As each year ends, Rancho Cucamonga, CA residents and businesses alike begin to consider what they can do to maximize their tax savings, which is not easy in today’s economic climate. The rules for qualifying tax deductions and credits have changed dramatically over the past few years and continue to morph as each year passes. Smart taxpayers know the benefits of hiring a tax preparer who not only stays up-to-date on the changes to current year tax laws while also keeping a finger on the pulse of changes to come in future tax years. Whyte Associates are just the tax professionals you need to help you maximize your tax savings year after year.
Unfortunately, not all tax preparers are equal. There are four different types of paid tax professionals:
The Internal Revenue Service (IRS) has made a push in recent years to ensure people and businesses paying for tax preparation services receive these services from a knowledgeable professional by requiring all paid tax preparers to register and encouraging all registered tax preparers to pass an exam and satisfy a continuing education requirement. However, the amount of continuing education, the difficulty of the exam, and the level of representation, and IRS authority will vary greatly depending on the type of preparer. Enrolled Agents receive the highest credentials available from the U.S. Depart of Treasury and, because of this elite status, are expected to maintain ethical standards and complete 72 hours of continued education every three years. EAs are unrestricted in the types of tax matters they can handle or the taxpayers they may represent. Unlike CPAs or tax attorneys who are only able to represent clients in the IRS offices located in the states in which they are licensed, enrolled agents may represent their clients in any IRS office.
Contact the enrolled agents at Whyte and Associates to set up an appointment to discuss how they can assist you with your tax situation and help you or your business plan for future tax changes.
