Get in touch

Fill out the form below for any queries you might have or reach out to our team via email.

I give permission to Best Tax Accountants to reach out to firms on my behalf.

11 Essential Questions to Ask Your Tax Accountant

August 08, 2023
2 min read

As you embark on the perennial journey of tax filing, a tax accountant's role is a significant one – they are your guide, your confidante, and your navigator in an intricate labyrinth of tax laws, codes, and financial jargon. To ensure the journey is smooth and beneficial, it is crucial to pose astute queries to your tax guide. For the intellectually well-endowed, here are eleven essential questions, grounded in accounting theory, tax law, and financial strategy, that should be part of your discourse with your tax accountant.

  • What Is Your Tax Background and Experience?
  • What Tax Strategy Do You Propose for My Situation?
  • How Are You Keeping Up with Tax Law Changes?
  • Are You Familiar with State-Specific Tax Laws?
  • How do You Calculate Your Fees?
  • What Information Do You Need from Me?
  • How Can I Reduce My Tax Liability for the Next Financial Year?
  • What Is Your Standpoint on Aggressive Tax Planning Techniques?
  • How Do You Handle IRS Audits?
  • How Will We Communicate and How Often?
  • What Are Your Privacy and Confidentiality Policies?

These questions serve a dual purpose – evaluating a potential tax accountant and setting the stage for open communication throughout your tax preparation process. The knowledge gleaned from these questions will empower you to make informed decisions, thus aiding you in this complex journey, one that can be made less daunting under the guidance of a capable tax accountant.

After all, the philosophy of taxation itself is not merely a financial exercise, but a testament to the social contract - as posited by philosophers from Hobbes to Rousseau. You are not just calculating numbers, but contributing to the collective machinery of society. Therefore, a tax accountant becomes an essential partner in this journey, one who aids you in translating the complex language of tax into the simpler vernacular of your everyday life.

TAGS
Taxation
Accountant
Questions

Related Questions

Your tax accountant should have relevant educational background and certifications such as CPA, Enrolled Agent, or Tax Attorney. They should also have experience handling tax scenarios similar to yours.

Your accountant should suggest a tax strategy tailored to your unique circumstances, aiming at tax reduction and financial optimization.

Tax laws are ever-changing. Your tax accountant needs to maintain a constant vigil on these changes to ensure compliance and optimization.

If you have assets or business interests across states, your accountant should be proficient in managing multi-state tax issues.

The cost structure could be based on hourly rates, a flat fee, or a percentage of the refund. It's important to understand this to avoid any unpleasant surprises in the future.

Your accountant will require thorough and accurate financial information, including income statements, expense reports, investment income, and other relevant financial data.

Your accountant should adhere to the American Institute of Certified Public Accountants (AICPA) privacy and confidentiality guidelines as you will be sharing sensitive financial information with them.

Interested in the Best Tax Accountants in Chicago?

If you're interested in learning more about tax accountants, be sure to check out our blog posts for the latest information. Additionally, take a look at our rankings of Best Tax Accountants in Chicago to find the right fit for your needs.

Contact
Questions? Let us help.
Brought to you by the Editorial Board of Best Tax Accountants
Zero-Error Content : Crafted by Olivia Blake , polished by Avery Lincoln , and evaluated by Teresa Silver | All rights reserved.