What to Look For When Changing Your Accountant or Tax Advisor

Tax time can be stressful, which is why it’s important that you can rely on great accounts and tax advisors to safely navigate your finances with you. If you’re interested in or thinking about changing your accountant or tax advisor, keep reading and learn a few red flags to look out for and how to go about finding a good tax advisor or accountant you can trust.

Reasons why you may want to change your accountant or tax advisor

There could be many reasons you want to change your accountant or tax advisor; maybe you’re moving, changing career paths, or just looking for a financial change. If that’s the case, keep an eye out for these red flags:

If you and your accountant don’t see eye to eye, it may be time to change your accountant. While there are extensive tax laws that require accountants to perform to a certain standard, each accountant and advisor has their own tax style. Since they will play an integral role in managing your finances, it is important you agree with their doings.

Another reason you may want to change your tax advisor is if you feel you are not getting the value for what you are paying. Rates are subjective to the advisor and if they are not delivering what you expect, it might be time to move on. A tax advisor provides insight and strategies on how to approach your taxes and strategies can often result in you paying less and keeping more of your hard-earned money. However, if you are not benefiting from this relationship, you may be spending even more money to retain them with no benefit for you.

A third reason you may want to change your accountant is if they can’t provide you with proper documentation when asked. For example, if you ask for something in writing to support their position on a specific tax rule, law, or material and they are unable to provide it – you should reconsider doing business with them. Accountants that are well versed in tax will know what they are and are not able to do and will be able to provide you with documentation that you ask for supporting their tax decisions.

How to Find a Better Accountant or Tax Advisor

To begin your search for a better accountant or tax advisor, you’ll want to research your options. Know the type of taxes you file; personal, business, or both, and research preparers who are well versed in those returns.

Next, look into the different types of preparers. “Enrolled Agents, CPAs and PTINs can represent you in front of the IRS while preparers with only ETINS can not.” (NerdWallet)

In the event you are ever audited or have a payment issue it is best to know ahead of time if your preparer can represent you or not.

Lastly, you’ll want to find an accountant that maximizes tax deductions and minimizes tax liability. This ensures you save as much money as possible, without putting yourself at risk.

What Makes MBE Entrepreneurial Advisors Different?

Whether you are filing taxes for your business or your family, preparing your own taxes often leaves you with more questions than answers.

Tax laws are often confusing and constantly changing, and our tax professionals are here to alleviate that stress and ensure that you, your family, and your business never pay more than you need to be.

Our tax preparation and planning strategies are tailored to meet the circumstances of each individual client. We operate with the goal of maximizing tax deductions and minimizing your tax liability. Our proactive approach will help identify potential opportunities and areas of risk so that you will save money both today and in the future.

To schedule a call and learn more about our tax services, click here.

Wrapping Up

Overall, your accountant and tax advisor should be someone you can trust completely with your finances. They should be honest, provide you with a valuable service, and agree with you on your approach to taxes. If you feel as though your current provider does not give you that, we encourage you to explore other options. Taxes don’t need to be made harder than they are because of your relationship with your accountant.

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MBE CPAs PPP2 Qualification resource sheet can be downloaded here.