Many people assume that all businesses must hire a tax accountant on staff at all times. While it is true that some businesses must hire an accountant to handle the day-to-day bookkeeping, most businesses can do so without the help of an accountant. If you own a small business and are looking to hire a qualified accountant, here are some tips on how to find one. They can be found online and in local newspapers, but before choosing an accountant you should do the following:
First, you should make sure that the tax accountant is licensed. As most people already know, taxes are expensive. When you hire a qualified accountant, you must feel comfortable that they will handle the entire process from start to finish without making any errors. You should be comfortable with their background, experience, education, and licensing. An accountant must also have experience in the field that he or she will be working in.
Second, look for someone who has experience dealing with tax laws, including the Internal Revenue Code, as well as other federal and state tax issues. You can search for “certified public accountants” in the yellow pages of your phone book. There is also a website dedicated to certified public accountants that you may use for additional research.
Finally, look for someone with a law degree, preferably from a university or college, as well as a tax lawyer. Law and accounting degree programs are very similar; however, there are differences between the two. Someone who holds both a law degree and a tax attorney degree can be especially beneficial because he or she will have been taught all of the necessary tax law and legal techniques to effectively deal with problems, not just tax return preparers.
If you do choose to hire an accountant without a law degree, you should also be concerned about his or her background in the area of taxes that you have concerns with. A good accountant will be familiar with tax laws and be aware of any changes to these laws that could affect your situation. It is also important to note that the financial industry is constantly evolving, and that an accountant must be aware of what he or she covers.
When you are trying to decide whether or not to hire an accountant and tax lawyer, be sure that you do your research ahead of time. Be sure that the accountant or lawyer you choose understands your specific financial situation and has a proven track record of success. In addition to having a bachelor’s degree, the accountant must have a CPA (Certified Public Accountant) license to be effective.