When it comes to tax time filing, many people drag their feet and procrastinate. In most cases it’s because individual filer doesn’t have the necessary skills and training to quickly and efficiently navigate the maze of forms and calculations involved with filing with the IRS.
Tax preparation professionals are trained and qualified to handle all of your tax-filing needs in a professional and efficient manner. We’ve assembled this list of 5 reasons why you should use use a professional at tax time
1. Save Money
If your tax preparer can find even one deduction or tax credit to apply to your return, it’s likely that the amount will be enough to offset the cost of tax preparation. Tax professionals are trained in the in’s and out’s of tax law and have the know how to find deductions to reduce the amount of tax you are required to pay, thus saving you money in the long run. Choosing a tax professional is like putting money in your own pocket.
2. Save Valuable Time
By choosing to have your taxes prepared by a professional, you can save hours upon hours of valuable time. With a seasoned professional handling your return, you wont get bogged down with the added stress of trying to figure out all those complicated forms. This will allow you more time to focus on other important tasks. With more time to dedicate to work, you’ll have more time to dedicate to your personal life as well.
3. Tax Laws Can be Confusing
Tax forms are complicated, and tax laws are confusing. It’s not uncommon that tax law regarding filing status, deductions and credits can change year by year. And tax law is often written in language that is less than simple and can be difficult to understand. Tax professionals are trained and knowledgeable, and keep up to date on important changes to tax law. A professional tax preparer can easily find deductions and credits that you may have missed, meaning you pay less taxes on the money you have earned.
4. Avoid Costly Mistakes
If you file your own taxes, you could potentially make mistakes when filling out forms. From incorrect names and social security numbers, to account numbers written incorrectly on tax forms, any of these tax errors can extend the time it takes for the IRS to process your return. These mistake increase the amount of time until you get your refund, and fines and penalties for incorrect information can cost a pretty penny. Filing errors also throw up red flags with the IRS, which could cause you to fall under scrutiny, and even potentially open you up to an IRS audit nightmare.
5. Peace of Mind
If you own a business or keep a busy schedule, tax time can be an incredibly stressful time of year. Studies have found that stress can have a negative effect on our genetic structure. Too much stress lead to burnout and exhaustion and can even lead to hospitalization in extreme cases. By trusting your tax return to a skilled and qualified tax professional, you can rest a little easier knowing that your important finances are in good hands.
Things to Consider
We’ve only just begun to scratch the surface, but there are quite a few more compelling reasons why you should trust your taxes to a professional this year. These include:
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Decreased risk of IRS audit
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Enhanced security
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Recieve your refund faster
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Professional advice
Conclusion
Save yourself time and money, and protect yourself from IRS audit by choosing a qualified professional to prepare your tax return this year.
Do you use a professional at tax time? Have you ever been audited by the IRS?? Share your experiences in the section below.