Personal Tax Preparation
Whether or not you hire a professional to handle your taxes is a personal choice. There are many resources available to help you prepare your taxes yourself. However, make sure that each year, you evaluate your decision and see whether you should take advantage of the benefits of filing your taxes with the help of a professional.
“Benefits of using a professional to file your taxes include, saving time, getting a better return, better audit protection, and peace of mind knowing your return was filed by an expert who knows the tax laws.”
Many Situations Call for A Tax Professional
You will probably want the help of a professional with your personal taxes if you:
- have dependents with diverse situations
- own a business (even personal taxes can be more complicated if you started a business)
- want to include itemized deductions like charitable contributions
- own a house
- have significant assets and investments
- have any overseas accounts
- got married, divorced, or had a child recently
- have a hard time with numbers, forms, and bureaucracy
- have a high income (which can make you more likely to get audited)
In all of these cases, you’re at a high risk of missing out on great breaks and credits. Tax preparation itself might require multiple forms and a lot of time to work out.
Benefits of Professionally Filing Your Taxes
You’ll save time. Even with a simple 1040 form, you can spend a lot of time getting taxes done. The IRS estimated that in 2013, it took an average 16 hours preparing and filing a Form 1040. Even a 1040EZ took an average of 4 hours.
You’ll get the best return. In many cases, you actually save money by hiring a professional, because they can ensure that you get the very best return possible. Tax professionals know the ins and outs of different tax forms, deductions, credits, and breaks. They can help you find the best option for your personal situation.
You have better audit protection. An audit is just about everyone’s worst nightmare. But if you file through a professional, your accountant can represent you to the IRS. You’ll know that your forms are all in order, and you’ll have the support of someone who understands the situation and the lingo, which will greatly reduce the stress that an audit can put on you.
Let Us Know if We Can Help
Some people don’t like hiring others to handle taxes because they like having control and knowing exactly what’s going on with your money. Obviously, that’s your call. However, our trained professionals value a personal relationship and we want you to feel comfortable with everything that we’re doing. We can walk you through the process, and help you evaluate your situation with finances.
Utah Tax Refund Status With The Utah Tax Refund Tracker
If you feel you have been paying more than your fair share of taxes, call our office to schedule a free initial consultation to have your situation professionally evaluated by an experienced Certified Public Accountant or Enrolled Agent 801-676-0945.
You will love how easy it is to work with our firm and how comfortable you will feel that you are getting accurate information and not over-paying your taxes.