When marketing your tax service, some individuals may need a little convincing that hiring a CPA is a good idea. Here are five good reasons why hiring a professional to prepare your taxes is a great decision:
Mistakes, we all make them. However, if a person makes a mistake when they file their own tax return, they may not be aware that they have a time window to try to amend the mistake. A professional CPA can review previous returns, discover errors, and prepare a new return within the allotted time.
Marriage creates income tax return options. To file jointly or separately? There are all types of details to work out for a filer’s advantage. For example, if a husband is responsible for child support and got behind in payments during a period of employment transition, back child support could be withheld from any refund owed, including refund dollars attributed to the wife’s income. That may be an instance when filing separately is advantageous.
3. Interstate Income
If a person has income streams from multiple states, preparing an income tax return can get confusing. An experienced tax professional can iron out all the wrinkles and make the filing process much smoother.
4. Small Business
If a person is dealing with a first-year business, they may not have consulted a financial adviser before launching the business. To start off on the right foot and take advantage of all the tax benefits available for new businesses, hiring a professional CPA can really pay off.
5. College Tuition
If a parent or grandparent is paying tuition for children or grandchildren, there are tax benefits they don’t want to miss out on. In addition to tuition and fees, medical expenses of college students may also be deductible. Having a professional CPA prepare an income tax return can help parents and grandparents recover all refunds and exemptions they are entitled to.
There are so many reasons to trust tax professionals. Rather than individuals file on their own and wonder if they did it right, or if they are recovering the entire refund they are due, let a Happy Tax CPA work on your behalf.