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Why Tax Planning Is Important

Get the Accountant You Can Trust

Tax planning is the process of looking at your financial situation from a tax perspective and making decisions that will minimize your tax liability. Tax planning is important because it can help you save money on your taxes, which can free up more funds for other financial goals. There are a few things to keep in mind when it comes to hiring experts.

Ask for Referrals

One way to find the right accountant is to ask for referrals. Ask your friends, family, and co-workers for their accountant’s name. Your employer, who may be paying your accountant, may also be someone you should ask. Also, if you have a business, you may have already used an accountant. If you have, take the time to ask for their name and number. Your accountant’s references will speak for them, so you need to pay attention to what they have to say.

Get a Written Estimate

One of the best ways to protect yourself is to have a written estimate. If the accountant gives you an estimate over the phone, you will have no proof that they offered a written estimate and the other party could try to play you for a sap. It is a given that an estimate is a great tool to protect yourself. You will also be able to compare the estimate to what the accountant is charging you.

Get References

While it is perfectly acceptable to ask for references, it is also a good idea to go beyond that. Many times, the accountant has provided references over the phone, so you should follow up on that. Make sure to at least ask for a list of references. If you have a business, try getting the names and phone numbers of the people they have worked with and the services they used.

Make sure all Your Needs are Addressed

You should always make sure that your accountant’s services match your needs. Make sure to ask if you have any specialized tax needs. Also, make sure to ask them about the services they don’t provide. For example, if you pay your accountant to file your taxes, you should make sure that they will not prepare your taxes for you.

Need a hand with your tax planning in Pompano Beach, FL? Trust no other than Upland Tax. Just dial (786) 273-0802 to reach me.