Whether you are an individual, a small business proprietor or the owner of a large corporation, you probably have had at least one meeting with a tax accountant. S/he is there to make sure every aspect of the tax preparation process is attended to. Below is a brief look at his/her responsibilities.
Responsibilities
The tax preparation process is not a simple one. It is the reason why someone hires a tax accountant. In this role, the accountant has many responsibilities including the following:
• Calculation of tax payments
• Estimation of such aspects of tax returns as deductibles, liabilities, and expenses
• Collection of data including expense documents and income statements
• Preparation of both quarterly and annual reports
• Providing informed advice on tax strategies
• Making certain each tax return is in complete compliance with government legislation
In addition, a tax accountant must be able to answer all questions relating to taxation and finances. This may require researching new trends every tax year and, most certainly, demands the accountant keep current with the latest government regulations on the subject.
Your Tax Preparer/Accountant
When it comes time to file your taxes, it is necessary to have an expert in the field. A tax accountant specializes in tax preparation. S/he is there to ensure the accuracy of diverse tax forms; to make certain everything is in compliance and to provide information concerning potential fees and penalties. From managing communication between all the interested parties to filing the returns, a tax accountant proves their worth every time.
