On Your Side: Find the best tax pro, changes to know

Published: Jan. 23, 2023 at 6:02 PM CST
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SPRINGFIELD, Mo. (KY3) - The tax season has officially started. You can now file your 2022 return.

If you had significant life changes last year, you got married, divorced, welcomed a child or a child moved out, or you got a new job or side hustle, it might be better to leave it to a professional.

Make sure they’re qualified to do the job, like a CPA, or they at least have a Preparer Tax Identification Number. Ensure you can get a hold of your tax professional any time of the year. Stay away from the gimmicks.

“Always beware of anyone who makes a big promise, like a big refund or any refund, especially before they’ve had a chance to look at your financial situation,” said Pamela Hernandez with the Better Business Bureau.

Ask if they charge by the hour or job. Don’t wait on this. There’s a shortage of accountants.

“A lot of CPAs are doing what they call firing their clients where they have to let some of them go,” said Tiffany Cossey with Drury School of Accounting. “They have to choose who they are going to keep, and a lot of people are not taking on new clients at all.”

Here are a few changes. We’re back to pre-COVID-19 rules. The child tax credit is $2,000.

During the pandemic, taxpayers could take up to a $600 charitable donation tax deduction. Those who take a standard deduction cannot take an above-the-line deduction for charitable donations.

If you sold more than $600 in products online, get a 1099-K form.

“One thing to keep in mind is even though the deadline for getting those forms sent out is January 31, not all companies are good with getting their things sent out on time. Just because you don’t get one doesn’t mean you won’t get one. If you’ve had income from those sources, go online, get into your account and find out how much you made, and report it correctly,” said Cossey.

Remember, file as soon as you can. The fastest way to get a refund, file electronically and choose direct deposit.

To report a correction or typo, please email digitalnews@ky3.com