Divorce and Taxes

Filing status. Filing status is based on your status as of December 31. If you are divorced under a final decree by the last day of the year, you are considered unmarried for the whole year and you cannot choose Married Filing Jointly as your filing status. If you are still married at the end of the year (your divorce is not yet finalized), then you must file as Married Filing Jointly or Married Filing Separately, or Head of Household, if qualified. You cannot file as Single if you are married.

Joint responsibility. You may be held jointly and individually responsible for any tax, interest, and penalties due on a joint return filed before your divorce. This responsibility may apply even if your divorce decree states that your former spouse will be responsible for any amounts due on previously filed joint returns.

Name change. If you changed your names because of divorce, be sure to report the change to your local Social Security Administration office before filing your tax return. The name you enter on your tax return must be the same as what is on your Social Security card.

Exemptions. If you obtained a final decree of divorce or separate maintenance during the year, you cannot take your former spouse’s exemption. This rule applies even if you provided all of your former spouse’s support.

Dependents. In most cases, a child of divorced or separated parents is the qualifying child of the custodial parent (the parent with whom the child resides for the greater number of nights during the year). If the parents divorced or separated during the year and a child lived with both parents before the separation, the custodial parent is the one with whom the child lived for the greater number of nights during the rest of the year.

Estimated tax. If you made joint estimated tax payments for the current year and you were divorced during the year, either you or your former spouse can claim all of the joint payments, or you each can claim part of them. If you cannot agree on how to divide the payments, you must divide them in proportion to each spouse’s individual tax as shown on your separate returns for the current year.

Property Settlements and Transfers

If you transfer your home to your spouse or you transfer it to your former spouse incident to your divorce, you will not recognize gain or loss. This is true even if you receive cash, release of marital rights, assumption of liabilities, or other consideration for the home.

Incident to divorce. 

Transfers are incident to divorce if they are:

Made within one year after the date the marriage ends, or

Related to the ending of the marriage—made under an original or modified divorce or separation instrument within six years after the date the marriage ends. Transfers that do not meet these conditions are presumed not to be related to the ending of the marriage.

Sale of residence. For purposes of the sale of home exclusion of gain, an owner is treated as using property as his or her principal residence during any period that use is granted to a spouse or former spouse under a divorce or separation instrument.

Deducting Costs of Divorce

Generally, attorneys’ fees and other expenses paid in connection with divorce are not deductible. 

Exceptions:

Fees paid to determine tax or for tax advice on federal, state, or local taxes of any type are deductible.

Fees paid to get or collect alimony are deductible.

Fees paid for a spouse or former spouse are not deductible but may qualify as alimony.

Alimony

Alimony is a payment to or for a spouse or former spouse under a divorce or separation instrument. It does not include voluntary payments not made under the instrument. Alimony is deductible by the payer and must be included in the recipient’s income.

Designating payments as “not alimony.” Spouses can agree not to treat otherwise qualifying payments as alimony. A provision clearly instructing that the payment is not to be treated as alimony must be included in a divorce or separation instrument or in a written statement signed by both spouses that refers to a previous written separation agreement. If spouses are subject to temporary support orders, the designation must be in an order. A copy of the written instrument must be attached to the recipient’s return.

Payments to third parties. Payments to third parties under a divorce or separation instrument can qualify as alimony. Payments are treated as received by the spouse and then paid to the third party. The recipient can claim deductions for items paid with the alimony.

Home occupied by spouse. If, under the terms of a divorce or separation instrument, one spouse occupies a home that belongs to the other, the owner’s payments for mortgage, real estate tax, insurance, and repairs are not alimony. Payments for utilities may be alimony. Rent-free use of property is not alimony.

Child Support

Child support is not deductible by the payer or taxable to the recipient. Payments specifically designated as child support in a divorce or separation instrument are not alimony.

Payments not specifically designated “child support” are treated as child support if they are reduced either:

•    On the happening of a contingency relating to a child (reaching a specific age or income level, leaving school, marrying, becoming employed, dying, leaving the household, etc.).

•    At a time that can be clearly associated with such a contingency.

Underpayment of alimony or child support. If alimony and child support are both required under a divorce or separation instrument, and payments are less than the total required, payments apply first to child support and then to alimony.

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Death of a Taxpayer Part 2

Decedent’s Tax Returns

The personal representative is responsible for the following returns when required.

