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Questions to Ask Your Tax Accountant

Bringing up the right questions to your tax accountant helps you understand your situation better, and potentially might help you save on taxes.

Can you explain my current tax situation and how I can improve it?

This broad question allow you to get an overview of your tax situation as well as your liabilities and how you could potentially lower you taxable income.

What are the most common tax deductions and credits that people in my situation typically miss?

Learning from others' mistakes, especially when it comes to tax deductions, is a good way to be proactive about your tax planning strategy.

How can I better organize my financial records to make tax filing easier and more accurate?

If you own a business with a high number of smaller transactions rather than a lower number of lump sum transactions, it may be a good idea to organize your bookkeeping and make sure it is coded correctly to streamline and automate your financial statements each period.

Have there been any recent changes in tax laws that affect my current situation?

It's always a good idea to stay up to date with tax law changes. Who knows, it could be in your benefit!

How could my investment decisions impact my taxes?

Understanding the tax implications of different investment strategies can be a big decision makes in how yo want to manage your investments.

Do I need to file my state taxes as well?

Sometimes, more often than we'd think, taper file federal taxes without filing state taxes, if applicable.

***Disclaimer: This article is for informational purposes and is not meant to be financial or legal advice***

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