Perhaps you have found yourself mulling over the choice between whether to prepare your own taxes or to use the services of a professional tax preparation firm to prepare your annual tax return. While the idea of using an online tax filing site may seem like a practical choice, there are important benefits to handing over your tax filing task to the tax professionals. Be sure to carefully consider the advantages that hiring a tax professional can offer you.
- Money Savings One of the main reasons that people turn to online tax preparation services is because upfront, the cost is likely going to be less than hiring a tax professional. While hiring a tax professional will probably cost more than paying for an online tax service, you should be aware that a tax professional has the ability to actually save you money on your tax return. By knowing your situation and by being on top of the current tax rules, a tax professional will be able to identify the possibility of deductions and credits that you may not be aware of. And by calculating the value of the hours that would be required for you to complete your own filing, you may find that a tax professional is well worth the money.
- Time Savings From start to finish, completing your own tax return will take an estimated 20 hours. This time includes organizing your forms and files to completing and submitting your returns, but does not include the time that you will spend wondering and worrying if you’ve completed your filing correctly! By turning over the responsibility to a tax professional, the time savings is obvious and the reduction in stress will be immeasurable.
- Reduce Risk Of Errors With extensive training and by staying current with the tax environment, a tax professional will decrease the chances that errors will be made on your return. This, in turn decreases the likelihood that you’ll be subject to an audit.
- Assistance With Audits While audits are actually quite uncommon, in the event that you are audited by the IRS, you can rest assured that your professional tax preparer will have your back. Your tax preparer will be the professional that you turn to in case of an audit to respond to IRS inquiries.
- Peace Of Mind Year after year of tax filings, there’s nothing else that will provide you with the peace of mind that you gain from hiring a tax preparer. Your professional tax preparer will know your tax situation, which saves them preparation time each year, helps you in case of an audit, and finds you deductions and credits that reduce your tax liability. Knowing that your taxes have been filed properly each year is the best way to reduce stress and eliminate any anxiety about filing.
Contact E&Y Tax Preparation Services Today
If you’re already well on your way in your attempt to file your own taxes, or if you are using an online tax preparation service and you’ve found yourself knee-deep in confusion, keep in mind that it’s never too late to turn to a professional tax preparer. E&Y Tax Preparation Services will work with you to have your taxes filed accurately and on time.
Call our office today at (248) 362-1313 for a free consultation or to learn more about how we can help you with your current tax situation.