Form 1040, Final return for year of death (gross income of a decedent from January 1 until the date of death is reported on the decedent’s final income tax return).   

-Form 1041, Income tax returns for the probate estate (required if income greater than $600 is received after death by the decedent’s estate).

-Form 706, Estate tax return (required if decedent’s estate exceeds the estate tax exclusion ($5,250,000 in 2013) or if portability election is made.

-Form 709, Gift tax for year of death (required if the decedent gave more than the annual exclusion ($14,000 for 2013) to any one person in the year of death or failed to file any prior year gift tax returns).

-Returns not filed by decedent for prior years—Form 1040, Form 1040X, Form 709.

-State income tax and estate tax returns. Some states do not have an estate tax, but several states have annual estate tax exclusions that are significantly less than the federal exclusion.

A personal representative may be personally liable for unpaid tax if he or she distributed assets, the estate is insolvent as a result, and the personal representative had notice of the tax claim.

Application for Employer Identification Number (EIN)

An executor should obtain an EIN for the probate estate as soon as possible. The identification number must be included on estate returns, statements, and other documents. The executor can obtain an EIN immediately by phone at 800-829-4933 or at www.irs.gov by searching “EIN online.”

Note: The processing time for an EIN application by mail is four weeks.

Notice of Fiduciary Relationship

The personal representative must notify the IRS of the fiduciary relationship. Form 56 can be used for this purpose. File separate forms for the decedent and estate. Form 56 can also be used to notify the IRS of a change in fiduciary or termination of fiduciary relationship.

Prompt Assessment

Form 4810 can be filed to shorten the statute of limitations for tax returns from three years to 18 months. File Form 4810 separately after the returns are filed. Prompt assessment can be requested for Forms 1041 and Form 1040, including returns filed by the decedent. Prompt assessment cannot be requested for federal estate tax.

Discharge From Personal Liability

Personal representatives can request discharge from personal liability for estate, gift, and income tax after returns are filed. The personal representative is discharged from personal liability nine months after receipt of the request by the IRS, unless notified of unpaid tax.

Fees

All personal representatives must include in their gross income any fees paid to them from an estate. Generally, a taxpayer is not in the trade or business of being an executor and will report these fees on Form 1040, line 21.

Income in the Year of Death

Report income actually or constructively received by the decedent before death on the final Form 1040. Report income received after death on the return of the recipient.

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Death of a Taxpayer

When a taxpayer dies, there are certain returns that still need to be filed, a responsibility that falls onto the personal representative.

Personal Representative      

Under state law, a personal representative is the person appointed by a court to administer an estate. The term includes both executors (appointed when decedent has a will) and administrators (appointed in the absence of a will). A personal representative nominated in a will has no authority over estate assets unless appointed by a court.

Duties of Personal Representative

Duties include collecting all of the decedent’s property, paying any creditors, and distributing assets to beneficiaries. In addition, the representative is responsible for filing various tax returns and seeing that the taxes owed are properly paid.

No Court-Appointed Representative

When there is no probate and no appointed representative, the IRS will allow a “person charged with property of the decedent” to file the decedent’s income tax returns and claim refunds. IRS written guidance does not specify who this person should be. If there is a surviving spouse, he or she usually files a joint final Form 1040 and any other required returns. If there is no surviving spouse, the person who files is commonly: • The trustee of the decedent’s revocable trust,

The personal representative nominated in the will who would have been appointed if probate was required, or

A beneficiary receiving nonprobate assets who under-takes the work.

The IRS uses the term “personal representative” to refer to anyone filing for a decedent, whether or not court appointed.

Visit us on Thursday, October 2 for Part 2 of this series.

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Preparing for an Audit

So, you’ve recently received notice that you’ve been selected for a tax audit. Lucky you! In all seriousness, though, once you have been chosen for an audit, there’s nothing you can do to change that fact. All you can do from that point forward is to try and prepare for the audit.

First things first, you need to know what kind of audit you’re facing. Possibilities include:

l  Correspondence Audits: requested when the IRS simply requires more information/proof related to your tax return

l  Taxpayer Compliance Measurement Program Audit: The most serious type of audit in which every part of your tax return must be backed up.

l  Office Audit: An audit conducted at a local tax office. Specific information will be requested ahead of time.

l  Field Audit: An audit conducted at your home or office. Specific information may or may not be requested ahead of time.

