Why Hire Someone to Do Your Taxes?
Tax is vastly complicated!
If you’re ready to file your taxes, it’s important to understand how to best go about it. Some taxpayers will benefit from using tax software, while others might benefit from working with an Enrolled Agent.
Doing taxes on your own can be a time-consuming and complicated process. Here are some reasons why hiring an enrolled agent, could end up being a big plus.
Minimized Risk of Tax Return Issues
The biggest factor when deciding whether to do your taxes yourself is to consider how a mistake on your returns might cost you in the future. A math error may seem harmless at first, but could lead to a costly bill if the Internal Revenue Service audits you.
You might have a better chance of saving money on your taxes—and maybe even having a little leftover—if you hire an enrolled agent to do your taxes.
Accurate Tax Deductions
Tax laws offer many potential tax deductions that the average taxpayer may not know about. For instance, did you know that you can deduct medical costs and even gambling losses? a personal enrolled agent will make sure you keep the right amount of money in your pocket.
Major Life Milestones
Your taxes can be affected by major life milestones, such as getting married or divorced. You should know that death also affects taxes. If someone you know dies, you may need to file a tax return for them; if someone inherits money from a deceased person, they may need to pay taxes on it. Other major life events, such as moving or being affected by a natural disaster, could also impact how much you owe.
A complete record of all bills and statements related to a change in your tax status can help you determine the correct amount of deductions and costs at tax time.
Saves you time
Let’s face it. taxes are complicated. You have to gather all the documentation, then determine which forms you need and when you need to send them in. Why make things harder than they need to be? Your life is stressful enough with all the IRS forms to fill out and deadlines to meet. Let our experts help you get your taxes done right and save you time while we are at it.
Getting ahead of future tax issues
Next year, you’ll file your taxes again. And the year after that, and the year after that. You can make next year easier by having a go-to tax preparer that has your tax history on file to make things easier and which could also help minimize errors with your taxes.
It’s a good idea to ask either your tax preparer for help in setting up a checklist for the year. It will help you get organized, and you won’t end up searching for missing receipts at the end of the year.
Bottom line
Last year, 50% of Americans said they thought their federal taxes were too high. But there are so many reasons taxes can be lower or higher: deductions, adjustments for life changes, and even temporary regulations due to the coronavirus pandemic. And some people don’t realize all those little details!
To ensure you do not miss out on any tax deductions that could benefit you this tax season, think about whether getting a little help on your taxes this year would lessen the stress of filing your return.
If you think that your tax situation requires you to seek professional help, don’t hesitate to get in touch with us!
