Unless you are well aware and expert in accounting, it is likely possible that accounts of your company are prepared by internal accounts department or by outsourcing a professional. For the small size and medium size of enterprises, second option is more appealing as employing the permanent and dedicated tax accountant will be expensive and at times, it is unnecessary for small size company. On the other hand, whether you employ accountant for your business or if you outsource a freelancer tax professional, in both ways it is really critical to select the suitable bookkeeper for business. Like, when it is about the annual tax return, that may get prepared by any person but eventually it is the business owner who would be liable in legal matters for any kind of mistake.
You therefore should ensure that you hire a professional and expert tax accountant who has scrupulous eye for every detail and who also has experience in working in similar size of business. The accountant who be likely to work for the small size of companies, might do outstanding job for the small enterprises, however he might not be well capable to handle payroll for 300 employees in big size enterprise and keeping accurate record of numerous monthly sales.
Any person can call them as a tax preparer; however you need a true and expert professional. There are different kinds of accountant so you need to ensure that you know who is suitable and appropriate for your business. While looking for the bookkeeper, you need to find if they carry out the tasks like preparing the tax returns, if it is basically what that you need to do. Some bookkeepers may also be specialised in estate planning and forecasting of financial and though they also may have incredible qualifications, there are more possibility to commit mistakes as compared to less qualified accountant or professional who have prepared several tax returns.
There are many companies who are professionals in tax preparation that provide extremely low rates to prepare the tax return. Though, it is considered best to always avoid such companies where possible and you should hire tax expert accountant, as such companies generally use the seasonal employees or the intern trainees with basic training for completing tax returns in short possible period. Hence, mistakes are very common and quite possible.
However, using the cheap services of tax return service to receive large fine after some times will not save your money, rather will imply more tax issues and penalties. Some accountant also charge additional fees for things like phone calls and messages, so you should ensure that you get completely aware of exact charges and fees to avoid any unpleasant revelations in future.