Once you know what type of audit you’re facing, tax audit preparation is a lot easier. Your accountant will know, based on the type of audit, what documents you need and how you need to get prepared. So, find out from the IRS what type of audit you’re facing and then work with an accountant to get ready. As long as you’ve been reasonably honest and accurate with your tax dealings, you have nothing to worry about!

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Avoiding Common Payroll Errors

Payroll processing is no easy task. If it were, you wouldn’t have to hire someone to do it for you. Unfortunately, however, even the very best professionals can sometimes make mistakes. As such, it’s wise for you to be aware of common payroll errors and to know how to spot and correct them.

One of the most major mistakes is simply classifying workers incorrectly. Exempt and non-exempt workers are eligible for very different things and putting even one employer in the wrong category can lead to unending hassle. Before you hand your list of employees over to your payroll processing team, check and double check each worker’s status. Then, before you send any paperwork out, check it again. You can never be too careful!

Also, keep in mind that you can’t just toss out old records. Even after someone stops working for you, federal law requires that you keep all of their records on-hand for at least three years. So, develop a good filing system for keeping older records and organize it carefully.

If you can follow these tips and be careful in all matters related to payroll processing and hire only the most experienced professionals to handle this all-important job, you should enjoy smooth sailing when it comes to your payroll.

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Did You Know?

IRS resources decline

Fiscal year 2014 funding for the IRS was $11.29 billion, an $850 million decrease from 2010 funding. Also, from 2010 to 2014, the IRS lost 10,000 full time employees. This decrease in

resources will affect the IRS’s ability to maintain previous levels of taxpayer services and taxpayer enforcement, according to IRS Commissioner John Koskinen.

2015 HSA limits released

The IRS has released the inflation adjusted limits for deductible contributions to health savings accounts (HSAs) for 2015. For family coverage, the contribution limit will be $6,650. For individual coverage, the limit will be $3,350. Individuals who are 55 or older are allowed to

contribute an additional $1,000. HSAs let taxpayers with high-deductible health insurance plans set aside pretax contributions that can be withdrawn tax-free to pay unreimbursed medical expenses.

Facts on amended returns

Taxpayers are allowed to file amended returns if they find they have omitted or misreported an item on the originally filed return. The IRS wants taxpayers to know the following facts about

amending returns:

• Amended returns can’t be e-filed; they must be filed on paper.

• An amended return should be filed for errors in filing status, income, deductions, or credits.

• Don’t file an amended return for math errors; the IRS will correct these and notify you.

• Amended returns take up to 12 weeks to process.

• Returns can be amended for up to three years from the original filing.

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More Companies Moving Offshore

A recent report revealed that the taxes facing American corporations are higher than the taxes anywhere else in the world! Having to pay all of those corporate taxes can make it difficult for any business to expand, to hire new employees, or to pay its employees what they’re worth, leading to reduced productivity and an increased failure rate among new businesses.  

In an effort to escape high American taxes, many companies have made the decision to move their main offices to offshore locations. Europe is among the most popular “offshore” destinations, and, when the move is done right, businesses find that their taxes are greatly reduced.

Of course, there are definitely cons to going offshore, and, if you don’t go about it the right way, your move could even be illegal. As such, you’ll definitely want to speak with a skilled corporate tax accountant before making any final decisions about going offshore.

Whether this particular solution works for you or not, the right accountant can find a way to help you cut back on taxes and keep business booming, so make sure you’ve got one working for you.

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Six Tips for People Who Owe Taxes

While most people get a refund from the IRS when they file their taxes, some do not. If you owe federal taxes, the IRS has several ways for you to pay. Here are six tips for people who owe taxes:

1. Pay your tax bill.  If you get a bill from the IRS, you’ll save money by paying it as soon as you can. If you can’t pay it in full, you should pay as much as you can. That will reduce the interest and penalties charged for late payment. You should think about using a credit card or getting a loan to pay the amount you owe. 

2. Use IRS Direct Pay.  The best way to pay your taxes is with the IRS Direct Pay tool. It’s the safe, easy and free way to pay from your checking or savings account. The tool walks you through five simple steps to pay your tax in one online session. Just click on the ‘Pay Your Tax Bill’ icon on the IRS home page.

