Critical Factor #1: After you identify your needs, review CPAs who can assist you in the areas you need help. Then narrow down your choices to those who you feel comfortable with.
Critical Factor #2: Use referrals from people you know. It’s nice to use a CPA who provided strong service to someone you know.
Critical Factor #3: Get an engagement letter that clearly states the services you what the CPA to provide.
Critical Factor #4: Be cautious of tax preparers who claim they can obtain larger refunds than other preparers.
Critical Factor #5: Preparers who base their fees on a percentage of the fund are unethical.
Critical Factor #6: Consider whether the CPA or firm will be around to answer questions about the tax return for months or even years after the return is filed.
Critical Factor #7: Reputable tax preparers will ask to see receipts and supporting documents as well as request multiple questions to determine whether expenses are legitimate deductions.
Critical Factor #8: The taxpayer is ultimately responsible for penalties or fraudulently prepared tax returns. Be careful that your preparer is not falsifying or making up deductions.
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