It is difficult to prepare your own taxes – especially when taxes actually cause you a lot of problems. For someone who does not really specialize in taxes, tax preparation is the most difficult thing to do. Not many business people who run their companies or small businesses know about taxes as well, so they hire their own tax accountants to handle their taxes. This is the only reliable and easy solution to tax preparation problems. There are three main types of tax professionals who can safely help with tax preparation problems. These are the Certified Public Accountants (CPAs), Enrolled Agents (EAs) and tax attorneys. Each of them has different responsibilities and areas of specialization. So you can pick and choose who can actually help you. Tax Agent in Craigieburn
CPAs are people who have taken a CPA exam to get their license and title. They deal mainly with numbers – technical accounting and auditing. They also help clients decide how to spend and invest their personal finances. Other specialties include personal financial planning, fraud prevention and forensics, information technology and business valuation.
EA status is the highest award given by the IRS. They are the only individuals who have the privilege of representing their clients before the Internal Revenue Service (IRS). They have earned this privilege by passing a three-part comprehensive IRS test that covers individual and business tax returns, or by passing as former IRS employees. In addition, those who have earned this elite status must adhere to ethical standards and complete the required 72 hours of continuing education courses every three years.
Finally, tax attorneys. They specialize in civil, criminal, and appellate tax litigation at the local and state levels. They represent their clients in courtroom cases. In addition, they are able to conduct proceedings related to accounting and become familiar with the complicated and ever-evolving tax laws.
They can specialize in a variety of fields, but they all have full professional privileges. Moreover, they are not limited to which taxpayers they choose. They will help you find strategies and solutions to deal with your taxes. All you need to do is trust your agent and provide the required information. However, there are also people who pose as real agents. It is best to contact the ATO or check the online list of CPAs and EAs so that you know whether the agent you want to hire is genuine or not. Accounting Consulting Firms in Australia