax.com.