Three Reasons To Hire A Tax Professional
Even if you have the simplest of returns and think you can handle filing your taxes on your own, there may be several deductions and exemptions you can miss if you aren’t fully versed on tax law. The average person doesn’t keep up with all the changes in tax laws that happen every year, and may only be concerned with tax information around March or April of every year. Because of this, you may be giving the government money that should be in your pocket. This is just one reason why you should hire a tax professional to handle your tax filings every year.
Peace Of Mind
The non-monetary benefit that comes form hiring a tax professional is the peace of mind you get from knowing your taxes are filed right. You can rest assured that you paid the right amounts for taxes and that you didn’t give the government one cent more than you are required. You will not have worries of unexpected visits by the IRS or fears of being audited when you know your taxes were filed by a tax professional who is knowledgeable with the laws of taxes.
Life Changes Can Be Complicated
The amount of life changes that happen within a year with a direct effect on your taxes can be shocking. Getting married, having a child, buying a home, or gaining an inheritance are just a few examples of life events that happen to the average American throughout the year. Each of these events has an effect on your total tax bill, and a tax professional can take these into account when filing your taxes. With savings you didn’t even know you were eligible for, a tax professional may make you more money than you are paying them to do your taxes.
Your Tax Bill Seems A Little High
Have you ever been in a situation where you file similar taxes to the year before, yet your refund is nowhere near where it used to be? Many Americans find themselves completely confused by the drastic change in their tax refund when their lives have virtually stayed the same. A software program can’t explain to you what changed that required you to pay more in taxes, and can’t help you to locate errors within your tax filing. A tax professional, on the other hand, can quickly search out any strange entries in your taxes and determine where the change happened.
Many people balk at hiring a tax professional because of the additional cost that comes with the service. But hiring a professional to file your taxes may end up saving you considerably more money than you paid for the service. Don’t leave your taxes up to chance by preparing them yourself.
Featured images:
License: Creative Commons
image source
LBS Tax and Jon Stiles have teamed up to bring valuable Tax Preparation Information to the people of Chandler, Arizona. With all the changes coming to taxes this year, you will want to go in prepared!