With tax season on its way, now is the time to start thinking about your final return. For many, this leads to one very important question: will you file your own return or hire a CPA?
For some, the thought of hiring a CPA is out of the question. They believe this is too expensive. They also have no confidence that the person knows what he or she is doing.
Before you jump the gun and decide to file your own return, you should learn more about the benefits of working with an experienced tax professional. Here are three basic benefits that will open your eyes:
1. Help you save money. Is there anything more important than this? You want a CPA who knows the ins and outs of tax law, ensuring that they save you as much money as possible.
There is a good chance you have overlooked some tax deductions and credits in the past. If you want to avoid this situation in the future, find a CPA who can help. It could go a long way in saving you hundreds (or maybe even thousands) of dollars.
2. Answers to your questions. There is nothing worse than unanswered questions during tax season. These are enough to drive you nuts. Not to mention the fact that an unanswered question could lead to mistakes and a possible audit.
Your CPA should be more than willing to answer any question you have, no matter what is on your mind.
3. No mistakes. When you file your own return, even if you use advanced tax software, there is always the chance you could make a costly error. In some cases, this means leaving money on the table. In other cases, it means shortchanging the IRS. In this situation, an audit could cost you a lot of time and money.
These are just a few of the many benefits of working with an experienced CPA. If you have neglected to do this in the past, rethink your decision when filing your 2015 tax return.