You will frequently hear the phrase, "There are two things you can count on: death and taxes". This exemplifies how most people feel about dealing with taxes - much like facing death.
Fortunately, there are people who enjoy this, not only plugging numbers into columns, but figuring out payroll and making tax decisions to maximize the citizen's return. When searching for an accountant, there are certain things you must keep in mind to find the person who is a perfect fit.
The consumer should always consider the level of service received from his or her accountant. Consider communication, speed at returning phone calls, availability for appointments, whether they can come to your business, and the accuracy of the work they submit back to you. One of the best ways to find a good accountant is through word of mouth. Ask people that have similar financial needs than you whom they use, and do a little research. Set up a meeting and make sure this is someone you want to make a long term working relationship with.
While meeting with this prospective accountant, find out what kind of services are offered. Find out if they are a general accountant, providing bookkeeping services and if they can meet your payroll needs. Inquire on what the rates are. Also, and important consideration is how much you will have to keep up with for taxes and what they are willing to keep up with throughout the year. As the tax laws change, make sure to ask about what your accountant does to keep up with the changing laws and how that will be communicated to you.
Many accountants specialize, so make sure this person meets your needs. What kind of tax services do you require? For the normal citizen, a general accountant should be fine in most instances, but make sure to double check with an inheritance or capital gain - if your financial situation changes, will your accountant be prepared to handle it? Business owners and people with large financial assets have a lot more to consider. Corporate taxes, stamp taxes, payroll and wealth management.
For most people, future planning is important. The best way to financially plan for the future is to know exactly what you have today. While your accountant can not give you guaranteed advice, he or she can give you projected returns on your retirement accounts, business plans, investments and insurance. Your accountant is there to help you set up a budget where everything works. And although it's ultimately up to you to put the money in the bank, it is essential to have a reputable accountant there to make sure it's working for you. And when you consider the ramifications of doing your taxes wrong, there's just no way you can put a price on having someone help you do them right. Tax penalties will make life unbearable! So find your tax professional soon.
Richard Mitchell has created several online resources dealing with accountancy and has worked closely with Birmingham Accountants for some time.
No comments:
Post a Comment