Saturday, April 20

3 Key Questions You Should Ask Your Tax Advisor At Tax Time

Are you about to meet with your tax advisor to file your taxes? Would you like to get a head start on your paperwork but are unsure what documents you need to have?

More than fifty percent of Americans use a tax preparer to file their taxes. This high percentage is understandable, as having a professional file your taxes mean they can make sense of the tax laws. They can also help save you a lot of time and stress it would take for you to do your own taxes.

If you want to feel prepared for tax time, then you are in the right place! Our guide will consider three questions you should discuss with your tax advisor to prepare ahead of time. Read below so that you are ready to file your taxes before the next tax deadline!

What Information Do You Need From Me?

One thing to ask your tax advisor is what information they need from you. Knowing which items are necessary for filing your taxes will help you stay organized and not waste time.

Therefore, here are a few items your tax advisor might request you bring with you to your appointment:

  • Expense Receipts
  • Income statements
  • Tax deduction records
  • Social security number

Having these critical documents on hand will make filing your taxes easier. It can also help to reduce any tax filing errors and may even lower your tax bill. So get into the habit of setting these important documents aside and keeping them in a safe place.

Do I Qualify for Any Deductions?

Another thing to ask your tax advisor is if you qualify for any deductions. For example, do you have a business, work from home, have children, or own a house? These are all things that might make you eligible for a deduction.

Therefore, keep your tax advisor up to date on any major life events. This will help make it easier for them to advise you on what items are necessary to file your tax returns. And it will help them provide personalized tax advice for your specific needs.

How Can You Help Me With My Taxes?

An additional thing to discuss with your tax advisor is how they can help you with your taxes. You want someone who will answer all of your tax advisor questions and walk you through the filing process. Having a tax advisor who will be by your side to help you file your taxes will wash away any dread you have come tax time.

Now that you know the vital questions to ask your tax advisor, make sure you are working with someone who is experienced. Choosing a tax advisor, like the professionals at The WealthAbility Network, will help you feel confident knowing your taxes are filed the right way, the first time.

You Have the Tools to Prepare For Tax Time!

You never have to dread tax time again! Our guide has considered three important questions to ask your tax advisor before filing your taxes. By following our advice, not only will you get your taxes filed on time, but you will have an advisor you trust to file your taxes every year!

Did you find this article helpful? For more tax-related content, make sure to explore the rest of our blog.