Three Questions to Ask Your Accountant

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When preparing your final tax return with the help of an accountant, you are going to have many questions. If you don’t, it means one of two things: you have a clear understanding of where you stand, or you are not interested in learning more about your situation.

Below are three questions to ask your accountant as you begin preparing your final return:

What do you need from me before we get started?

It is your accountant’s job to file your return with 100 percent accuracy. It is your job to supply him or her with all the information needed to do so. Make sure you keep good records throughout the year to ensure that you don’t hold your accountant back when tax season rolls around.

Is there anything you can do to lower my tax liability?

Although you can be rest assured that your accountant will do everything possible to lower your tax liability, it never hurts to ask. As long as you stay within the legal limits of your country’s tax laws, you don’t have anything to worry about. Anything you can do to pay less tax is something you should consider.

Are there any audit red flags that I need to be aware of?

In some cases, your accountant can make changes to your return to reduce your chance of an audit. Is this always possible? Of course not. That being said, it is worth looking into – it may save you a lot of time, money, and stress at some point in the future.

Once a year you are required to file a final return. With the assistance of your accountant, this is not nearly as challenging as some people make it out to be.

By asking the above questions, as well as any others that are important to you, it is possible to speed up the process without compromising accuracy.

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