20 Questions to Ask Your Tax Preparer Before Filing
Unlock hidden savings and avoid costly mistakes by asking your tax preparer the right questions before filing your return!
- Alyana Aguja
- 6 min read

Tax filing isn’t merely filling out forms—it’s a chance to save, stay penalty-free, and hold onto more of your hard-earned cash. By inquiring about the right things, you can discover hidden tax savings, stay on top of constantly evolving IRS regulations, and plan more wisely for tomorrow. If you’re a freelancer, homeowner, or investor, an informed discussion with your tax professional can make all the difference in minimizing your tax liability and enhancing your financial health.
1. What tax deductions am I entitled to that I may not know about?
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Tax laws are updated regularly, and there are new deductions every year. Inquire about profession-specific deductions, including home office expenses, unreimbursed work expenses, or educator expenses. You may be losing money just because you didn’t realize they were available.
2. How do recent changes in tax law impact my return?
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The IRS annually changes tax brackets, deductions, and credits. Your preparer will tell you if you’re eligible for new credits or if you need to make phase-outs. For instance, the Child Tax Credit changes frequently, and it will either increase your refund or the amount you owe.
3. Do I need to itemize or take a standard deduction?
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Most taxpayers use the standard deduction without considering whether itemizing would yield more. If you have a lot of medical expenses, mortgage interest payments, or charitable donations, itemizing may be worthwhile. A tax preparer can compare both scenarios to determine which favors you.
4. Are there any alarm bells ringing in my return that would lead to an audit?
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Substantial charitable deductions, large business losses, or high cash transactions trigger the attention of the IRS. Your preparer should know what to avoid or how to record claims correctly. It’s simpler to resolve probable audit triggers upfront than it is to have an IRS audit later.
5. What do I need to do about side hustle or freelance income?
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If you made money in addition to a regular job, you might have to file a Schedule C and pay self-employment tax. Inquire about deductions such as home office space, mileage, or business supplies to deduct against earnings. Most freelancers overpay taxes by failing to track expenses properly.
6. What can I do now to reduce my tax bill for next year?
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Intelligent tax planning is not merely a function of this year’s return—it’s about preparing yourself for future savings. Your preparer can recommend adjustments such as withholding, making estimated payments, or boosting retirement contributions. Little things done throughout the year can translate into substantial tax savings.
7. Do I need to pay estimated taxes?
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If you’re self-employed or have a large investment income, the IRS requires quarterly payments. Not paying can lead to penalties, so it’s important to understand how much and when you should pay. Your preparer can figure out estimated tax payments to ensure you comply.
8. Are my investment profits subject to tax, and how much is the rate?
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Capital gains tax depends on how long you owned an asset. Long-term gains (more than a year) are taxed at a lower rate than short-term gains. If you sold real estate or stocks, knowing your tax burden ahead of time can save you surprises.
9. Can I deduct my student loan interest?
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The IRS permits qualified filers to deduct up to $2,500 in interest on student loans. Income limits do apply, and not all loans are eligible. Your preparer can calculate whether you qualify and how to maximize the deduction.
10. Is my home office deduction valid?
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The home office deduction tends to be confusing, and some people avoid it for fear of an audit. You could be eligible for a substantial deduction if your office is used solely for work. Your preparer can help you get it right using IRS guidelines.
11. Can I deduct medical expenses?
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Medical costs must exceed 7.5% of your AGI to qualify as a deduction. That would include prescriptions, operations, and even the cost of travel for medical treatment. Your tax professional can ascertain whether your expenses fit the bill.
12. How does my filing status affect my taxes?
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Filing as Single, Married Filing Jointly, or Head of Household can greatly affect your tax rate and deductions. Some couples save more by filing separately, while others benefit from joint filing. Your tax preparer can run the numbers to see which option is best for you.
13. Are there tax credits I qualify for but haven’t claimed?
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Numerous taxpayers overlook credits such as the Earned Income Tax Credit (EITC), Saver’s Credit, or American Opportunity Tax Credit for education. They lower your tax bill dollar-for-dollar. Your preparer should verify you qualify and claim what is yours.
14. How do I treat charitable donations?
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Cash donations over $250 must be substantiated with a receipt, and noncash donations (such as clothing or furniture) should be fairly valued. If you give stock or other property, you may be eligible for further tax savings. Your preparer can help you comply with IRS requirements while taking the highest deductions allowed.
15. Do I have to report income from online platforms (such as Venmo, PayPal, Etsy)?
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If you earned more than $600 via third-party payment processors, you may receive a 1099-K. The IRS also targets unreported digital income from casual sellers. Your tax professional can help you determine what to report and how to use deductions to balance out earnings.
16. How do I report cryptocurrency transactions?
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The IRS regards crypto as property, so all trades, sales, and purchases are subject to taxation. Even if you did not cash out, swapping one coin for another qualifies as a taxable event. If you have been trading, your tax professional must determine capital gains and losses correctly.
17. What if I am unable to pay my tax bill in full?
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The IRS has payment plans and hardship programs for individuals who cannot pay in full. Not paying your tax debt incurs penalties and interest, so it is advisable to settle it early. Your tax preparer can assist in establishing an installment agreement or other relief.
18. Do I need to file amended returns if I made an error?
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If you find mistakes in previous filings, an amended return (Form 1040-X) might be required. Your tax professional will determine if correcting the error is in your best interest or if it’s small enough to leave as it is. Finding errors before the IRS does will avoid bigger problems down the line.
19. What documents should I retain after submitting?
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The IRS normally has three years to audit your return, but in exceptional cases, they can go back more than that. You may want to retain receipts, tax forms, and records of deductions in the event of an audit. Your tax preparer can recommend how to keep documents safely.
20. What are the most common errors that may slow down my refund?
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Small mistakes such as wrong Social Security numbers, inconsistent income, or unsigned documents can delay processing. If you claim credits like the EITC or Child Tax Credit, your refund may be delayed because of additional IRS scrutiny. Your preparer should double-check all of it to make the filing go smoothly.