Everyone can benefit from working with a professional CPA or Tax Preparer. It’s simply a matter of finding the right tax preparer for your needs. It may seem like a large cost to hire an accountant, but if you make a mistake on your taxes it could wind up costing you a lot more to fix. On top of that there is the obvious benefit of finding additional deductions that you could be missing if you are not intimately familiar with the tax code.
Getting Started
Before you walk into an accountant’s office you want to get organized. If you don’t find the right person to meet your needs you could be signing up for an exercise in frustration that is better avoided. If you need help with something very specific such as filling out your FBAR or getting more information for how to pay taxes now that you are self employed you want to find an accountant that specializes in these things. Once you have narrowed down your search collect all of your information and make an initial visit. Make sure you have:
- Your 1099
- Any previous tax information you would like to review
- Identification
- Pay stubs if you are self-withholding
- Any receipts for potential deductions
Stop Stressing about Your Taxes
If you don’t have time to do your taxes or it always seems to be a fight with your spouse as you try to wade through the legal language, stop putting yourself in that position. Doing your taxes is confusing and takes a lot of time. It can be well worth the cost of getting a professional just to ease this burden.
Handle Tax Problems Properly
If you have a problem with your taxes then you want someone on your side to make sure that this gets handled. This means both making sure any new filings are accurate and addressing problems that you may have had in the past. If you are fighting an audit, need to file back taxes or need to pay off a tax debt you need to get someone who can represent you to minimize the burden this will have on your household.
You want to Pay as Little as Possible
Everyone wants to find a way to pay less on their taxes. Not only can a tax firm find deductions that you might be missing but they can provide you with some advice for next year. If you structure your finances properly you could save yourself a lot of hassle when it comes to paying your taxes while helping you to save at the end of the year.
You Have a Unique Situation
Those that have a complicated financial setup should always consult with a tax expert to make sure they are not missing any requirements. Whether you rent property, run your own business, just received an inheritance or are planning on retiring out of the country there are dozens of situations that change how you should be paying taxes. Sitting down with someone and learning the rules before tax season comes around can save you a lot of hassle later.
For any specific questions, please visit us at www.abbotax.com.
