- 1 What is a CPA?
- 2 Do I need the help of a tax professional?
- 3 If I’m starting a business, when should I enlist the help of a tax professional?
- 4 How do I keep up with the latest tax laws?
- 5 How should my tax preparation fee be determined?
- 6 When should I prepare the payment?
- 7 How quickly should I expect my tax returns to be completed?
- 8 What happens if I get a notification regarding my return?
- 9 What is the best way to contact you when I have a technical question?
Taxes are inevitable for every American, but hiring a tax professional can help you to navigate through the difficult process of filing your taxes. Before contacting a tax professional, consider these frequently asked questions to give you a bit of information going in.
What is a CPA?
CPA stands for Certified Public Accountant. This term signifies a professional who is an accountant, and legally able to help you with tax preparation. CPAs must pass an exam, meet experience and degree requirements, as well as adhere to a code of ethics. CPAs are also known as tax professionals.
Do I need the help of a tax professional?
Everyone can benefit from the help of a CPA. Finances and tax preparation have become more complicated in recent years, and it is imperative that you do them properly. Whether you are young or old, own a business, or have children, everyone can benefit from the help of a tax professional.
If I’m starting a business, when should I enlist the help of a tax professional?
There is never a bad time to hire a professional to help you with your taxes, but when starting a business, the best time to hire a CPA is before you begin the process. This is because a tax professional can walk you from start to finish. If you have already begun the process do not worry, TaxFirms.com is a tax professional and can help you with all your business tax needs.
How do I keep up with the latest tax laws?
Tax laws are continuously changing. This means that you should be able to rely on your tax professional to stay updated. Tax professionals stay up to date, read journals, receive newsletters, and take continuing education classes often.
How should my tax preparation fee be determined?
Different tax professionals use different methods. Some accounting firms use a price sheet to set pricing for common items, while others offer set prices. Typically projects can also be billed based on time and billable hours.
When should I prepare the payment?
Most often payment is required when invoiced. Some work might be billed on a retainer, (also known as a down payment), but any remainder is always billed upon completion.
How quickly should I expect my tax returns to be completed?
Tax returns are processed on a first come first serve basis. Due to all tax returns being completely individualized, some returns can be completed quickly, while others take a lot longer. If you are concerned and have a specific deadline in mind, please make your tax professional aware.
What happens if I get a notification regarding my return?
Do not be alarmed if you receive a notification from the IRS regarding changes. It is however important to address the notices timely. Please contact the office immediately, or send a copy of your notice immediately. Your tax preparer can also provide you with guidance.
Remember that the IRS or any other tax authority will send a letter to you regarding issues on your tax return. NEVER give your information over the phone or the internet. There are countless scams occurring where someone poses as the IRS. If you receive one of these calls, hang up and report it.
What is the best way to contact you when I have a technical question?
Simply send us a message. We will get back to you as soon as possible.