3. Get a short-term extension to pay.  You may qualify for extra time to pay your taxes if you can pay in full in 120 days or less. You can apply online at IRS.gov. If you received a bill from the IRS you can also call the phone number listed on it. If you don’t have a bill, call 800-829-1040 for help. There is usually no set-up fee for a short-term extension.

4. Apply for a monthly payment plan.  If you owe $50,000 or less and need more time to pay, you can apply for an Online Payment Agreement on IRS.gov. A direct debit payment plan is your best option. This plan is the lower-cost, hassle-free way to pay. The set-up fee is less than other plans. There are no reminders, no missed payments and no checks to write and mail. You can also use Form 9465, Installment Agreement Request, to apply. For more about payment plan options visit IRS.gov.

5. Consider an Offer in Compromise.  An Offer in Compromise lets you settle your tax debt for less than the full amount that you owe. An OIC may be an option if you can’t pay your tax in full. It may also apply if full payment will cause a financial hardship. You can use the OIC Pre-Qualifier tool to see if you qualify. It will also tell you what a reasonable offer might be.

6. Change your withholding or estimated tax.  You may be able to avoid owing the IRS in the future by having more taxes withheld from your pay. Do this by filing a new Form W-4, Employee’s Withholding Allowance Certificate, with your employer. The IRSWithholding Calculator on IRS.gov can help you fill out a new W-4. If you have income that’s not subject to withholding you may need to make estimated taxpayments. See Form 1040-ES, Estimated Tax for Individuals for more on this topic.

To find out more see Publication 594, The IRS Collection Process. You can get this booklet on IRS.gov. You may also call 800-TAX-FORM to get it by mail.

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How to Find the Right Bookkeeper

Whether you own a small business or a major corporation, you are going to need a bookkeeper to keep your records and your finances straight. While you might think that all you have to do is find someone with experience at bookkeeping, it’s actually a little more complicated than that. Finding the right bookkeeper takes work and know-how when it comes to what to look for.

For starters, you definitely want to hire someone who is a good communicator. You need a bookkeeper who can speak to you in a way you can understand without talking down to you. Likewise, the bookkeeper you hire should be able to understand your needs and to meet them with ease.

You’ll also need a bookkeeper who has all of the necessary skills to do the job. You want to hire one person to take care of all of your financial and record-keeping needs, so it makes sense that you would want to hire someone who can handle a wide range of tasks. At a bare minimum, your bookkeeper should be able to:

l  Reconcile bank statements                            

l  Send and track invoices

l  Take payments

l  Process payroll

l  Manage accounts receivable and accounts payable listings

If you can keep these things in mind as you search for a bookkeeper and commit yourself to being selective and discerning, there’s no reason you can’t hire a great bookkeeper.

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Don’t be Victimized by contacts from fake IRS agents

A recent uptick in scam IRS e - mail and phone calls has prompted urgent government warnings

to taxpayers. But people are finding that recognizing a bogus IRS contact is tougher than they think. The tactics used by criminals to steal your identity vary widely and are surprisingly sophisticated. A common recent scam is an official-looking e - mail purporting to be from the IRS requesting an immediate update to your e-file account. Anyone who clicks on the link will be taken through a series of requests for personal information that might be used to commit fraud in your name. And if you happen to divulge bank account information, they may try to steal directly from you as well. 

So what is the best way to protect yourself against such a scheme? First, recognize what is NOT proof of a genuine IRS contact. An IRS logo on an e - mail or letter, while adding the look of authenticity, could have been lifted from the IRS website. An e - mail from an address containing the letters “IRS” is also not a reliable sign. Scammers can create e - mail addresses that look deceptively similar to IRS.gov (the official IRS site). Surprisingly, even a scammer’s possession of the last four digits of your social security number is not proof. This, too, can be obtained by a thief. 

Scammers will also try to appear genuine by following up an e - mail with a phone call, or vice versa. They often create a sense of urgency and threaten all sorts of legal and punitive actions if you don’t respond immediately. Here is what you should do in response to any IRS contact. If the first contact is by letter, forward a copy to your tax preparer to determine if it is legitimate. If the initial contact is by phone, do not provide any personal data over the phone. The call is most likely not from the IRS. And if the first contact is by e - mail, do not respond to it at all, and do not click on any attached links. The IRS does not initiate contact by e - mail – ever. Instead, send it on to the IRS at phishing@irs.gov to help prevent tax scams from spreading.

