Each year one unavoidable matter to take care of is filing your taxes. Hundreds of commercials and advertisements fill the better part of the first four months of the year as dozens of companies are vying for your business with the hope that you choose them to take care of filing your taxes for you, of course for a fee as well. With advancements in technology making it easier than ever to file your taxes on your own with things like TurboTax or H&R Block, it may seem like using a tax preparation professional is an overly expensive and outdated option but when it comes to making sure that you get the most money possible in your tax refund, there are many reasons why using a professional to help you file is actually the best option there is.
• Finds Deductions or Credits That May Be Overlooked- Filing your taxes is done mostly with the intention of getting the biggest refund possible. While services like TurboTax are great for reducing the amount of time that it takes to file, choosing to use a professional will limit even further any mistakes or oversights that you may make when filing on your own. Trained and usually offering years of experience, professional tax preparers know what to look for to maximize your tax refund and can oftentimes find even the slightest deductions or credits that you or whichever one of the services that you are using may not be able to catch.
• Filing on Your Own Can Be Time Consuming- It has been estimated before that the average person spends about 24 hours completing their taxes and depending on the type of filing that you have to do, that number can easily double. Spending that much time on taxes not only cuts in to time that could be spent doing other things but that also means that you are missing out on money from working. Using a professional means that the work will get done quickly and efficiently so you do not have to worry about errors occurring, freeing up more time for you to focus on other important things.
• Avoid Faults and Penalties- When you finish and submit your tax return, you are required to sign it to acknowledge that all of the information is true and accurate to your knowledge. In the event you are audited by the IRS and inaccuracies are discovered, this can be a huge legal issue with severe consequences. While most services will help you avoid mistakes, it is worth it to use a professional as a safeguard to ensure that your return is accurate with no oversights or mistakes. It is still recommended that you check your return yourself to be sure but having the eyes of a trained and experienced professional is a great way to prevent yourself from any unforeseen consequences or penalties in the event of even a small mistake being made.
• Represent You in the Event of an Audit- Another benefit of having your taxes handled by a professional comes in the form of representation. In the event that the IRS audits you, you can count on the professional to represent you throughout the audit process, offering protection that something like TurboTax simply cannot.
• They Already Know The Laws- Tax laws and rules are some of the strictest there are and learning the ins and outs of all of them to make sure that you do not make any mistakes or oversights takes more time than filing the taxes do even. Using a tax professional is a great way to make sure that all of the laws and rules are followed as they must stay on top of all of the latest laws and regulations already.
Filing taxes is something that most people do not enjoy having to do but when you choose to use a tax professional, you can benefit from the best of both worlds: the biggest refund possible and the quick, accurate work of a trained professional. While technology is making it possible more and more for you to take care of them on your own, using an expert will not only save you time but will make sure that your taxes are properly filed as well to help you avoid any headaches further down the road.