5 Tips for Choosing a Good Tax Advisor

Tax advisors are a key part of any business activity. Normally, large companies have accounting departments that deal with their accounts. However, SMEs (small and mid-sized enterprises), freelancers, and entrepreneurs often outsource these functions. In those cases, finding a good advisor is one of the first steps you must carry out. The choice must be made carefully since the tax advisor will deal with fundamental matters such as the management of your taxes and tax returns, audits/ inspections, profitability analysis, and other procedures that the entrepreneur or self-employed person is not usually familiar with.

Connect with Agro Accounting CPA if you are looking for a trusted tax consultant for freelance workers! This article will examine the importance of having a good advisor and how to choose them correctly.

1. Look into the Training and Experience of the Advisor

Tax advisors are usually graduates of Economics, Finance, or Accounting degrees. It is important to look for professionals with a master’s degree in tax consulting or with passing of specific accounting courses. You should also assess the professional career of the advisor and whether the experience provides a better service to you than the next advisor’s.

2. Assess Your Needs

Do you need advice just for the sake of tax preparation and filing, or do you need it for an ongoing purpose, i.e. to handle all of your business accounting? Knowing your needs will drive the type of service that you want to hire.

3. Ask for an Introductory Call

You can learn much from online reviews, but nothing replaces one-on-one conversations. The latter becomes quite important when you want to work with a partner for the long term. People in the tax field are often busy, so don’t expect long conversations, but asking for 5 to 10 minutes of their time can help you know deeper details about their experience. Here are a few quick questions you can ask:

• Do they charge an hourly rate or flat fee?
• How do they keep client data secure?
• How many returns do they file in a year?
• Do they file returns electronically?
• Do they file returns all on their own, or is there staff to assist them?

4. Compare Fees

While it is not wise to choose a tax professional solely based on their price levels, comparing quotes from several providers is always best, especially when using tax preparation services for the first time. For example, some may charge you based on an hourly rate, while others may charge based on the number of forms and schedules to be filed.

5. Look for an Advisor Who Knows Your Industry

Every business has its unique challenges and needs that entail different tax procedures. That is why the person in charge of your finances must know the peculiarities of the economic sector in which he or she is going to work for you.

Wrap Up

Choosing the right advisor can potentially save you big bucks in the long run! So, take time to find the best advisor who understands your needs and visions.