By Evan Vitale
You should feel absolutely 100% comfortable with the tax preparer you hire for your business.
During the search and interview process, make sure your tax preparer:
- Knows the tax law extremely well.
- Knows how to be creative legally (no, your tax preparer isn’t going to cheat on tax returns for you).
- Asks you many questions about your business situation, so they can better understand your financials and goals. Don’t be afraid to offer valuable information as this will only help your tax preparer in offering the best tax advice.
- Has a review process in which at least one other person in their office also reviews the final tax returns to make sure everything is correct before the returns are signed.
Ask your potential tax preparer candidate how many times their clients have been audited by the Internal Revenue Service. What was the outcome of such audits? Were additional taxes assessed by the IRS or were there no charges? Does the tax preparer offer an audit defense plan?
In Part III, we’ll offer some other prepared questions you can use when interviewing a potential tax preparer for your company.
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Evan Vitale is a multifaceted finance and accounting professional who provides Audit, Accounting, Tax, Due Diligence and Advisory services to Venture Capital Funds, Hedge Funds, Private Equity Funds, Family Offices, Small Business Investment Companies (SBICs), Funds of Funds, Other Investment Groups and their management companies.
Today’s market has made it extremely difficult to predict what the next day will bring. For Funds and Other Investment Vehicles, the expectations remain to balance the different opportunities with a continued focus on value creation in existing portfolios. The key to any successful organization is building and maintaining the trust of your investors. Evan has the expertise to help you shine in your investor’s eyes and stand apart from the competition.
Connect and network with Evan Vitale on LinkedIn.