Did you know that small businesses spend a total of 2.5 billion hours prepping for and answering questions about their tax return every year?
The tax process is complex and stressful. One way to take some of the weight off is by having a great tax advisor.
So, what do the best tax advisors all have in common? These five traits. Keep reading so that you can find the best person for the job.
1. They Know How to Reduce Taxes Legally
One of the main reasons to seek out a small business tax advisor is to get counsel on reducing taxes. The operative word here is ‘legally’.
There are many advisors out there who are quick to recommend sneaky tactics that toe the line of legality.
What’s more, there are advisors who play it too safe and don’t get creative with reducing taxes. Find someone who knows the laws and all the reductions that you qualify for.
2. They Prepare Your Tax Return
A top tax advisor will not only offer you counsel but will prepare and submit your tax returns, too. This means you won’t have to do it yourself or find a separate person to do it.
The tax return process can be confusing and it’s imperative that your returns are done correctly. A good tax advisor will save you time and ensure that your returns are error-free.
3. Interested in Understanding Your Business
The best tax advisors for small business are the ones that care about understanding the ins and outs of your organization. They will ask you plenty of questions to ensure they have all the information they need to advise you adequately.
These types of tax advisors will dig into your financials and come up with bespoke solutions for your business. This is exactly what your small business needs, rather than a one-size-fits-all, generic approach. 4.
4. Extremely Organized With Attention to Detail
Choosing a tax advisor isn’t only based on professional know-how. The best tax advisors are also organized with impeccable attention to detail.
This is an important quality trait as business taxes are complex and involved, with a lot of very important aspects going on at once.
An organized tax advisor will have a system that ensures there are no errors and that everything important gets done.
5. Has Experience With Business Taxes
Filing taxes for an individual is vastly different from filing business taxes. What’s more, filing taxes for a massive enterprise is worlds apart from those of a small business.
The best tax advisor for small businesses will have experience with small business taxes. They’ll know the regulations, reductions, and solutions that are applicable to your business.
The Best Tax Advisors Aren’t Hard to Find
If you know what you’re looking for, of course. Lucky for you, now you do. Use these five character traits to find the best tax advisors for a stress-free tax season this year.
Looking for more business advice and tips? Our site is packed with content for business-savvy individuals — keep exploring for more!
_______________________________________________________________________
Some other articles you might find of interest:
Would you like to better understand how to drive and increase traffic to your startup website?
How to Drive & Increase Traffic to Your Startup Website
Do you have what it takes to start and run an online business?
5 Key Skills You Must Have to Start & Run an Online Home Based Business
