Tax Preparation

“The time has come,” the Tax Man says, “to get your taxes done.” April 15th is coming…are you ready?

Is tax season a daunting time for you?

Yes, tax season can be a very daunting time for many people. Right after celebrating the New Year, you may be left wondering how to capture all the details of the past year and how those details will affect your current tax status. It may seem like an uphill climb as the April 15th deadline looms.
Doing your own taxes can not only be time consuming and confusing, but you may also miss some valuable deductions and tax credits. Having a friend prepare your taxes or using tax preparation software is different from using a seasoned CPA accountant tax professional because your CPA accountant tax professional can provide insight on questions that you may have regarding the latest tax codes that could benefit or even hurt your tax status. A study by the U.S. Government General Accounting office entitled “Paid Tax Preparers: Most Taxpayers Believe They Benefit” showed that 87% of taxpayers would use a CPA accountant tax professional again in the future.
Here a few more advantages of using a CPA accountant tax professional for your tax preparation. For individuals, filing your own taxes for either your business or yourself can be a very time consuming task. Most business owners prefer to run the core operations of their business and would prefer not to be bogged down by doing tax preparation. A CPA accountant tax professional will also save you time by letting you know what to be aware of for future tax seasons because he or she will have the latest knowledge of current tax codes and how these tax codes affect you individually and how these tax codes may affect your business.
Did you know? Both individual taxpayers and corporate businesses can deduct the cost of hiring a tax professional. That’s right! The help you receive from a CPA accountant tax professional can be included in part of your tax credits.
Additionally, there may be ways to reduce your taxes without raising red flags that could potentially get you audited by the IRS. From tax credits to tax payments, CPA accountant tax professionals know what will be best for you and will help you determine your fair share of taxes and keep you a safe distance from the auditing arm of the IRS.
While you may be doing everything right and you may also have received great advice, the long arm of the IRS may eventually find your return and choose to audit your return, red flags or not. A nice advantage of using a CPA accountant tax professional to prepare your taxes is that he or she will also help you through potential IRS audits. That is something that your friend doing your taxes or your tax preparation software won’t be able to do. The IRS can be intimidating and the thought of going through a tax audit can be stressful.Having a CPA accountant tax professional on your side in the event of a tax audit is comforting.
Another advantage to using a CPA accountant tax professional is that your tax information will be stored safely and securely with all the proper documentation to back up the final tax filing. You receive a personal copy for your own records, but sometimes files at home will be lost, or misplaced by mistake. You may have those copies restored by contacting your CPA accountant professional. With your information secure, you can be confident that your tax information will be protected year after year.