A lot of business owners often find the process of preparing taxes stressful. Some have even worked with experts in the past only to regret it later.
Now that 2023 is around the corner, finding the right tax professionals can make a huge difference. They will offer important information as you make key tax decisions. They will also ensure that you have a successful outcome whenever you have issues with the IRS.
In a nutshell, working with an expert will boost the bottom line of your startup. Check out some tips for finding the right property tax advocates.
Guide to Hire Right Property Tax Advocates
1. Training and experience matter
One common mistake that business owners usually make is not asking about the credentials of tax advisors. Whereas, tax professionals are expected to undergo certain programs by recognized bodies.
Confirm whether they belong to professional organizations. In case you’re planning to leverage property tax protest to reduce your annual tax bill, ask if they have handled similar cases in the past and their success rate.
The best ones have an in-depth knowledge of tax laws in your jurisdiction and business. The latter is of utmost importance when dealing with commercial property tax.
2. Consider ongoing support
Tax services shouldn’t end after filing your tax return. Your tax advisor must be willing to represent you in a tax audit or protest. Some even offer bookkeeping and accounting services.
Hire someone who will provide ongoing support via email or phone call. It’s pointless to wait forever or jump through hurdles before you can reach them.
3. Ask for recommendations
You can contact your loved ones or business associates for the best in your area after narrowing down your options. Chances are, they will suggest reliable ones and give reasons why each option is worth giving a shot.
Once you’ve gotten around 3-5 options, start doing your due diligence by checking their websites, searching for reviews, and conducting interviews.
4. Be wary of red flags
If a tax advisor claims they can help you get a bigger refund than other firms, see this as a major red flag. Another thing is that it’s likely they are not competent if they don’t provide e-filing services.
Listen to your gut as you search for a property tax advocate. Don’t feel pressured to take things to the next level if you’re not feeling comfortable with the idea of working with them.
5. Compare fees
Contrary to popular opinion, hiring a reputable tax expert isn’t expensive. It’s easy to find reliable service providers that will meet your budget without any hidden costs. Confirm whether they charge a flat or hourly rate. Ensure you get a written agreement after concluding the fees.
6. Offer your full cooperation
The professional you hire should be familiar with your industry and exude confidence when answering your questions. Ask whether they have a preparer tax identification number (PTIN).
It’s imperative to offer your tax advocate full cooperation once you start working together. Bear in mind that they will need important information such as your social security number, past property tax bill assessments, and bank details for a seamless process.