Filing your tax return can be intimidating, after all, this isn’t something you want to get wrong.
While many people can probably handle doing their taxes with the right preparation, there are some circumstances where it might make sense to hire a tax professional. Maybe your tax situation is complicated because you have a variety of income streams or run a small business. Or maybe you simply want the assistance.
What to look for in a tax pro
Check credentials: There are different types of tax professionals, including certified public accountants (CPAs), enrolled agents and tax attorneys. Paid tax return preparers need an IRS Preparer Tax Identification Number. You can check credentials with the IRS. The person working on your taxes will know a lot of your personal and financial information, so hire someone trustworthy.
Ask about payment: Costs vary, so be sure to ask if you’re paying by the hour or a flat fee. The IRS suggests avoiding anyone who promises bigger refund checks or bases fees on a percentage of the refund.
Don’t forget: Always review a return before you sign it. And don’t be afraid to ask questions to make sure you understand what’s on the return.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.