How to Find the Right Tax Professional for Your Business
If you own a small business, it’s important to have a tax professional that you trust and can rely on to help you navigate the complex world of taxes. But with so many options out there, how do you choose the right one for your needs? Here are six key qualities to look for when searching for a tax pro:
- Industry experience: A tax professional with experience in your industry will be better equipped to handle the unique tax issues and challenges that you may face. Look for someone who has a proven track record of working with clients in your field, and ask about their specialization and the percentage of their clients who are in your industry. If you operate in multiple states, make sure the tax pro is familiar with the relevant jurisdictions.
- The right style: The best tax professionals are able to strike a balance between aggressive tax strategies and audit-deterrent caution. Ask potential candidates where they fall on the aggressive/conservative scale, and make sure their approach aligns with your style. Look for someone who is interested in your overall tax picture, not just cranking out tax returns from the information you provide.
- Excellent credentials: Check to see if the tax pro has any specialized degrees or certifications, and look for someone with a strong background in tax specifically, rather than just general accounting.
- Continuing education: The tax law is constantly evolving, so it’s important to find a tax pro who stays up to date on the latest changes and developments. Ask about their continuing education efforts and how they stay current with tax law changes. This is especially important this year, with potential tax reform on the horizon.
- Availability and initiative: You’ll want a tax pro who is available to provide services year-round, not just at tax return time. Look for someone who is proactive and can offer extra insights and tax strategies that are tailored to your unique situation.
- Cost: While cost is certainly a factor to consider, don’t automatically go with the tax pro who offers the lowest fees. A good tax pro will be able to justify their cost through the legal tax tricks they find for you, and should be able to address any errors they make. Remember the old adage, “You get what you pay for.”
In conclusion, finding the right tax professional for your business takes time and effort, but it’s worth it in the long run. Don’t settle for the first person you see online or hear about – take the time to do your research and find someone who meets all of your needs.
