Evelyn Jacks: How to find a tax professional

Fall is in the air and you know what that means: yearend tax-planning and tax-filing time is just around the corner. It's time to get a handle on recent changes to tax laws and their impact on your income. That means it's also time find a tax professional who meets your needs and becomes part of the team of professionals who advise you.

But finding the right tax professional ó someone to whom you can turn when an important life event triggers crucial financial decisions ó can seem like a difficult task. Often, you simply don't know what questions to ask, or if you are receiving the right answers for your situations.

You can start by asking yourself three questions:

• What are your top three concerns about your taxes?
• What are your top three concerns about your investments?
• What are your top three concerns about your family financial affairs?

Once you have identified these concerns, discuss them with the tax professional you are interviewing. Then, use this checklist as your interview guide:

1. Has the professional answered your concerns in plain English?

2. Would you consider this person a "financial educatorî?

3. How does this professional price his or her services?

4. Are these services available to you year round?

5. Does the professional have a "successionî team, juniors he or she is mentoring so you can get service when your professional is on vacation or is ill?

6. Are services guaranteed? What happens if there is an error or omission that costs you interest, penalties or causes you to lose money?

7. Can the professional provide you with three references from professionals who have worked with him or her?

8. Can the professional provide you with three references from clients who have worked with him or her?

9. When is the last time this person took a refresher course? Look for certificates from reputable educational programs.

There are thousands of professionals who have Knowledge Bureau certification and designations ó the Master Financial Advisor (MFA) or the Distinguished Financial Advisor (DFA) - Tax Services Specialist ó who are trained to work with you and become part of your inter-disciplinary team. You may wish to seek out local MFAs and/or DFAs and interview them.

They are people who you know will be up to date. Every fall, Knowledge Bureau faculty travel across Canada bringing new educational programming to these savvy professionals, so they can update their knowledge for yearend tax-planning opportunities. We also delve into issues involving specialized expertise; this November, we'll discuss cross-border taxation with our special guest, Angela Preteau, CA, CPA. You may wish to join us.

It's Your Money. Your Life. At Knowledge Bureau, we strongly recommend that you work with a team of advisors who come from various disciplines, who can assist with a strategic solution when you have important decisions to make. Make sure you deal with competent professionals who can be your financial educator, advocate and steward of your hard-earned money.