|
|||
|---|---|---|---|
One of the basic choices you’ll face is whether to complete the return yourself or use a clergy tax professional.
Most clergy find it more beneficial to use a clergy tax professional to completed their returns which includes year-round guidance. Online software programs or individuals that do not specialize in clergy tax law can not help you identify deductions you might not have thought of, or prompt you to make different tax-related decisions today and in future years. Plus, a clergy tax professional will be much more helpful to you if the IRS comes calling with questions.
The American Institute of Certified Public Accountants encourages the more than 81 million taxpayers who hire professional assistance each year to make an appointment early in the year with their tax preparer before their schedules fill up.
The federal tax code has more than one million words, is several thousand pages long, and in 2010 alone, there were 500 changes to the code, or more than one per day. More than ever, Americans need the counsel of trusted tax professionals to decipher the complex tax code and apply it to their unique financial situations.
"The tax code is like a thousand-page instruction manual that's always changing. Reading, interpreting and applying this technical document is no easy feat for the untrained eye. In this tough economic climate, taxpayers can't afford to leave money on the table. So, they should only work with a tax advisor who's up-to-date on the latest clergy tax law changes."
If you pay someone to prepare your tax return, we suggest you choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. So, it is important to choose carefully when hiring an individual or firm to prepare your return. Most return preparers are professional, honest and provide excellent service to their clients.
Here are a few points to keep in mind when choosing the right clergy tax professional to prepare your return:
Ask about experience.
- Inquire about the tax preparer's years of experience and continuing education. Does the preparer have the tax knowledge to accurately represent your interests? Many Americans don't realize how important up-to-date training is when selecting a clergy tax advisor. A recent survey from The Tax Institute found 76 percent of participants failed to list "knowledge of current clergy tax laws" as an important trait when picking a tax professional.
- For 31 years, more clergy have trusted Clergy Financial Resources than any other service to help them save money at tax time. Our clergy tax professionals are required to attend continuing professional education each year to stay current with regulatory and legal changes. In addition, we adhere to strict ethical standards.
Know their area(s) of expertise.
- We have an unparalleled tax expertise on the complex issues associated with church payroll and clergy compensation. A sick patient wouldn't see an orthopedic doctor for a head cold, and clergy shouldn't use a tax preparer who's not an expert in clergy tax law.
- Clergy Financial Resources is a national accounting and finance organization only for clergy specializing in clergy tax law in all 50 states.
Protect sensitive data.
- Tax professionals review earnings statements, investment records, Social Security Numbers and other private information. Make sure you trust the tax preparer to review and protect your confidential data.
- For current and former clients, we do not disclose any nonpublic personal information obtained in the course of our practice except as required or permitted by law. Permitted disclosures include, for instance, providing information to our employees, and in limited situations, to unrelated third parties who need to know that information to assist us in providing services to you. In all such situations, we stress the confidential nature of information being shared.
- Clergy Financial Resources' privacy policy.
Check on the preparer’s history.
- Check to see if the preparer has a questionable history with the Better Business Bureau and check for any disciplinary actions and licensure status through the state boards of accountancy for certified public accountants; the state bar associations for attorneys; and the IRS Office of Professional Responsibility for enrolled agents.
Find out about their service fees.
Avoid preparers who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers.
-
There are no fee schedules common to this profession. Fees are based on time required to perform services, the type of services required, and the level of expertise and the complexity of the work. Different types of services command different rates because of the expertise level of the people who perform them. We can always provide a more accurate estimate after further review of your tax returns. Cost is always an important factor to consider in addition to the value of the service.
-
Get a free review or preparation estimate. Clergy Financial Resources offers a "Free Clergy Tax Review" program in which we will review up to the past three years of returns with no cost. This will provide you with greater peace of mind and if we find any errors or even a refund, you can always file an amended return.
-
You already know you should run from anything that looks like a refund anticipation loan. These "deals" give you instant access to your refund, but at a cost that can equal annualized interest rates well above 100 percent. Have the IRS direct-deposit your refund into your checking account, file electronically and it should show up in 3 weeks or less.
-
Most clergy do not have the tax knowledge or time they need to learn the complexity of clergy tax law. Online tax software won’t provide tax planning or represent you during an audit. We just finished a return on a new client who did his own and thought he owed $100; he came to Clergy Financial Resources to have the return reviewed and with our calculation he received a $2000 refund. Turbotax and other online tax software programs are only as good as the taxpayers knowledge.
Make sure the tax preparer is accessible.
- While taxes are typically prepared January - April, the IRS corresponds with taxpayers throughout the year. So, it's important to select a tax company that's available after April 15th. Clergy Financial Resources is an accounting organization serving churches and clergy in 50 states.
- We have a very strong commitment to the religious community, and an established reputation for quality products and year-around services specializing in fully computerized federal and state tax preparation of individual returns.
Never sign a blank return.
- Avoid tax preparers that ask you to sign a blank tax form.
Only claim what's legal.
- Avoid tax preparers who say they can obtain larger-than-average refunds. Refund estimates should be based on deductions and credits taxpayers are legally permitted to claim.
- Regardless of who prepares the return, the taxpayer is legally responsible for the information on the return. Researching the best clergy tax professional now can prevent significant financial and legal harm later.
What’s the bottom line? Perhaps the most important decision in choosing tax-preparation help is fitting the service to your needs. Depending on your situation, free advice can be a tremendous bargain — or it could be the most costly mistake you’ve ever made. Know your tax situation and get appropriate help.
At Clgy Financial Resources, we'll give your taxes the personal, confidential, professional attention they deserve. Try us and see. er
No matter where you reside, we are available to serve you.
Satisfaction Guaranteed: If for any reason you are not satisfied with our service, we will provide a refund. We pledge to provide excellent products and services or your money back.
