Are you looking for a professional tax company to work with?
Most businesses don’t have the skills to make the most of various tax incentives and end up paying more than they should. A professional tax company can help to bring your tax bill as low as possible. But not all tax companies will bring these benefits to your business.
We are here to help. Read on for the 7 qualities you should look for in tax firms in Orange County.
1. Has Experience
To ensure your tax accountant can handle your needs, you want one with experience. If they have experience with similar accounts to yours, that’s even more of a bonus.
The best way to find an experienced tax firm is to check out their website. If they don’t have a website, that’s a red flag. They’re definitely not the firm for you.
If they do, check out their “About Us” and testimonial pages to learn more. Any tax firm you consider should have testimonials, or they should be able to give you references if you ask.
Then, if you like what you see, arrange an initial consultation to ask about them in more detail. What do they specialize in? Have they worked on accounts like yours in the past? What specifics can they bring to the table for you?
You need a tax firm that can cater to your specific needs and tailor a package for you. Experience is vital to do this. You want to look for a firm with hands-on background knowledge relevant to your accounts. They also should have the drive and energy to get the best job done.
2. Works in Your Industry
It’s crucial you find a tax firm whose experience and knowledge are relevant to your industry. The best firm will have experience across many different industries. This gives them broader knowledge and understanding they can apply where it fits.
But a must-have is that they’ve worked in your industry before. Tax and accounts regulations vary from sector to sector. An accountant only handling healthcare and medical firms won’t be familiar with real estate accounting. This is a critical question you need to ask before hiring anyone.
For any specialty or niche needs, it’s even more important you find an accountant that can handle that area. Having an accounting firm that is familiar with those niche intricacies will be more beneficial than one who has thousands of clients.
3. Keeps Updated with Industry Changes
Any good accounting firm in your industry will keep abreast of all industry changes. You need your accountant to know all new financial regulations and tax codes applicable to you.
It’s also vital they know the latest industry trends. For example, things like:
- Employment statistics
- New legislation
- Recent acquisitions and mergers
Keeping up to date on information relevant to your specific business accounts is a must. It makes sure you’re always ahead of the curve and complying with everything you need to. There won’t be any nasty surprises.
4. Works with a Range of Business Sizes
You may find a firm that only works with huge, international organizations. Or, they may only have experience with small startups.
Any accounting firm you choose must be able to deal with a range of business sizes. This is important because it means their service can financial regulations as you need it to.
You don’t want the hassle of finding a new accountant if a sudden growth spurt means you outgrow the current one. You’ll want to stick with the same accountant if you branch out into another start-up spin-off venture.
As well, you’ll find it useful if they understand international markets and settings. For example, say you grow to the point where you’re considering a Paris office. You’ll have an edge if your accountant understands the American and European markets.
5. Uses Latest Technology
So, you’ve found a firm with a diverse background but experience in your industry. What will make them even better is if they apply the latest technology to make things more efficient.
It will save you money long-term and reduce the risk of accounting errors. You’ll also be able to stay updated in your industry, and a step ahead of the competition.
A firm that’s keeping their tech up to date will handle it all for you. You don’t need to invest in the programs yourself. You want someone who goes above and beyond to give you streamlined service and do the best job possible.
6. Has Proper Certifications and Continues Education
To provide the best service, an accounting firm must hold the right certifications. They should also encourage and undertake continued education in their field. This is a must-have for any accounting firm you’re looking to hire.
Make sure they have a great network with program and platform administrators. Their staff should be well-trained in how to use the latest technologies too.
They should also undertake any new courses or certifications when available. The more qualified they are, the more knowledge they can bring to the table. Compliance is key to staying above board.
7. Protects Your Confidential Data
Any good business keeps strict controls on access to their order book, filings, and inventory logs. So when you provide this to a tax firm, you need to know that it is secure.
A data breach can be devastating to a business, so a quality tax firm will make sure that this data is always safe. They will take all possible steps to reduce the risk of human error and cyber-attacks.
Finding the Right Tax Firms in Orange County
As you can see, there is a lot to think about when looking for tax firms. Not every firm is the same. In order to bring your tax bill down, you need to choose the right tax firm. Look for a firm that has experience in your industry, and keep on top of legal changes and working practices.
If you are looking for tax firms in Orange County, contact us today at White Nelson Diehl Evans LLP. With nearly a century of experience in business taxation across multiple industry sectors, we are uniquely skilled in helping businesses reduce their tax liability.