A tax accountant is an accountant that specialises in tax-related matters such as calculating and filing taxes. Tax accountants are not only hired by businesses but also engaged by individuals as they ensure one does not overpay or underpay their taxes. Below are tips to guide you when hiring a tax accountant.
Reputation and qualifications.
The tax accountant you hire should have an excellent reputation. You can ask for recommendations from friends or other businesses. Alternatively, look up for tax accountants with positive reviews online.
The tax accountant should also be licensed to practise by the relevant authorities. Ensure that he or she is qualified to practise. In Australia, the minimum qualifications to be a tax accountant are a bachelor's degree in accounting. You are better off with an experienced accountant who has specialised in taxation matters.
Should you hire a firm or individual?
Sometimes, people have a difficult time deciding whether to hire an individual or a firm to handle their tax affairs. For businesses, particularly large enterprises, accounting firms are better suited to manage their tax matters. This is because they have many transactions that require a team to evaluate. If you are an individual, you can hire an accountant or ask the firm to assign you a specific accountant to handle your affairs.
The accountant you hire should have the following skills.
• The accountant should be an excellent communicator. He should be a good listener and a good speaker as well.
• He or she should meet all your deadlines on time.
• The accountant should be a good team player.
• Integrity. Your choice of accountant should be honest and trustworthy.
• He or she should have sufficient organisational skills.
• Initiative. The accountant should always go the extra mile in his or her work. He or she should offer advice on accounting related matters.
The accountant should be easy to relate to. Remember that once you hire the accountant, you will have a long-term relationship. Do not hire the accountant if you find that he or she has a difficult personality. Besides, avoid accountants that are not available to attend to your matters.
Inquire on the costs of hiring the accountant. Ask the accountant about any additional costs you might incur during your interaction. Always ask for a price cut if you will be hiring the accountant for a long time or if you have a business.
The primary considerations when hiring an accountant are the accountant's reputation, skills, personality and the consultation costs.