You can save a little bit of money doing your own taxes. However, it increases the chance of making errors (and the IRS knows no mercy).
So, instead of wasting your time, losing a lot of your sanity and risking making errors, you should hire an accountant to do your taxes for you. Having a tax professional handle the process guarantees a bigger return and no mistakes.
Dodge That Audit
No business wants to be audited. It’s suspicious, it’s tedious, and it can have seriously detrimental results. Last year, over 130 million tax returns were submitted. This means the IRS has a lot on its hands.
To funnel out the good ones, they basically only audit the tax returns that have mistakes. Having a good tax accountant can help you avoid this fiasco altogether. At Faris CPA they say “a trusted and experienced auditor or accountant helps your business deal with the pressure of financial reporting, tax filing, and corporate governance matters.” This means you don’t have to worry about it anymore.
How Do I Find a Tax Accountant That Won’t Make Mistakes?
The short (and obvious) answer is: hire an accountant from a reputable company. Make sure they have a lot of experience under their belt and really know what they’re doing. Fresh grads are cheap, excited, and all over the market, but do they have what it takes?
The margin of error with the IRS is tiny, and the last thing any business needs is an audit because of a new unreliable accountant. Be sure to go to a reputable company that you can trust or that people you know have tried and recommended.
Communicate With the IRS, and Save You That Turbotax Money
Anything that has to do with the IRS is better off being handled by a professional. They’re not clear in their letters or their wording and are very hard to get a hold of.
The IRS can be very meticulous. TurboTax and other paid software that do your taxes for you are great in theory. However, should something come up, you’re going to be the one spending hours on hold with the IRS, probably getting nowhere.
Why Accountants Are Better at This
Tax software is amazingly accessible, but they come with a downside: should there be an issue, they are not a person you can hold accountable. They are not able to contact the IRS and do the dirty for you.
If you hire an accountant, they know exactly how to talk to the IRS reps, when and whether they need to call them, and how to work with them. So even though you pay the accountant, you’re saving that software money that basically doesn’t do anything but give you a more colorful form than the IRS’.
Forget Learning About Tax Laws
Have you ever tried to understand these laws they’re taxing you under? It’s pretty difficult. Every year, the laws change. Things are added, and others are removed, and even the tax brackets are changing.
If you don’t want to keep learning and studying taxes forever, hire an accountant to handle these things for you.
Why Are Accountants Better at This?
Accountants know the ins and outs of the taxing world. They can increase or even double your benefits and take advantage of loopholes and loose laws. They know the game better than anyone, and they’re sure to get the heftiest refund.
Hire an accountant to not miss out on some benefits you might not even be aware you can snatch. Hiring a lawyer can save you a lot of money in the long run; you will not regret it. They’ve been in the tax business longer or at least just as long as you’ve been in yours, and they know exactly what they’re doing.
Find One Near You
Get online and find a tax accountant near you. They know the loopholes, they will save you time and money, they’ll get you a bigger refund, and do all the dirty work you and your tax software can’t or don’t want to do.
A tax accountant can go a long way if chosen wisely. They’re in the business of getting you more money and are only satisfied if you are. If you hire one this tax season, you’ll be doing so forever more.
Keep your business safe from an audit, spare your reputation the hit, try to save that money by getting a bigger refund, and leave it all in your tax accountant’s hands. It’ll pay off, literally.
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Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.