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Accounting: A Profitable Career Choice

Accounting Today recently revealed that accounting and related careers are some of the most profitable jobs of today.

Accounting, along with tax preparation, payroll services,and bookkeeping reportedly had a net profit margin of around 19.80% last year, beating out the legal services industry, the oil and gas extraction industry, and the commercial and industrial machinery industry.  

That’s pretty impressive, but you may be wondering what it has to do with you. Well, when you really think about it, a lot. Truly skilled people tend to go into fields where they can make good money and be financially secure. And, when those people are financially secure, they tend to work harder and do better at their jobs.

Thus, you can look at the profitability of accounting as proof that there are many good accountants out there. In fact, you don’t have to look far to find a great accounting firm in Naperville and the surrounding areas.

With so many skilled accountants working in the industry today and many more looking to join the workforce, there’s absolutely no excuse not to have an accountant working for you.

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The IRS and Phone Calls

Over the past few days,
we have received quite a few calls
from our clients indicating they have
received a phone call from someone
stating they are from the IRS
and that they have a tax issue.
Please review this noticethat the IRS issued regarding phone scams
and what to do if you receive one of these phone calls.
If after reviewing you still have questions,
do not hesitate to contact
our office at (630) 548-9600
to investigate further on your behalf.

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Audits and Representation

Representation

Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Although not officially stated, it is the job of an IRS Revenue Agents to conduct an audit with an eye toward finding additional tax owed. With so many gray areas in tax law, and considering the tax code’s complexity, an individual who chooses to go it alone is a sitting duck. Without extensive tax education and experience, the examiner can (and sometimes will) say anything to find additional tax due on the return. Without the necessary knowledge, the taxpayer is powerless to refute the agent’s rationale.

Selection of Returns for Examination  

Search for Unreported Income

The IRS performs matching functions to reconcile information reported on Forms 1099 and W-2 with information reported on the taxpayer’s return. If income reported by the taxpayer does not meet or exceed amounts reported to the IRS, the taxpayer will receive either a bill for tax on the difference or an audit notice.

Worker Reclassification Efforts

The IRS conducts joint employment audits with state tax agencies to determine whether workers classified as independent contractors are in fact employees. One initiative looks at employers who issue both Forms 1099 and W-2 to the same employee in the same year, while a second examines employers issuing more than five 1099-MISC forms exceeding $25,000 each to contractors with no other source of income.

Schedule C, Profit or Loss From Business

Issues associated with sole proprietorships are common audit triggers. The IRS has several approaches to achieve an increase in income tax, as well as the assessment of self-employment tax.

•    Unreported income. There is a relatively high potential for unreported income from cash transactions with sole proprietorships. The IRS will examine the taxpayer’s bank records to detect deposits that are unaccounted for, compare revenue and expenses of similar businesses, and in some cases will perform a “lifestyle” audit to reconstruct income based on changes in the sole proprietor’s net worth based on valuation of assets.

•    Losses. Significant losses reported on Schedule C, or losses continuing over two or more years, may increase the chance of audit. If the IRS is successful in reclassifying an activity as a hobby instead of a forprofit business, losses will be disallowed.

•Bartering. The fair market value of products and services received through bartering can be considered business income if the products or services rendered are associated   with the sole proprietorship. If the sole proprietor trades through a barter exchange program, the program will issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions.

Audit Procedures

Soft Notice

The IRS uses the Automated Underreporter (AUR) Soft Notice to encourage taxpayers to self-correct income reporting with minimal burden and resources. Notice CP 2057 is issued to certain taxpayers with apparent underreported income. The form informs the taxpayer that there appears to be a discrepancy with the income types listed but does not provide them with any type of calculations. It instructs the taxpayer to file a Form 1040X to correct their return if the information shown on the notice is correct. The IRS does not directly follow up these notices but taxpayers that repeat their behavior will be identified in the following tax year.

Examination by Mail

The taxpayer receives Notice CP 2000 from the IRS disclosing proposed changes. The taxpayer typically has 30 days to respond and has three options to the IRS proposals.

•  To agree with all the proposals.

•  To partially agree with the changes.

•  To dispute all the changes proposed by the IRS.

The taxpayer is allowed to sign an authorization that enables another party to represent him or her in connection with the Notice CP 2000. The authorization is part of Notice CP 2000, and a separate power of attorney is not required.

