Preparing taxes is one of the least enjoyable tasks a person faces each
year. While many single or multiple income households feel that they
can prepare their taxes on their own each tax season, it is a good idea
to think about taking advantage of professional tax preparation
services. In fact, if you’ve ever found yourself wondering if you could
take a specific deduction, if you could take advantage of other
deductions you don’t know about, if you could be paying less or getting
a larger refund, or even if you simple wonder if you are preparing your
taxes properly, you should consider professional tax preparation.
When you are thinking about using professional tax preparation
services, it is important to think about what you are looking for from
your accountant. If you would like to have your taxes done as fast as
possible, it is probably best to have them done by a nationally
recognized service that specializes in quick professional tax
preparation. This type of professional tax preparation is designed to
have your taxes done as quickly and as thoroughly as possible.
If you are looking to make a tax plan for the future, a licensed tax
professional is the best option for professional tax preparation. You
can choose from either a Certified Public Accountant (CPA) or an
Enrolled Agent. A CPA is an accountant who has passed certain
examinations and met all other statutory and licensing requirements of
a United States state to be certified by that state. This usually
includes 150+ hours of business and accounting related college
education in addition to a CPA exam that usually runs about 14 hours.
Many corporate and small businesses use CPAs for their professional tax
preparation as well as special tax circumstances like tax audits.
An Enrolled Agent is someone who has successfully completed an IRS test
that encompassed all facets of taxation as well as passed a background
check. Enrolled Agents must also complete an 8-hour exam over the
course of two days. Unlike CPAs or tax lawyers, Enrolled Agents undergo
testing by the IRS without intervention from a third party. Enrolled
Agents can also have their earned title removed by the IRS for wrongful
conduct.
If you are considering professional tax preparation because of a
specific problem, you will want to find a professional who is trained
to handle your specific issue. As with any other product or service,
professional tax preparation is available at a number of different
prices and you should compare to find a fee that suits your budget. Not
every professional tax preparation service will be able to schedule an
immediate appointment, so your tax needs and urgency should be taken
into consideration. Most importantly, when you are using professional
tax preparation services, you want to make sure that your accountant
offers you a guarantee for his or her work.
