Finding the right accountant isn’t always that easy, but it is pretty important. If you have relocated, have new circumstances in your life that will need special consideration when filing taxes, or are not happy with the work that your current accountant has done for you, then it is time to find someone you can trust to keep you on the right side of the IRS.
You might even be thinking it would be easier to do the job on your own and start preparing and filing your own taxes rather than go through finding another accountant. But before you do that, you should consider if you have the time to properly manage and file your own financial statements. Consider the following:
- Have you had multiple jobs in the past year or have numerous sources of income?
- Do you have your own business and need a business accountant?
- Do you have rental properties or have bought and sold a house or two?
- Do you work out of the home?
- Do you understand the new tax laws?
Any of the above or combination of the above can put a hitch into your tax filing and cause you stress and a waste of time and energy worrying about if you are doing it right. A professional accountant will work with you to make sure any unique circumstance will be filed correctly without any potential audit in the future for your personal taxes and your business taxes. Having an accountant by your side will generally save you money where you didn’t know you could.
How To Find an Accountant
It is important to find an accountant you feel you can talk to, work with, and trust. The more financial aspects you have in your life, the better it is to have a professional to guide you through the accounting principles. Take your time to talk to a few professionals to assess if they are a good fit for you and your financial needs. Referrals from friends and family are one way to find an accountant. Be cautious with this, as they may not have the same complicated accounting you have, and their accountant may not be as qualified to assist you. Another way to find an accountant is to have a search done for you of highly qualified professionals. Based on your criteria, you will be able to consult with the accountants that were selected for you.
What Type of Accountant Do You Need?
When searching for a new accountant, you need to think about what kind of accountant you need. Do you need someone to do a simple yearly tax filing for you? Do you need someone to help you with complicated and detailed personal tax filings? Do you need someone who can do both your personal and your business tax filings as well as keep you organized throughout the year?
Having a professional to guide you through your yearly business financials is just as important as your personal financials. If you own your own business, you need to spend your time and energy on your business. A professional accountant will work with you throughout the year to prepare quarterly statements and help you plan and budget your next quarter. Finding an accountant that you can trust to be your financial advisor and show you how to work toward future projections is a great benefit to you and your business.
Hiring an Accountant
You should spend time consulting with a handful of accountants before hiring one. Make sure you feel comfortable with them and that they have enough experience. Feel free to ask how they can help ease the burden of your personal filing commitments as well as help you grow your business. Ask about tax planning and what you can expect and plan for in deductions. Finally, ask about their fees and billing structure.
An accountant can generally cost from $125 to $425 an hour. You may think that you cannot afford this expense, but in the long run, a good accountant will save you much more money. It is worth the freedom in your personal life and the financial growth in your business life to invest in this financial advisor.