Field Audit

The revenue agent will send a letter to the taxpayer requesting that the taxpayer phone the agent. At that time, the date, location, and agenda for the first meeting will be set. The taxpayer has the right to request that the examination take place at a reasonable time and place that is convenient for both the taxpayer and the IRS.

Audit Strategy

The best way to prepare for an audit is to put oneself into the auditor’s shoes. Take the perspective that you are looking for anything possible to increase the tax liability on the return. This is an area where a qualified tax preparer can be invaluable.

Pose tough questions and “throw out” any questionable deductions. Make sure any issue raised during an audit is something that has already been considered. If the pre-audit function is performed properly, the actual audit will be more comfortable, and you will be prepared for any negative adjustments.

Audit Video

The IRS has created a video web page to assist taxpayers preparing for a small business audit. Go to the IRS website at www.irsvideos.gov/audit.

Requesting a Different Auditor

A taxpayer or taxpayer’s representative has the right to request a different auditor if the current one seems uncooperative, too busy, or too inexperienced to properly consider the issues under examination. The request should be made to the auditor’s supervisor by phone or in writing and should include a detailed explanation of the reasons for the request.

Take It Seriously

Any comments made to an IRS employee that could be interpreted as a threat against the employee will be taken seriously and fully investigated. Advise clients not to joke around with IRS employees during an examination.

Repeat Examinations

If a return was examined for the same items in either of the two previous years, and no change was proposed to the tax liability, contact the IRS immediately and the examination will likely be discontinued. This policy is in accordance with IRC section 7605(b), which states that no taxpayer shall be subjected to “unnecessary examinations.”

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Taxes and the Home Office Rules

Are you part of the growing number of self-employed entrepreneurs or telecommuting employees who are working from home? If so, a home office deduction could provide a valuable tax benefit. Here’s a brief overview of the basic rules for deducting a home office.  

 What’s required?

The first requirement is that you have a part of your home that you use regularly and exclusively for business purposes. It doesn’t have to be a separate room, but it must be a clearly defined area. The exclusive use is very important. The area must be reserved only for business use; if you also use it for personal activities, it won’t qualify. The only exceptions are if you store business samples or inventory at home, or if you run a home day - care business. The second requirement is that your home office must be one of the following:

• Your principal place of business. That’s the place where you conduct most of the management and administrative activities of running your business.

• A place where you regularly meet customers, clients, or patients. Even if you run the business from another location, a home office can qualify if you regularly use it for meeting with customers, clients, or patients.

• A separate building, not connected to your home. A freestanding garage or studio will qualify if it is used in your business.

 What’s deductible?

If you have an area of your home that qualifies, you can generally deduct a percentage of your total costs, including mortgage interest, insurance, taxes, and utilities. The percentage is calculated as the area used for business divided by your home’s total area. For the self-employed, home office deductions are limited to the net income of the business. An employee’s home office must be for the convenience of the employer, and this should be documented in writing. Deductions for employees, other than mortgage interest and taxes, are available only to the extent they exceed 2% of adjusted gross income. The rules on home offices are complex, with many gray areas. Contact our office if you need more information or assistance.

Home Office Deduction - New simplified deduction

The IRS permits taxpayers to use a simplified method for deducting the use of a portion of their home for business. Taxpayers who qualify may use the new optional deduction calculated at $5 a square foot for up to 300 square feet of an area in the home that is used regularly and exclusively for business. The deduction is capped at $1,500 a year.

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Tips for Hiring a CPA

So, you’re planning on hiring a CPA. Whether you just need someone to lend a little tax help, someone to set up your business payroll, or anything in between, it’s important that you are selective about whom you hire. Not only do you need someone you can trust, but you also need someone who knows the ins and outs of financial law and who will make your money work for you.

 One thing you should always ask any potential accountant is if he or she has a preparer tax identification number. This number is given to true CPAs by the federal government. It identifies the preparer as someone who has been trained and certified to prepare taxes professionally. Don’t trust any “accountant” who doesn’t have one of these numbers!

You should also quiz potential accountants on their working histories, their educational training, and other qualifications. Try to choose someone who has been working in the industry for at least a few years and who has been through rigorous training and schooling related to the field.

You deserve to know your money is safe, and the best way to get that peace of mind is to hire only the best CPA around.

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