Finding A Tax Preparer For Your Sole Proprietorship

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Finding A Tax Preparer For Your Sole
Proprietorship
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• When you are the sole proprietor of a business,
  whether large or small, you need to pay extra
  attention to your taxes and incurring costly
  penalties for mistakes or inadequate data, is
  always a possibility if you dont engage with a
  tax preparer.
• Here is some advice to keep in mind if youre
  looking for a professional tax preparer to help
  keep you on the right side of the IRS
• Dont neglect your records
• To make life easier for both you and your tax
  preparer, its vital that you keep good records
  of your expenses and invoices all year round.

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• Neglecting this aspect of your business may be
  easy, but it will only ever cause you problems in
  the long run and will make your tax preparers job
  far harder to do. Not only that, but it could see
  you missing out on possible deductions and paying
  out more than you may need to.
• Try to get your head round the basic numbers of
  your business before you meet with your tax
  professional, at the very least, and that way you
  will find the entire process less stressful.
  Without clearly organized receipts and invoices
  though, both you and your tax professional will
  struggle, and you may even incur penalties for
  late or incorrect filing.

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• Try to learn a little of the lingo
• You do not need to be well versed in the entire
  tax code, but you should have a basic
  understanding of such things as why you are a
  sole proprietorship and not some other type of
  business, and whether you can deduct on your home
  or car, to name but a few. For the lingo that you
  do not understand, ask your chosen tax
  professional so that you have a better
  understanding of things and will not get a nasty
  surprise when it comes to filing.

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• Dont be afraid to research tax professionals and
  check their credentials
• Your business is important to you, and so if
  youre going to be allowing someone access to
  your financial dealings, you want to be certain
  that they are who they say they are, and that you
  can trust them.
• You can check with the IRS to see if there are
  any fraudulent claims made against the individual
  or their business, and the National Association
  of Enrolled Agents and the American Institute of
  Certified Public Accountants can help verify the
  credentials of your potential tax preparer.

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• Along with the legitimacy of their qualifications
  and experience, you should also check the way in
  which they work and ask how they do projections
  for their clients businesses. There is, in fact,
  nothing to stop you from speaking to their
  clients to get a better view of how they work and
  whether they are up to date with all the changes
  to tax laws.
• Does your potential tax preparer answer your
  questions satisfactorily?
• Make sure that you ask your potential tax
  preparer any questions that you may have, and if
  they dont return your questions with any of
  their own,

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• that could be a warning sign. How will a tax
  preparer understand your business if they dont
  ask you any questions about it? And how well will
  your relationship function if they dont ensure
  that you have fully understood what they are
  saying to you?
• Most importantly, dont rush into things when
  looking for a tax preparer for your sole
  proprietorship.For many, their business is also
  their life and may even be their sole source of
  income, so make sure that you feel you can work
  well with the individual before entering a
  legally binding relationship with them.

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• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax preparation service
  Coral Gables. If you are looking for tax
  preparation service in Miami, Heyer Associates
  would be a right option.