HOW TO SELECT A TAX PROFESSIONAL
When it comes to selecting a tax preparer, you should seek a licensed tax professional that understands your particular needs, and specializes in helping taxpayers similar to yourself.
The first question to ask when choosing a tax preparation
professional is whether or not to go with somebody that is licensed or not. The IRS will not be licensing tax preparers until 2014, and the vast majority of tax preparers nationwide are not licensed in any way. The more complicated your tax situation, the more important it is to use a licensed tax preparer.
Currently, the only licensed tax preparers are CPAs and Enrolled Agents. Enrolled Agents are licensed directly by the IRS, and are the foremost experts in regards to federal taxation, as it is all that they do.
The next question to ask when choosing whom to prepare your 2012 tax return is what kind of clientele that tax preparer has. Most tax preparers focus on a particular subset of the population. Many tax preparers prefer to work with low income taxpayers, particularly those eligible for the Earned Income Credit. These particular taxpayers receive massive refunds, and often want their refund money immediately in the form of a short-term loan. These loans have high fees, which the tax preparer makes a commission on.
Other tax preparers, such as myself, prefer to work with a lower volume of taxpayers, but work on more complex tax returns. By focusing on specific types of tax returns, particularly those that contain investments, rental real estate and small businesses, I am able to offer expert insight into those tax matters that other tax preparers can’t. This tax saving expertise can only come from specialization, and benefits you directly.
Whomever prepares your tax return, make sure that they are able to meet your particular needs. You should be just as picky about choosing your tax preparer as you are about choosing your financial planner, insurance agent, and physician. This decision can have a drastic impact on your tax bill, and therefore should not be made lightly.
To see if we are a good fit for your tax needs, please contact my office at 856.988.7055 or 888.Tax.1Solvers (888.829.1765) to schedule a consultation today.