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Preparing for Your CPA Meeting

February 6, 2013

The average person likes to procrastinate when it comes to their tax return. This is because preparing for taxes is often a complicated and frustrating process. Unfortunately, this means that many people are not saving as much money on their taxes as possible. Countless CPAs have stated that the sooner a person gets his or her papers in order, the more money they can save.

Why Disorganized Clients Drive CPAs Crazy

Many CPA clients come into their first meeting with a shoebox full of documents. When a CPA sees this, he or she starts thinking about what information could be missing from the box. When clients do not keep good records, CPAs cannot do the best job possible of tax preparation for a client because they are missing vital information.

How Clients Can Prepare for a Meeting with a CPA

There are several steps that clients can take to prepare for a tax filing. Those that take the time to complete these steps will help their CPA and be positioned to save the most amount of money on their tax obligations. Listed below are some tasks that CPAs wish clients would complete before their first CPA meeting.

• Put any mail marked “important tax return document enclosed” in a folder.
• Open tax related mail and check it for mistakes. Do not hand unopened mail to CPAs since they will not know if there is a mistake in the document or not.
• Review credit card statements and check for expenses which may be tax deductible.
• Use previous tax returns as guides. Clients will find that these tax returns will help them determine which documents they need for this year.
• Clients with new babies are often so busy that they forget to tell their accountant that they have had a baby or adopted a child. It is important that clients inform CPAs of big life changes which have impacted their finances.

Last, clients should ensure that they make an appointment to see their CPA as soon as possible. The earlier a client gets in, the more time CPAs have to assess documents. In many cases, this will result in the client saving more money than they initially expected.

Itemizing your tax return is the only way to reduce your tax obligations. More information can be found at irs.gov or by contacting Kathleen M Egan CPA PLLC at (602) 569-1003 to discuss your tax deductions.


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