Having improperly done taxes is a good way to land your business in trouble. Not only can it lead to fines and penalties from the IRS, but it can also give your business a bad reputation. This is why it’s so important to make sure that you have a competent and reliable tax accountant on staff.
If you’re rightly thinking of hiring an in-house tax accountant, there are a few things you should keep in mind. Such as.
Look for Someone You Can Afford
You don’t want to spend all your funds on an accountant with nothing left to pay your staff’s retirement account or your own salary.
When looking at an accountant’s fee, make sure to ask each candidate about all the services they’re including in their quote. If there are additional services that you may need, such as tax planning or bookkeeping, be sure to ask for a separate quote for those as well so you have the total cost.
Once you have quotes from all those you’re interviewing in front of you, compare them to see which one offers the best value for your money.
And don’t be afraid to negotiate the price, especially if you feel like you’re being overcharged.
Look for Someone With Experience
This is probably the most important thing to look for in a tax accountant.
You want someone who has plenty of experience dealing with taxes. This way, you can be sure they know all the tricks to get you tax deductions and keep you compliant with the IRS.
To find someone with experience, take a look at their resume. See how long they’ve been practicing tax accounting and what kind of businesses they’ve worked for in the past. If they have experience with businesses similar to yours, that’s even better.
You should also ask them about any challenges they faced with tax accounting in the past and how they were able to overcome them. This will give you further insight into their level of experience.
Look for a Team Player
An in-house tax accountant will have to interact and even work with the rest of the staff one way or another. This is why it’s important to find someone who is a team player.
A good way to gauge this is by talking to their references. Ask them if the accountant was easy to work with and if they were able to build good relationships with other staff members. If they have positive things to say, then that’s a good sign.
You can also test their team player skills during the interview process by giving them group exercises to complete. See how well they work with others and if they’re able to take direction from you.
By following these tips, you should be able to find an in-house tax accountant that is a good fit for your business. Just make sure to take your time with the hiring process and ask plenty of questions. After all, this is someone who will be handling your taxes, so you want to be sure they’re up for the task.