An CPA will help you take advantage of the tax laws and offer advice throughout the year, this is especially beneficial if you own your own business. Here are your 3 Tremendous Reasons
– Pay just the right amount in taxes and plan ahead
Taxes are all about math and knowing the tax system. Having a good CPA will help you take advantage of the different legal ways in which you can minimize your tax bill and they will advise you of the exemptions that fit your situation. You may be eligible for additional tax savings that you don’t know about, but your CPA does.
– Tax code changes
Tax codes change constantly, look at what is happening right now. Federal, State, and local authorities all have different rules. Those rules are updated and amended periodically, and your CPA keeps track of the changes, so he/she can make recommendations that make sense for your situation.
– Save time and file accurately
One of the biggest reasons to hire a CPA is for the savings they offer you in terms of time, accuracy, and knowledge. It can take you many hours to do your own taxes, but an CPA has a process he/she repeats hundreds of times during the tax season.
A software program, typical of those seasonal firms, doesn’t cut it for people who have deductions and credits.
I have, firsthand, seen how the software doesn’t ask just the right question, or the person using it doesn’t understand what the program is asking. It is easy to miss out on items that the system doesn’t catch or things we don’t understand.
Who wants to file their taxes to find out it’s incomplete or inaccurate? Or that you are missing money you should have gotten back?
A good CPA may be an expense, sure, but can you really afford not to have one? I had a friend that started her taxes with an online software program and then went to a CPA, her refund increased by $3,000 by having a professional do the work.
Here is another real-life example, I had been doing my taxes for some time on my own and then I finally decided to go to a CPA. To be able to sit down for a brief period, discuss my situation, provide the documents needed, and then just walk away…. Wow that felt amazing. I was relieved and felt taken care of.
I didn’t have to worry about that when working with a CPA, they know what they were doing. To top it off, I compared what the online tax program system said what my refund was supposed to be versus what my CPA provided.
I was so used to painstakingly typing my information into a software program, hoping I understood what the system was asking, and relying on the system to catch everything that had to do with my complicated situation.
The accountant accounted for things the system or I didn’t catch or know to catch. I realized a much better return. The CPA calculated a better return that over compensated their cost. My advice is to get a CPA, it will save you time, money, and stress! It is well worth it.
Check out the below link for more information about starting your checklist for taxes.
Information contained herein does not involve the rendering of personalized investment or financial advice but is limited to the dissemination of general information.