If you are a business owner and want to save money, ourCPA services will surely help you with this task. MyTaxTeam has all the necessary tools and techniques to be your perfect partner regarding payroll services and Bookkeeping Services for Small Businesses. Strategizing and tax compliance are put into the foundations of our services. Additionally, the Dallas-specific tax assists you in enhancing your business. Similarly, you can acquire quarterly, during the tax season, or for the whole year.
We can also help you with your personal taxes. In addition, many of our clients are lawyers and doctors who need assistance with federal tax return needs. From filing status to filing a tax return, we have got what you need.
Different types of tax preparers:
Certified Public Accountant:
A CPA services provider is someone who is licensed by the state to provide bookkeeping and Dallas payroll services to its clients. A certified CPA has to clear the Uniform Certified Public Accountant Examination. It is quite a tough test conducted by the American Institute of Certified Public Accountants. Similarly, more than forty states require that a CPA should clear the ethical exam. After getting a license, the CPA must match the state’s requirements to pursue their education. Moreover, CPAs can provide a different kinds of services like:
- Preparing tax returns.
- Providing auditing services.
- Evaluating financial statements.
- Maintaining financial records.
Bookkeeping services. There are some CPAs who are experts in preparation and planning. In addition, CPAs are also provided with unlimited representation rights by IRS. Hence they are allowed to represent their clients in many conditions like:
Tax audits.
Payment.
Collection issues.
Appeals.
Enrolled agents
The enrolled agent is someone who has great expertise in federal tax matters and is also licensed by IRS. Additionally, IRS also allows the enrolled agents to represent their clients individually or business-wise regarding tax matters in front of the IRS office. In order to become an EA, the individual must clear the special enrollment examination held by IRS. This test covers lots of ground like:
Preparing both individual and business tax returns.
Representing clients.
Many other aspects of being a tax professional.
After the license, EAs must pursue their education. They have to finish 16 hours of education each year for a total of 72 hours over the three years.
Tax Attorney
An attorney is an individual who is licensed by the state to practice law. Many states have made it compulsory factor for attorneys to have a law degree, followed by the state bar association. Similarly, many states require that tax attorneys must continue their additional education in order to be updated with the new laws and variations with existing laws.
Some of the attorneys also have completed a postgraduate law degree, usually called Legum Magister or LLM. It is an additional degree for lawyers who are interested in continuing their studies in a specific area of law like taxation. They can apply their expertise in specific areas like:
- Preparation of tax returns.
- Planning of tax.
- Offering consulting to clients on long-term strategies for minimizing taxes.
Likewise, they can also represent their clients in front of the IRS.
Non-Credentialed Tax preparers:
A Non-Credentialed Tax Preparer is an individual who files taxes without any professional certification or credentials from outside organizations like AICPA, Bar association, or IRS. However, it is mostly conducted by seasonal tax preparers that work in tax stores, followed by IRS Volunteer Income Tax Assistance Program volunteers.
The IRS provides a volunteer program for non-credentialed tax preparers like Annual Filing Season Program. Additionally, individuals who complete their eighteen hours of continued education along with a six-hour refresher course in federal tax law.
Almost ten states have made it compulsory for non-credentialed tax preparers to acquire educational courses before registering with the state as a tax preparer. However, in the other forty states non credentialed tax preparers don’t need to have any additional credentials.
However, for small businesses, managing tax-related tasks can be quite a headache. For instance, if you are a business owner, you have to manage payroll services along with maintaining supply & chain. Additionally, there are also a lot of tasks that one might be handling. In these conditions, you need to have a tax services provider like MyTaxTeam our CPA Firms in Dallas, along with bookkeeping services, will take all of the tax load from your end. At the same time, providing impeccable services so that you can focus on the bigger picture and upscale your business.
