--- Time to Start Thinking About Business Taxes - Some Tips on Hiring a Professional to Help You ---

  It's the time of year again to start getting ready for filing taxes for your business or yourself.

  The IRS recently began accepting e-filed returns. You will get a better result if you talk to your preparer early, rather than waiting until the last minute. Most 2019 business income tax returns are due March 15th and Individual returns on April 15th this year. There are various exceptions to these dates.

  Since pretty much anyone can obtain a PTIN from the IRS that allows them to legally prepare tax returns for others, it is important for potential customers to be sure the person they choose is reliable and honest. It is illegal for someone to prepare a return for another and fail to list the preparer's name and PTIN on that return.

  Be sure that the person you are giving your personal information can be relied on to maintain that information in confidence.

  If you are thinking of changing your tax preparer (or are uncertain about the qualifications of your current preparer), it may be helpful to understand the different categories of professionals involved in preparing tax returns.

  There are three main categories of professionals involved in tax work, along with several others who are used in specialized circumstances. All three listed below are licensed and regulated by a government agency, subscribe to an ethics code and have confidentiality requirements. They are licensed based on meeting certain educational qualifications, passing a rigorous test, and maintaining required continuing education. Additionally, if you experience a problem, there are formal regulatory complaint procedures. These three professionals are:

  Attorney - These are licensed by each state and in most states, including Florida, you can verify their credentials online. See the Florida Bar site: https://www.floridabar.org/wps/portal/flbar/home/directories/MBR  Florida attorneys are required to complete a minimum of 30 hours of continuing education every 3 years.

  Certified Public Accountant (CPA) - These are also licensed by each state and in most states, again including Florida, you can verify license status online. See the Florida Department of Business and Professional Regulation: https://www.myfloridalicense.com  In Florida, CPAs are required to complete a minimum of 80 hours of continuing education every 2 years.  

Enrolled Agent (EA) - These are regulated by the Internal Revenue Service. Their testing and certification is in relation to U.S. Federal Taxation. They are required to take a minimum of 72 hours of continuing education every 3 years. You can request a verification of EA status by means of an email to the IRS (a response may take up to 3 days). See the web site for more information: https://www.irs.gov/Tax-Professionals/Verify-the-Status-of-an-Enrolled-Agent

 A final caution - There have been instances of individuals posing as an attorney, CPA or EA who are not properly licensed. If you are hiring a professional for your taxes, be sure to verify that they actually are licensed as they claim and in the case of attorneys and CPAs are licensed IN YOUR STATE.

    Kulzick Consulting, PA is a reliable, trusted and professional CPA public accounting firm. Check our web site for more information - https://YourSmallBusinessCPA.com/

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