Questions Small Business Must Ask Tax Advisor


Tax season is stressful for most people as it includes gathering all relevant documents and understanding all recent changes in the taxation laws. It also includes several other tasks like filing taxes correctly and more. That is why most business owners hire accountants for business tax preparation in Yonkers, NY. Hiring a tax advisor is a complicated process. Therefore, you must ask them different questions before making the final choice. If you are confused about what to ask them, we have got you covered. This article highlights common questions small businesses ask tax advisors. Here we go! 

Questions To Ask From Tax Advisor 

1. Do you have any experience as a tax advisor? 

Firstly, you need to understand the qualifications and work experience of the tax advisor. Since it is a complicated job as it deals with finances. An experienced tax advisor provides the best guidance without any delay. 

2. Explain the entire tax preparation process 

Understanding the entire tax preparation process from a tax advisor is important so that everyone is on the same page! Therefore, it is vital to work with an expert whose schedule and preferences align with yours. 

3. What information will you require to file taxes correctly? 

Filing taxes is a long and hectic process; therefore, giving your tax advisor a clear picture of your business’s financial health is essential. While filing taxes, tax advisors will require different documents and information pieces. These include copies of tax returns, identification information, tax forms, income statements, and proof of expenses. You must ask your tax advisor about the different documents required to file taxes.

4. What is your preferred mode of communication? 

You must ask about your preferred mode of communication with the tax advisor, as you do not want to feel stuck while filing taxes. Ask them if they will be available for the entire year or will show up during the taxation season only. 

5. What is your fee structure?  

During the initial consultation, small businesses must understand the tax advisor’s fee structure. Since every tax advisor follows a unique fee structure, you must ask them at the beginning to establish transparency in the long run. Generally, the fee is charged on a monthly or per-day basis. 

Wrapping Up 

To make the best decision possible, you need to make sure you ask the tax advisor these five important questions before employing them! By assisting you with tax preparation and return filing, a tax expert can reduce the likelihood of penalties. 

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