|Uncle Sam is a force to be reckoned with|
We’re just about halfway through December and that means it’s almost tax time. Many people balk at the cost of having a CPA prepare their tax returns, but there are many reasons why you should hire a professional to battle Uncle Sam on your behalf.
Here are just a few of those considerations:
- CPAs can answer questions you may have about a tax treatment that you can’t “ask” do-it-yourself software.
- Who would you rather have standing in front of the IRS answering question on why the numbers you filed don’t match their records?
- CPAs can help you plan your tax strategy for the future.
- People who don’t prepare taxes regularly generally make more mistakes on tax returns than those who do, resulting in smaller refunds (amounts left on the table often exceed the costs of hiring a CPA).
- Major life events such as marriage, divorce, child birth/adoption, or home purchases are a great time to reassess hiring a CPA if you haven’t done so in the past.
- Your time is better utilized doing what you know best. For example, if you run a small business and you think spending four hours of your time (the same amount of tax it would take you to complete your own tax return) can generate $1,000 in sales, and a CPA will complete your tax return for $250, it makes more sense ($750 worth of it) for you to spend your time selling your product.
At the end of the day, your tax preparer decision is about what complexity of return you’re comfortable managing on your own. If you need help thinking through this decision for this tax season and beyond, you should connect with me using the Contact Form and I’ll get back to you as soon as possible to figure out the best option for your unique situation.