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Tax Advisor Checklist
1. What role will this advisor perform as part of your team?
· Help decide on 2+ business structures and how will they effect each others financial statements.
· Plan E-T-C.
· How to get money out of the corporation.
· Tax savings, pension, other deductions.
· Are you well-versed in all ramifications of corporate liquidation?
· Do you know how to do uniform capitalization calculations?
2. How much experience do you have in delivering the specific results you are seeking?
3. What experience do you have with these specific issues?
· Internet Business
· Corporate Tax Law
· Nevada Corporations
· Real Estate
4. What is the average income and business experience your clientele? (Is this where you want to be?)
5. Do you personally have experience in:
· Rental Real Estate?
· Owning your own business?
· Having your own corporation?
6. Are they at an income/wealth level that is similar to where you want to be?
7. What is your experience and educational background? (CPA or tax attorney
8. What are your CPE (continuing professional education) requirements, and how many CPE hours do you normally take on an annual basis?
9. What material do you use? CCH? Research Institute? BNA? What research do you subscribe to? (If the only research material is a current copy of the Federal Tax Handbook, theyre not a good choice.)
10. How are you compensated (flat fee, product sale, hourly)? Is the first hour free?
· Do they have a vested interest in helping you achieve your desired outcome?
11. Will you give me an estimation of my fees before I leave? What are your billing policies?
12. Do you assume any responsibility? (The highest degree of responsibility will come from the person who signs the income tax return or gives you an opinion letter regarding a plan. These people put their credentials on the line.)
13. If my return is audited, will you represent me, on my behalf, before the IRS? (The answer should be yes. I should not have to attend.)
14. How do you keep in contact with your clients (proactive, reactive)?
· Is their response time comfortable for you?
· Is this someone you could be honest with?
15. Exactly who will be handling my work, you or somebody else? If I have questions do I speak to you or another person?
16. What can you do to help me meet my goals?
17. I am looking for someone to model and to educate me. How would you do this?
18. Does the advisor have an organization that supports achieving your goals (not working by himself)?
19. Do you have any questions for me? (The more questions the better.)