Some folks can get through filing tax returns without help from a professional tax preparer. But in many cases, it makes sense to work with a tax preparer who knows both you and the rules of the road and does this type of work all the time.
Here are a few of the reasons for working with a tax preparer to maximize your refund and minimize your liability in this busy and confusing tax season.
If you run a business
If you are an independent contractor or otherwise derive your income from a business you run, it probably makes sense for you to consult a professional.
“Congratulations, you’re now a small business owner in the eyes of the IRS,” Logan Allec, a CPA and owner of the personal finance site Money Done Right, tells USA Today. “There may be special deductions available for you that maybe you’re not aware of.”
For instance, under the new tax law, you may qualify for a 20 percent deduction of your business income. But the rules on that deduction were just recently released. So you may need an expert to help you determine if you qualify.
We’re all human and we all make mistakes. That can be a very costly thing when it comes to taxes.
So having an expert lend a hand can help you avoid errors. “Regardless of how confident you are on your ability to file your taxes, mistakes are inevitable. Many professional tax preparers use a software as well and they can double check things themselves,” writes Jeff Rose of Good Financial Cents.
Get the right experts
At Sterling Accounting, we actually like doing taxes, and we’re good at it. We keep up with the changes in tax laws and regulations and can handle everything from the simplest to the most complex situation.
We are also specialists in handling all forms of tax matters for small, medium and large businesses of all kinds.