If you’re looking for someone to prepare your taxes, working with an enrolled agent rather than a certified public accountant can provide you with some distinct advantages in keeping your tax liability low. EAs and CPAs each have licenses that allow them to offer nearly identical tax preparation services. However, enrolled agents have extra educational requirements and go through more vetting, allowing them to provide their services to clients in any state across the country and to represent their clients in the event of an audit performed by the IRS.
Here are just a few of the advantages that come with working with an enrolled agent in Oklahoma City, OK:
- No geographical limitations: As we mentioned above, EAs are able to conduct business in any state, which is greatly advantageous for clients who have businesses and assets located in multiple states or need to file taxes in more than one state. Rather than having to hire a different CPA for each tax return, you can use an EA to get them all done at once, saving you a significant amount of time and money and making the process a whole lot easier.
- Cost: EAs tend to be much more cost efficient than CPAs, especially if the CPAs in your area charge high hourly rates. It’s not at all unheard of to find a tax preparation company that offers the services of EAs at a flat rate rather than an hourly fee, and most of the time the ones that do charge hourly fees will still be lower in price than the CPAs. This means you get a whole lot more for your money. Part of the reason they’re able to provide this benefit is that you can find an EA that operates from a less expensive geographic location. You could be in New York and work with an EA in Oklahoma and save a significant amount of cash.
- Representation during audits: In the event that you’re subjected to an audit by the IRS or you ever run into any form of tax trouble, your EA is capable of negotiating a settlement on your behalf, and can manage your appeals and conduct hearings related to your case. This is a big benefit, especially if you have a good working relationship with your EA and are either a business owner or have a lot of valuable assets.
- Knowledge: EAs have an in-depth and highly specialized knowledge of the tax code, thanks to their ongoing educational requirements. Their examination scores are accredited by the U.S. Department of Treasury, and they often have experience in working directly with the IRS. This means your EAs will be better equipped with all the knowledge and tools needed to keep you from getting audited and give you the best results possible with your taxes.
For more information about the various benefits of working with an EA versus a CPA, contact the experienced team at Chrisman & Chrisman Financial Services today to speak with one of our enrolled agents in Oklahoma City, OK.
Categorised in: Enrolled Agent
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