Tax season is off and running! For some, filing taxes is as simple as hunkering down in front of the computer with do-it yourself tax software. For most others, the process can quickly become complicated: Did you buy or sell a home? Did your mother-in-law move in? Did you begin taking RMDs? Do you have multiple residences? Earn income on rental properties? Consider yourself self-employed? These are just a few examples of circumstances that can make the filing process a headache.
For those of you who need help, now is the time to consider hiring a professional tax preparer. Enlisting in the right help can make all the difference in the accuracy of your return, the size of your refund (if eligible) and aiding your tax filing woes. Here’s how to go about finding a credible tax preparer.
Act Fast
The window for filing your 2023 tax return began January 23rd and will last until April 18th. Perhaps you have a lifestyle that matches the complexity of your tax return, making it all the more tempting to procrastinate starting the process. If you wait too long, however, you may find that the most in-demand and likely the most high-quality tax preparers will be booked to the brim! We recommend calling in January to make your tax preparation appointment for February or March, even if you don’t have all of your documents.
Signs of Quality
One of the best ways to find a quality tax preparation service is to ask your friends, neighbors and relatives if they are happy and who they are using.
If you’ve just moved to a new area, or your favorite preparer retired, a google search showing tax services in the area with excellent reviews is also an option. Firms that offer tax planning are a plus for those looking for tax saving strategies in addition to tax preparation. If you hear about someone who may help you, it’s a good idea to search their name in the IRS Directory of Federal Tax Return Preparers. Anyone with a Preparer Tax Identification Number, or PTIN, can prepare your taxes, but this database also shows additional credentials that you should seek out. Attorneys, enrolled agents, and certified public accountants can represent you for IRS communications such as appeals or audits. If you prefer a hands-off approach for potential tax complications, make sure your tax preparer falls into one of those categories.
What to Avoid
Now that you know what to look for, it’s equally important to know what to avoid! While promises of a sizable tax refund may sound tantalizing, don’t let yourself be tricked. Tax preparers will aid you in finding out what credits and deductions you’re eligible for, but maximizing tax savings requires year-round planning. Your tax preparer’s priority should be the quality of their service, not the size of your refund.
Quality preparers will ask many questions, always ask for proper documentation relevant to your tax return, and sign said return with their PTIN. If you find yourself with a tax preparer engaging in improper behavior, make sure to let the IRS know – and run for the hills!
With this information in mind, you’re now equipped with the knowledge to find a tax preparer to suit your needs! We at Cowen Tax Advisory Group can help and have quality staff with all the credentials you need. Call 860-676-1100 today or click here to schedule your appointment.
Lindsey Restelli
lindsey@cowentaxgroup.com
As Cowen Tax Advisory Group’s Digital Marketing Assistant, Lindsey provides in-house copywriting and manages the company’s electronic records system, email marketing, and blog.
