Choosing the right tax accountant can have a significant impact on your individual or business’s financial health. A good tax accountant does more than just crunch numbers and file your taxes—they act as a strategic partner who helps you navigate the complexities of the tax code, save money, and plan for the future.
So, what sets a good tax accountant apart from the rest? Here are some key qualities to look for:
1. Proactive, Not Reactive
Most accountants take a reactive approach—they review your financial documents once a year, calculate your tax liability, and tell you what you owe. By then, it’s too late to make any meaningful changes to reduce your tax bill.
A good tax accountant is proactive. They work with you throughout the year to identify opportunities for tax savings and help you make informed decisions before it’s time to file. This forward-thinking approach ensures you’re always prepared and never caught off guard by large, unexpected tax bills.
2. Strategic Planning
Taxes shouldn’t be an afterthought—they should be an integral part of your financial strategy. A good tax accountant understands this and helps you incorporate tax planning into your overall individual or business goals.
For example, if you’re experiencing significant growth or making major purchases, they’ll help you understand how these changes impact your tax liability and recommend strategies to minimize costs. Whether it’s setting up a donor-advised fund for charitable giving or leveraging deductions for business-related expenses like vehicles, they tailor their advice to fit your unique needs.
3. Deep Knowledge of the Tax Code
The U.S. tax code is over 50,000 pages long and constantly evolving. A good tax accountant stays up-to-date on changes to the law and knows how to apply them to your specific situation.
They don’t just offer generic advice—they take the time to understand your business inside and out so they can pinpoint which parts of the tax code are relevant to you. This level of expertise ensures you’re taking full advantage of available deductions and credits while staying compliant with IRS regulations.
4. Ongoing Communication
Taxes aren’t something you should only think about once a year—and a good tax accountant knows that regular communication is key to effective planning.
Instead of meeting with you only during tax season, they check in throughout the year to discuss your financial performance, upcoming changes, and potential strategies. This consistent engagement allows them to adjust their recommendations as needed and ensure you’re always on track financially.
5. Personalized Advice
Every business is different, and a one-size-fits-all approach doesn’t work when it comes to taxes. A good tax accountant takes the time to learn about your goals, priorities, and challenges so they can offer personalized advice that aligns with your unique situation.
For example:
- If charitable giving is important to you, they might recommend setting up a donor-advised fund for large tax benefits.
- If you’re passionate about cars or other luxury purchases, they’ll educate you on how to leverage those expenses for deductions while staying within IRS guidelines.
This tailored approach ensures you’re making decisions that benefit both your business and your personal financial goals.
6. Long-Term Partnership
A good tax accountant isn’t just someone who files your taxes—they’re a trusted partner who works with you over the long term to help your business thrive. They prioritize building strong relationships with their clients so they can offer better insights and deliver consistent value year after year.
At Plack Group, we believe in forming long-term partnerships with our clients because it allows us to truly understand their needs and provide tailored solutions that go above and beyond.
Final Thoughts
A good tax accountant is proactive, strategic, knowledgeable, communicative, and focused on delivering personalized advice that helps you achieve your financial goals. They don’t just look at what happened last year—they help you plan ahead so you can save money and avoid surprises.
If you’re looking for a partner who can help put you in control of your taxes, consider working with a firm that prioritizes proactive planning and ongoing communication—like Plack Group!
Who We Are
The Plack Group works with clients in the areas of wealth-management, tax strategy, and business solutions through our coaching, planning, and accounting services.
Our clients look to transform the way they do business and embrace unprecedented personal and business development, balancing their personal and professional lives with a sense of purpose.
As individual and business accountants based in Bel Air, Maryland we partner with clients across the United States. At Plack Group, we treat our clients with the samecare and consideration whether you are located next door or on the next coast. We specialize in complex tax situations, uncovering hidden deductions and crafting strategic financial solutions.
Our highly experienced team of CPAs, accountants, and consultants go beyond tax optimization by partnering with you to align your business success with personal goals. We dive deep into your unique financial landscape, transforming your journey from surviving to thriving.
