Maintaining your business accounts and keeping a track of all the transactions becomes a difficult task when you need to concentrate on the functioning of your business. For this reason, hiring a professional tax accountant for your business is the right decision to take. But, to find the right person, you would have to judge the person based on certain criterions.
We’ve listed down a few questions that you can ask while hiring a potential tax accountant for your business.
1.What are the different businesses you’ve been working for?
Different businesses have a different set of rules when it comes to working with the taxes. You’ll have to hire an accountant who has specifically worked for your kind of business and knows it inside out.
2.How will you manage multiple entities at a time?
If you own multiple entities under your name, then make sure that the accountant you’re hiring is well acquainted and can handle working with all of them simultaneously.
3.Do your work all year round?
Accounting firms mostly close their business around 15th of April every year and then open it for the tax season. But, small businesses require help with the taxes all year. We’re sure you would not want to wait for the last moment to solve your tax issue. So, knowing the working limit of your accountant before hiring will be a good idea.
4.How do you charge for the services?
Accountant mostly charges by the hour. Since, you would not have a continuous working regime for an accountant, thus giving out fees on an hourly basis will be the right thing. You should also try and get an estimate of their fees. To do so, your accountant would like to see your previous years’ tax returns.
For further information, or if you’re looking to hire a professional, contact Profac at http://profac.ca/contact-us/ we deal with all sorts of income tax return filing services and also prepare the income tax returns as well.