Accountant: Interview Questions
Use the following checklist to interview accountant candidates.
EXPERIENCE
How familiar are you with NIL regulations and the financial implications for college athletes? How many clients do you have in this particular situation?
Can you provide references from clients who are student-athletes or have similar financial situations to mine?
PROCESS
What is the typical process you have when interacting with clients?
How often are you available and what are the expectations?
What is your rate for assistance or hire?
What range will a return like mine typically cost?
How will you communicate financial reports and tax documents to me? Do you use a secure online portal for document exchange?
Do you offer services related to investment advice, insurance needs, and estate planning?
In the event of an IRS audit, what is your experience with audit support, and what can I expect from you during the process?
If I'm from another state or country, how does that affect my tax filing requirements?
How do you handle state tax filings for income earned in different states, which is common for athletes competing nationally?
For international student-athletes, are you familiar with tax treaties between my home country and the United States that might affect my tax situation?
How do estimated tax payments work, and do I need to make them for my NIL income?
REFUNDS
When and how will I typically get my tax refunds?
DEDUCTIONS
Is there a way I should organize my expenses, like just using one credit card for those expenses or using an accordion folder for receipts?
Can I deduct travel expenses related to my sport or NIL activities?
Do you have a list of deductions that a student-athlete is most likely to be able to use as expenses?
Should I consider contributing to a retirement plan to lower my taxable earnings?
What receipts should I be saving throughout the year so I can “write them off"?
Are there specific deductions or expenses that student-athletes can claim related to their sport or education?
Can I deduct travel expenses related to my sport or NIL activities?
Should I consider forming a business entity for my NIL activities, and what are the benefits and drawbacks of doing so?
Are there any financial planning strategies I should consider to manage my taxes more effectively throughout my college athletic career?
