This new TAX REFORM affects everyone, particularly those who have Schedule C,
LLC and S corporation.
Before the end of the year, make sure you don’t only show distribution.
If you have an S corporation make sure you have a reasonable Salary
Ten Tips for Choosing a Tax Preparer
1. Check the Preparers Qualifications. Use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.
This tool helps taxpayers find a tax return preparer with specific qualifications.
The directory is a searchable and sortable listing of preparers.
They have passed the AFSP/AFTER and updated their knowledge of new laws
2. Dont focus on the fees they charge: Some may charge low but it may cost you more if you are audited. Focus on accuracy
3. Fee structure: Avoid preparers who base fees on a percentage of the refund or who boast bigger refunds than their competition.
When asking about a preparers services and fees, dont give them tax documents, Social Security numbers or other information.
4. Ask E-File. Taxpayers should make sure their preparer offers IRS e-file.
The quickest way for taxpayers to get their refund is to electronically file their federal tax return and use direct deposit.
5. Make Sure the Preparer is Available. Taxpayers may want to contact their preparer after this years April 17 due date. Avoid fly-by-night preparers.
6. Provide Records and Receipts. Good preparers will ask to see a taxpayers records and receipts. Theyll ask questions to figure things like the total income, tax deductions and credits.
7. Never Sign a Blank Return.
Dont use a tax preparer who asks a taxpayer to sign a blank tax form.
8. Review Before Signing. Before signing a tax return, review it. Ask questions