How To Find A Tax Preparer In Hawaii For Your Small Business

October 6, 2016 Facebook Twitter LinkedIn Google+ Columns,Financial Service

Asking a few short questions and preparing yourself before your search for a tax preparer can make things much easier. Small business owners often worry their yearly tax filings and most would rather focus on building and managing their business. Having an organized and clear record of your expenses and invoices will help your preparer in the process.
Start by using an accounting software such as Quiken or ZohoBooks which makes it extremely easy to track your financials. Before you step into the room with a tax professional, you’ll at least want to hone a basic understanding of the numbers coming in and out.

Here are 4 questions you should ask when hiring a tax preparer:

  1. Do you have a PTIN (preparer tax identification number)? Anyone who prepares federal tax returns for compensation must have a valid 2014 PTIN before preparing returns.
  2. What records and documents will you need from me? While you shouldn’t be expected to haul in the contents of your entire home office, a reputable preparer should insist that you provide your forms W-2, 1099, 1098 and other verification of income and expenses in order to prepare a proper return.
  3. Can I file electronically? More than 1 billion individual tax returns have been processed since the debut of electronic filing in 1990. It’s the fastest way to get your refund and tends to result in fewer math errors.
  4. When will I receive a copy of my return? It’s not unreasonable to leave your preparer’s office without a copy of your completed return; assembly may be required. However, you should receive a complete copy of your return within a reasonable amount of time following your appointment.

Hawaii Tax Preparer Jimmy Huie of knows the importance of keeping records and guiding small business owners through local and federal tax codes.  With over 30 years of experience he advises anyone who is running or starting a small business to practice good record keeping and communication with their tax preparer throughout the year to ensure a smooth transition at the end of each year.