Filing your tax return can be intimidating, after all, this isn’t something you want to get wrong.
While many people can probably handle doing their taxes with the right preparation, there are some circumstances where it might make sense to hire a tax professional. Maybe your tax situation is complicated because you have a variety of income streams or run a small business. Or maybe you simply want the assistance.
What to look for in a tax pro
Check credentials: There are different types of tax professionals, including certified public accountants (CPAs), enrolled agents and tax attorneys. Paid tax return preparers need an IRS Preparer Tax Identification Number. You can check credentials with the IRS. The person working on your taxes will know a lot of your personal and financial information, so hire someone trustworthy.
Ask about payment: Costs vary, so be sure to ask if you’re paying by the hour or a flat fee. The IRS suggests avoiding anyone who promises bigger refund checks or bases fees on a percentage of the refund.
Don’t forget: Always review a return before you sign it. And don’t be afraid to ask questions to make sure you understand what’s on the return.
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