There are certainly plenty of people who do their own taxes every year, but if you hope to get the best results out of your tax preparation and return, you are best off seeking the assistance of a skilled professional. The more complicated your tax return, the more likely it is that you will make a mistake or, at the very least, fail to find and take advantage of every opportunity you have for savings.
Here are just a few tips to help you choose a professional to assist with your tax preparation in Union City, NJ:
- Background research: Your first step should always be to check the history and qualifications of any tax prep specialist you’re thinking about working with. Are they licensed or certified for tax preparation? Are they affiliated with professional organizations that provide continuing education and standardize a certain code of ethics? Is there a history of any consumer complaints against the tax preparation agency? What kinds of testimonials or reviews are you able to find online? These are all questions you should carefully consider as you conduct your research into the agency’s background.
- Cost: Inquire with the tax preparation firm about how much it will cost for them to prepare and file your tax return. You should always avoid partnering with a firm that will take a percentage of your refund as the fee—flat fees are the industry standard. In addition, beware of preparers who promise you larger returns than you’d get from other preparers. This is a shady business practice and unlikely to be true.
- Communication: The best partners for tax preparation will describe to you all of the documents they will need to see, and will be available to answer any questions you have about your tax return. Any reputable preparer will request to see receipts and records, and will ask you questions (if they have them) to help them prepare your tax return. If the preparer does not ask you for any documents or ask any questions about them, this could be a red flag.
- Mistakes: Even professionals will occasionally make mistakes, rare as they may be. You can reasonably expect no mistakes to be made, but if there is a mistake, it is important to know whether the preparer will pay the interest and penalties that result from that error. You are technically responsible for all information that appears on your return, even if you had a professional handle the paperwork. With this in mind, it’s important to have a promise in writing from a tax preparation specialist that they will cover any fees if there is a mistake that results in penalties.
- Blank returns: Never, ever sign a blank return. In fact, you should make it a point to avoid working with any tax preparation firm that has a policy of having you sign blank forms. This indicates the firm is not trustworthy.
For more information about choosing a professional for your tax preparation in Union City, NJ, contact Kedean’s Generation today.
Categorised in: Tax Preparation