Did you know the hiring rate for accountants is expected to grow seven percent by 2030?
Though the industry isn’t set to progress very quickly, that isn’t necessarily a bad thing. When you have a smaller job market, it’s easier to find a professional you can trust and work well with. With that in mind and this guide to help out, when the time comes to hire an accountant for taxes, you’ll know exactly what to look for.
Read on to learn about the basics of hiring an accountant.
Ask Plenty of Questions
Ideally, you’d meet with the person you’re looking to hire before doing so, but this isn’t always a possibility. At a minimum, you should send over a few questions beforehand. Here are a few examples:
- What licenses and/or designations do you have?
- What’s your specialty?
- Have you worked with a business like mine before?
- What’s your ITIN?
- Do you sign tax return forms?
Your tax return actually needs to be signed by whoever completed it before it gets filed. Asking for an accountant’s ITIN and about their specialty is going to help you know that they’re qualified to offer the services they’re providing you.
Aside from those questions, you also want to verify the things they say by asking about their work experience. If they say yes to working with others in your field, but then can’t provide specific examples, it’s probably best to walk away.
Also, are they educated on local tax laws or concepts like Hong Kong’s holdover of provisional tax?
You need an accountant to be up-to-date on federal and local tax laws if you’re going to trust them. You also need to work with someone who knows about the business or industry you’re in. This is going to help not only meet tax minimums but also get the most out of your returns and with other benefits.
Watch Out for Red Flags
No matter who you’re looking to hire, there are always red flags to be on the lookout for. Are some of the promises they’re making too good to be true? Are they only focusing on the good of their business and not being transparent when you ask potentially difficult questions?
If they can’t be transparent when asked simple questions, you might not be able to trust anything else they tell you. You also won’t really be able to get an idea of how their career has actually been, which is something else to keep an eye on. If it seems like their career isn’t headed in a good direction, it might be best to hire someone else.
Ready to Hire an Accountant for Taxes?
Now that we’ve gone over the basics, you’re ready to hire an accountant for taxes. Whether this is your first time working with someone, or you’re just looking for a new accountant, these tips are a great place to start when you’re about to start the hiring process.
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