Tax Preparation: Questions to Consider

The 2016 tax rush is now behind us.

As with any process, it’s always helpful to reflect on how things went and determine if there are opportunities for improvement in the future.

In this post, we’ll offer a few questions to ask yourself when determining how your tax filing process went. We’ll also share a few questions you should ask yourself if you’re considering making the switch to a different Evansville tax preparation company.

If you’ve been preparing your own taxes, maybe it’s time to consider working with a tax professional. (Click here to request a risk-free consultation if you live in the Evansville area.)

What Went Well?

Start by evaluating what went well with your tax preparation. Make a list of your tax needs and make sure that those needs were met for your 2015 personal and/or business taxes. Here are a few questions to consider to get you started:

• Did I receive adequate explanation of my refund or liability?
• Was my filing completed by the deadline?
• Did my accountant help me identify any new deductions or credits that I was previously unaware of?
• Was it easy to communicate with my accountant?
• Did my accountant help me feel confident that my filings were accurate?
• Did my accountant stand behind his work?

What Didn’t Go Well?

If you’re considering switching to another Evansville tax preparation service, you probably had some issues during the filing process. Maybe your taxes have become more complicated due to an inheritance, new business, or other major life change, requiring niche knowledge that you or your accountant lack. Ask yourself these questions as you evaluate what didn’t go well this year:

• Did I underpay or overpay by a large amount?
• Were there unexpected or extra filing charges?
• Was the return price explained and substantiated?
• Did I notice an error in my accountant’s work?

What Should I Do Next?

After evaluating your 2015 tax preparation process, it’s time to start thinking about your next steps. Maybe it’s time to make a change, or maybe you’ve discovered that your current tax preparation process is working just fine with a few minor tweaks. Now is the time to ask yourself:

• Should I stay with my current accountant?
• If I’m considering a switch to a new CPA, what criteria should I look for?

Evansville Tax Preparation

Searching for a new accountant in the Evansville area? Reach out to the tax professionals at Baker Retirement & Wealth Management, PC. Our team has been preparing taxes in the greater Evansville area for nearly thirty years. We assist both individuals and businesses with taxes, accounting services, and other financial matters.

Feel free to drop by any of our convenient office locations in Evansville, Newburgh, Owensville, or Boonville. You can also contact us by calling toll free at 1-866-244-3517.