Finding a CPA who can take proper care of your business finances
If you thought you require being wealthy or a business owner in order to benefit from the services of a CPA or a Certified Public Accountant, you’re wrong. If you have been preparing your taxes on your own for a long time, you might now find it extremely time-consuming or stressful. Or your tax situation might have changed or become more complicated due to which you now require getting specialized tips from an expert. Are you facing difficulties while filing your back taxes or while paying off your tax debt? Or are you wary about an IRS audit?
If these are the things you’re worried about, you may take resort to www.pstein.com which is one of the best places for getting the most trustworthy CPA in Israel. Besides seeking help of such resources, you can also stay aware of the ways in which you can find out the best CPA in the industry. Here are few steps to keep in mind.
#1: Ask for his tax identification number
Anyone who prepares or who helps in preparing federal tax returns in lieu of money is required to have a PTIN by the IRS. However, if the CPA or the tax preparer is volunteering for his services, he won’t require a PTIN. Hence, you should make sure your income tax preparer mentions his number on your tax return as the IRS is also going to check.
#2: He should have a law license or a designation of an enrolled agent
A PTIN is rather easy to achieve and hence you should take a further step and hire a tax preparer that has got a credential. The Accredited Business Accountant or the Accredited Tax Preparer is instances of programs which assist the preparers in fulfilling the Annual Filing Season requirement. The credentials need various amounts of study, ongoing education and exams.
#3: Compare the fees
What are the charges that the tax preparers ask from you? Well, if you consider the average fee for preparing a tax return which includes Form 1040 along with Schedule A, the amount charged was $294 in the year 2018, as per the National Society of Accountants. The average cost that is required to design a Form 1040 without any itemized deductions was $188.
#4: Check whether they have your back
CPAs, enrolled agents and attorneys along with PTINs can represent you in front of the IRS, protect you against audits, and take care of appeals and issues. Preparers who have got PTINs can’t do so even though they prepared your tax return.
Therefore, if you’re wondering about the ways in which you can find the best CPAs in the market, you can take into account the above mentioned steps.