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Will your tax preparer save you money or make costly mistakes? Look for these red flags.

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After your accountant prepares your tax returns, you look them over, sign your name and sigh. You can't help but wonder whether something's amiss. Did you pay too much (or too little)? Did you forget anything?
The article from MSN Money discusses the importance of choosing a competent tax preparer to avoid costly mistakes and ensure you receive the maximum refund or pay the least amount of tax legally possible. It highlights several red flags to watch out for when selecting a tax professional: lack of proper credentials or certification, such as not being an Enrolled Agent (EA), Certified Public Accountant (CPA), or a tax attorney; charging fees based on the size of your refund, which can lead to unethical practices; refusal to sign the return, which is illegal; and not providing clear, upfront pricing or being evasive about fees. Additionally, the article warns against preparers who do not ask for all necessary documentation or who promise unusually large refunds without a thorough review of your financial situation. It emphasizes the need for due diligence in selecting a preparer who is transparent, qualified, and has a good reputation to safeguard against errors, audits, or penalties.

Read the Full MarketWatch Article at:
[ https://www.msn.com/en-us/money/personalfinance/will-your-tax-preparer-save-you-money-or-make-costly-mistakes-look-for-these-red-flags/ar-AA1zoqiD ]