How Do You Select A CPA?
Let’s face it, there are thousands of CPA’s and tax firms out there that claim they are the best fit for your taxes, but the fact is, not everyone is qualified and understands your specific business and personal needs. There have been many tax changes that have taken effect over the last year that can really benefit businesses and now more than ever, it is vital to choose the right tax specialist. Selecting the right tax advisor for your business is crucial to making sure that you are not leaving money on the table. Here are some things to think about when selecting your business tax preparer.
- Qualifications – Make sure your CPA or tax firm is qualified to do your business taxes. Many are terrific at filing personal taxes but are not the best choice to do your business taxes. Business taxes can be complicated. There are more forms and over 250 different deductions for expenses that a business could possibly take. Make sure your CPA knows what deductions would be right for you and your business.
- Up to date and aware of tax changes – With major tax reform going into effect for many this tax season, it is crucial to use a specialist or firm that is up to date on the many tax code changes. These changes and hurt your business but most importantly there are new deductions that can really help lower your businesses total taxable income. Hint – make sure to ask your CPA about the new “Qualified Business Deduction” to see if you qualify for an additional 20% deduction!
- Yearly tax planning, and quarterly filings – When running a business (especially for anyone starting out) it can be difficult to know how much you should be saving for taxes or how much you should expect to owe at the end of the year. Yearly tax planning and quarterly filings is a great way to ensure there are no big surprises for your business in one lump sum. Plus, this is a great way to ensure you are staying on top of all your business deductions by not letting anything slip through the cracks.
- Expense software – Tracking expenses for your business can be a daunting task. Good news, many tax specialists have software to make your lives easier. Tax organizers or expense software is offered to help you stay on top of your business expenses so come time to file your taxes, whether that is quarterly or yearly, you know exactly how much you can deduct.
- Assistance – Do you pay an hourly rate, or get charged for every question that you have? Some specialists or firms will charge an hourly rate, so you never know exactly how much a tax strategy session will cost you. Even worse, you don’t want to be charged every time you have a question. Make sure you pick a firm or advisor that is going to give you unlimited access to a CPA. Taxes are stressful enough, don’t worry about running up the clock!
We at Prime Corporate Services are confident that we would be a fantastic fit for your business taxes, no matter how complex. We have prepared thousands of business taxes over the last 8 years and work directly with the new tax code, ensuring that our client’s taxes are filed correctly and can deduct as much as possible. Our tax service includes business and personal filings, year-round tax planning with quarterly filings, unlimited access to a CPA, and expense software to make sure your expenses are being tracked.
Request a consultation today to learn more about how we can help you keep more of your hard-earned money in your pocket.