It’s the end of January and that means one thing: tax time is around the corner. You’ve probably started receiving your tax documents in the mail. But what will you do with them as the April 15 deadline approaches? Will you choose to do your taxes yourself or will you go to a professional? You may think DIY tax preparation is easier and cheaper. However, there are some definite advantages to trusting this task to a CPA. Here are four reasons why professional tax preparation is your best option.
- A professional tax preparer understands the laws. Taxes can be complicated. If you try to do them yourself, you may be missing some important details. For example, you could overlook a form you should’ve filled out. Or, you could overlook income you should’ve claimed. This could cause problems down the road if the IRS finds the mistake.
- A professional tax preparer can help you plan for the future. DIY tax software isn’t going to look at your current situation and offer you suggestions. A CPA can. Working with a professional means you’ll get personalized advice. Your preparer can help you develop a tax strategy that will help you for years to come.
- Professionals stand behind their work. Although the average taxpayer’s chances of being audited are pretty slim, you still need to think about what you’d do if this happened to you. A CPA or tax professional will be there to help you in the event of an audit or any other questions about your tax returns.
- You may get more money back. Since tax professionals have such a thorough knowledge of the law, they know where to look for deductions or credits. You may be surprised at the difference in your refund!
These are just a few of the benefits of choosing professional tax preparation. John S. Curtin, CPA Chartered, prepares taxes for both individuals and businesses. Call our Ellicott City, MD office today for an appointment.