Save Money On Tax Preparation By Avoiding These Accountant Pet Peeves

Its tax time again across America and for most people that means taking time to round up the receipts, W2 forms, and mortgage documents necessary to file with the IRS. It’s estimated that more than half of the filers use an accountant or CPA to prepare their taxes and this meeting can make even the coolest of customers sweat. The Accounting Aisle, an online service that matches local accountants with consumers, asked some of its accountants for their biggest pet peeves and tips on how to save money on this annual ritual. Without exception, accountants and CPAs say that a little preparation will save you time and money on your tax bill. Not Completing Your Tax Planner. Most accounting firms will send out an annual tax preparation booklet designed to answer all of the questions necessary to properly file your taxes. It’s frustrating when a customer sets up a 90 minute appointment and brings an empty planner to the meeting. It’s a waste of everyone’s time — and money. Often they have to reschedule the appointment and charge an extra fee. Shoe Box Clients. Shoe-box clients are the bread and butter of the accounting industry, but accountants often have to take a deep breath when they walk in the door. “Sometimes I think our clients confuse us with a personal organizing service,” says one New York accountant. Most often these clients are referred to a bookkeeper (at an average of $65/hour) to sort and organize before the CPA can begin preparing the tax return. Before your tax appointment, take the time to sort the contents of your shoebox by category. If you have several income documents, paper clip them together. Procrastinators. Inevitably, accounting firms will get calls in early April looking for a tax appointment before the April 15 deadline. Many accountants will turn you away because they are booked solid. Instead, Accounting Aisle recommend making tax preparation appointments in early February. It’ll save you stress, give the preparer ample time to carefully prepare the return, and you might even find a few extra deductions that you wouldn’t find if the accountant is rushed. Bickering. Accountants say there’s nothing worse than a tax preparation appointment set up with a husband and wife who are fighting over finances instead of focusing on their tax issues. Air these grievances at home — not in front of your CPA. Misspellings. Two or more misspellings on a tax document are a red flag to most accountants, and likely to the IRS. If you can’t get the words spelled right, why should they have any confidence in the numbers you are providing. Take the time to use a dictionary if you are a poor speller. Incomplete Data. Accountants can not properly prepare your return without complete data. Delays are expensive, so bring everything with you the first time. Failing to Bring a Check. Most people don’t want the IRS on their tail, so they remember to bring a check to pay for taxes due. However, that’s not always the case for their accountant. Payment for services is expected when the service is rendered Wanting Them to Cheat. The goal of every accountant is to limit your tax burden. They will work to find all the deductions you are entitled. What they won’t do is intentionally lie or cheat. Creative accounting is a quick was to loose certification or end up in jail. No tax return is worth losing your certification.