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What do you want to look for in a tax professional?

You are looking for a professional you feel comfortable entrusting with a long-term relationship concerning one of your most important assets -- your money. You will probably meet with this person at least twice a year; once at the time you turn in your data for tax preparation, and once a month or so before the end of your tax year, so he or she can advise you on pre-year end strategies.

Although it’s certainly worth driving several cities away to see a good professional that knows your business, ideally your advisor would be geographically close enough so that it’s not a hassle to get to their office so you can meet face to face. They should be in practice in your state, since you’ll want them to handle your state returns and be able to advise you on state tax issues.

You do want to meet with your pro in person -- he or she will always be explaining new things, as your accounting understanding and needs become more sophisticated. So you want to be there at his desk so he can point out things on his computer screen or scribble out sketches to help you understand concepts that are new to you. Or, if she sees from the blank expression on your face that you have zero grasp of what she just explained, she can back up and rephrase the information.

You want a career tax professional who is in practice year-round, not just someone who shows up four months out of the year to grind out tax forms. (Those temp tax preparers won’t have the level of experience you need to advise your business -- period.) The best-fit tax pros for small business probably partner in a small firm or work solo. Unless your company is on the “going-public” track you don’t need one of the big firms and you certainly don’t want to pay their big fees.

Keep in mind that your accountant wants to focus on strategy issues -- she does not want to do your bookkeeping. But, if you need someone to handle the ongoing inputting of your financial data, do bank reconciliations, etc., your accountant may know of competent local services or individuals to suggest to you.



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