Many Bronx taxpayers have concerns about the taxes they pay and wonder if there is a way for them to save on taxes. You will be surprised to know that the best answer to this question lies with you only. While most tax preparation services help calculate and file your taxes, are you sure that you are getting the absolute best services available?
Most people are very picky about the kind of brands they wear and the restaurants they where they eat, so why compromise on the abilities and expertise of a tax preparation service. You should realize that taxes are probably the single biggest expense you have during the year, so do not compromise on the assistance required.
As in the case of any service that you hire, you have to choose the right service provider so that you can get the best results. Here are some pointers to help you find the right tax Bronx tax preparer.
Are you paying the minimum amount of tax as required by law?
While you want to reduce the amount of taxes you pay, you want to follow all the legal practices. There are various laws that apply for various types of businesses and conditions. These laws provide a legal exemption in certain cases. You can effectively reduce the amount that you pay as taxes if your tax preparer applies these exemptions. Hence, it is important that you hire a tax preparation service that has a qualified team and a good amount of experience. They should know the laws and updates; they should also have a review system in place to review tax filed and provide information on ways to improve your federal income tax return.
So, make sure your tax preparation leads to a situation where you are paying the least amount of tax, legally!
What are your Audit Risks?
Tax audits can be random; however, there can be certain activities that can also lead to tax audits. Your tax preparation service provider needs to understand this and take great care to prevent this from happening. You have to be sure that the tax audits do not put you under the scanner for the wrong reasons; hence, the expertise of your tax preparer is very important. At times there are certain red flags that cause such queries or audits, your tax preparation service should be aware of prevalent red flags and know how to avoid them.
Ask your preparer to get the tax file reviewed before filing; you should also check to see if the company has an audit defense plan in place. Most reputed tax preparation services will offer you an insurance policy; thus, stating, without saying that they offer top notch tax services. With such providers the risk of an audit will definitely go down. However, no service is fool-proof, so it is better to ask the service provider about the audit cases they have handled in the past. With the understanding of past cases, you will get a fair idea of how well the company is prepared to handle your case and ensure that you can get the best tax preparation service.
How much are you paying as tax preparation fee?
While you should never opt for cheap service levels, a cheaper service fee never hurts. You can save a bit by ensuring that you can find a service provider that does not charge you a hefty amount as a service fee. Moreover, the fee structure has to be transparent so that you are not surprised by a huge invoice when it’s too late.
It is better if you ask for the fee structure upfront to be aware of the various points that will cost you money; most tax preparers provide a flat service fee.
Most service providers have a website. You must read through the website and look for the a review section. Check what their clients have to say about them. This will give you a fair indicator of what to expect. While the tax preparation service should be good with the actual process, they should also do it in a professional manner. So the response times, courteousness and professionalism is important as well.
When you have assessed all the above mentioned pointers, as a Bronx taxpayer, you will be in a much better position to hire the right tax preparation service.
Tax Associates provide taxpayers such as you with a team of seasoned tax preparers who are ready to provide exceptional tax services. If you need guidance with your taxes, contact us and we will be more than happy to help.
Donna J. Jackson & Associates, PLLC
