5 Key Credentials Of The Tax Consultant Your Business Needs

The best small business tax services, by nature, require a professional with certain credentials, from experience to qualifications. Not all tax consultants are equipped to support small business owners, and not all small business tax advisors are best for your unique company.

The truth: Finding the right tax consultant for your business is a matter of seeking someone who communicates on your level and has the experience and qualifications best suited to help you. Consider the following five credentials to maximize your search.

  • Experience Providing Small Business Tax Services
    If you work with someone who has far more experience with big business, you’re bound to become frustrated. You never want to be the smallest (or least important) client. You need someone to truly get to know your business. Work with a partner who appreciates your business and is capable of giving you the attention you deserve.

  • Some Familiarity With Your Industry
    Finding a tax consultant with experience in your specific field is much less important than finding someone who understands small businesses and their tax concerns. Tax codes are the same regardless of the kind of business you’re in; it’s how they are applied that varies. You need a partner who is capable of helping you best apply these codes to your small business.

    Nonetheless, it’s important for an advisor to have experience with certain aspects of your particular business. For instance, if your employees make tips or your business involves inventory, you need someone who understands the implications of these characteristics.
  • Comprehensive Tax Services And Abilities
    Your tax consultant must be capable of addressing all of your tax needs – federal, state, payroll, income, sales and beyond. If you have a specific tax concern, ensure that your consultant’s tax services address this issue. Be cautious and make sure that no one is agreeing to support you in ways that he or she is not qualified to.
  • More Than Licenses And Certifications
    The most extensive resume may be impressive, but if the resources to support you are lacking, how much value could that individual truly provide? Look for credentials as a starting point, but don’t let it be the determining factor. A certification alone doesn’t make a tax advisor qualified to best help you.

    Consider your specific needs and focus on finding someone who has the resources and knowledge necessary to support your small business.
  • Capacity To Make Projections Into The Future
    While the majority of tax services focus on past happenings – taxes paid on last month or year’s revenue – you need someone who is able to project what the coming year holds. This is most valuable.

    Being able to tell you what happened last year is a proficiency that most tax advisors possess. On the other hand, it takes a unique skill set to make a sound projection for this year. It’s also important for your consultant to give you counsel on what to adjust to reduce your tax burden. Simply indicating what you owe from last year’s operations isn’t nearly as valuable.

Now that you know the professional characteristics you must look for, it’s necessary to understand the personal characteristics that make for a supportive partner. Tune into our next blog post to learn the three traits that indicate the right tax consultant for your business.

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.