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byAlma Abell
A good Certified Public Accountant (CPA) might cost you more at first, but the investment will eventually pay off, since he or she is meticulous. One does not need to be a genius to input numbers into some type of software. However, your CPA in Yorktown can analyze the figures, risks and situations to offer you tax savings prospects as well as aid you in preparation for the next year -; in other words, he or she becomes your trusted financial advisor.
In order to build a long lasting relationship with your CPA, take the steps explained below and in the process, the cost of hiring this professional will become more affordable.
Laying the Foundation of Your Relationship
If you are comfortable working with a certain CPA, by all means stick with him or her. Working with the same CPA every year enables them to be familiar with your financial situation, and they can spot any discrepancies quickly.
Always be Organized
Most CPAs will charge you by the hour. In the event you have many contributions to deduct, create a spreadsheet where you list all donations along with their respective documentation. This will help lower the bill considerably. Providing your CPA with an enormous box of bank statements tied with a belt around it, will certainly be an expensive way to claim donations you made.
When Making Important Decisions, Consult Your CPA
For example, if you are looking to buy two vehicles in a single year, you decide to purchase a Smart Car and a Toyota hybrid in order to get hybrid tax credit. It is only later that you realize that a Toyota hybrid no longer qualifies for tax credit. Had you consulted your CPA, he or she would have advised you early and provided a complete list of vehicles that still qualify for tax credit.
Never Lie Your CPA
Hoodwinking your CPA is like lying to your physician, it will hurt. In a few cases, clients are embarrassed about sharing information pertaining to some medical expenses or gambling earnings. The information you provide your CPA is confidential and will only assist you in determining how best you can claim such an expense or report such earnings.
If you are looking to ease stress, save some money and work with a professional who understands tax law, consider a CPA in Yorktown like Carmines, Robbins & Company, PLC.