Finding the right Tax Accountant – Key Factors to Consider

best tax accountant working on tax returns
June 20, 2024

The importance of tax planning throughout a lifetime cannot be understated. Tax planning has multiple objectives, but smart tax preparation measures and strategies ensure that individuals save time and money and achieve perpetual assurance that their finances are in constant order.  

Therefore, an exceptional tax planning services provider and/or tax accountant can pave the way forward when it comes to tax planning strategies for companies and individuals. Offering tailored expertise that evolves with your life milestones and financial changes, a tax accountant can be a lifelong partner and resource that makes tax planning a financially beneficial endeavor for decades. 

Finding the tax planning services provider and tax accountant that’s the best fit for you can sometimes be a challenge.  

There are endless options and areas of expertise to filter through. It can also be initially difficult to pinpoint attributes and qualities that may make one tax professional more attractive than the next.  

So, how can you find a partner that saves you time, reduces your tax liability, and provides you with continual peace of mind? It starts by considering the following factors. 

The Complexity of Your Financial Situation and Taxes 

Not every taxpayer requires extensive tax preparation assistance from year to year. Individuals with one source of income via a sole employer, who do not have many deductions or credits, or who have other simple financial situations can usually work with a periodic tax accountant or preparer every year during tax season. 

However, you’ll need more advanced tax preparation services if your financial situation is more complex. Generally, if any of the following situations or considerations apply now or in the future, you’ll want to seek a tax planning services provider that can provide expertise miles beyond the basics. 

Reasons You Need to Partner with a Tax Professional

  • You own a business or plan to start a business, regardless of its distinctive business structure, (like a sole-proprietorship, S-corporation, partnership, or corporation). 
  •  Currently self-employed, or you collect any sort of freelance or “side gig” income that totals more than $400 in earnings. (At this threshold, the self-employment tax will likely come into play, and it’s time to take a closer and in-depth look at your possible deductions and credits.) 
  • You have experienced or are anticipating a recent change in your tax situation, such as a change in marital status, a move, a job change, or more. 
  • You sold or bought a property, or you are considering buying a home soon.  
  • You have a home office and conduct some or all your work from home. 
  • You worked or earned income from multiple states. 
  • You worked with, contributed to, or started a non-profit organization. 
  • You made investments or are planning to invest in the future. 
  • You changed tax brackets, due to an influx or a reduction in income. 
  • You retired or are planning to retire soon. 
  • You or one of your dependents went to college or invested in continuing educational courses. 
  • You inherited property or other assets from a loved one. 
  • You made donations to various charities, contributed heavily to your retirement account, or took other actions that may result in hefty credits and deductions. 

If any of the above situations apply (or may apply in the future), you need a tax professional who can handle more complex tax situations.  

Remember that the above list is just the tip of the iceberg. If you’ve ever wondered if you have taken all the credits and deductions you were owed on your past tax returns, then a consultation with an expert tax services provider can help ensure you’re on the right track. 

Your Need a Tax Professional for Exceptional Tax Guidance – During Annual Tax Season and Beyond 

Some individuals only need tax services once a year before the mid-April tax filing deadline. However, business owners, self-employed individuals, investors, and anyone who needs to make quarterly tax payments will likely need guidance year-round.  

An adept tax services provider can help with all aspects of your finances. They can help with services ranging from investments and financial planning to reviewing your business expenses and possible deductions. If you need varying guidance on a multitude of tax topics, then you’ll need an expert who understands your distinct needs and can help every step of the way. 

Therefore, before selecting a tax planning partner, ask about qualifications, areas of expertise, and services provided.  

Regardless of whether you need sporadic assistance or a day-to-day resource who can help with bookkeeping and other accounting tasks, it’s essential to ensure that you and your tax accountant are on the same page regarding what is expected to meet your needs. 

Your Need a Tax Professional for Exceptional Service, Communication, and Continued Peace of Mind 

The best tax accountants and tax planning service providers are readily available. When it comes to tax planning and preparation, questions can routinely arise throughout the year.  That is why it’s important to have a resource who is always on-call to provide expert assistance whenever needed. 

Before selecting a tax preparation and planning partner, evaluate their communication skills and responsiveness.  

Ask about their availability during tax season (when most accounting firms are at their busiest), and throughout the year. Ask if they offer virtual consultations, in-person meetings, and/or regular avenues to connect and do periodic check-ups on your finances and your tax situation. 

When it comes to finding the best tax planning partner, communication is arguably the most important factor.  

So, make sure that your tax accountant and/or tax planning services provider are always available to answer your phone calls or emails, and thoughtfully address your questions. 

Find the Best Tax Accountant for Your Unique Needs at Waters Hardy 

When it comes to communication, expertise, and custom-tailored service, your search for the best tax accountant begins and ends with Waters Hardy. 

We will be your lifelong partner for tax planning strategies. Additionally, our decades of expertise and client-focused services can be a perfect match for your distinctive tax situation, no matter how it evolves in the future.  

Reach out to us today to start the conversation. Let’s work together to ensure you have peace of mind and extra money back in your bank account this year and for many, many years to come.   

Contact us today!  

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