It is almost that hair-pulling, stress-inducing time of the year again, tax time. This leads to the inevitable next issue of whether to try one of the many DIY tax software programs available or have the taxes done by a professional tax preparer. While there are many more tax software options than ever before, there are still some critical reasons to trust a tax preparation professional to prepare taxes, explains Greg J. Menia, CPA and founder of Accurate Tax and Bookkeeping Services.
Doing taxes is a daunting task, and one most people want to avoid as much as possible. This is one reason why some people opt to try DIY tax preparation software. Many of these programs are very low-cost and simple to use. But is this the best option? For the few individuals that have simple taxes and some level of experience, it may yield an adequate outcome. For most, however, it can lead to costly mistakes.
There’s No Substitute for Tax Knowledge
Tax software, like any other software program, relies on the correct input. The software may be advanced enough to anticipate some information and provide prompts, but it is still not a substitute for human knowledge and expertise. A tax preparation expert does not just input information, they evaluate it. Because they have knowledge of tax laws and have in-depth experience in working with real-life tax issues, tax accountants avoid costly mistakes and get more money back than any common software can.
Tax Experts Use Better Software
One of the first benefits of working with a CPA for tax preparation is that professionals use expert programs that are not available to the general public. For comparison, there are many tax preparation programs available from as low as $10 to $200. Professional software programs can cost as much as $6,000 or more. The powerful software allows the accountant to evaluate the data, line items, and organization to ensure all the information is complete and correct. Better tax tools yield better results.
It Avoids Mistakes
Mistakes in taxes can be very costly. It might mean missing significant deductions, or worse, triggering a costly, stressful, and time-consuming IRS audit. An accountant can help avoid these errors and help avoid being flagged for an IRS audit.
Tax Professionals Can Help All Year
An accountant can do much more than just prepare taxes once each year. They can help clients work all year to make smart choices that will benefit them at tax time. Software is purely for getting taxes done. An accountant knows you, and your individual situation such as your job, children, expenses, education, and more. A knowledgeable professional can help make important recommendations such as smart business purchases or how to save for education.
A Tax Professional Saves Time and Money
When a person uses inexpensive tax software, it leaves a lot of room for things to go wrong. If it does go wrong, it means needing to hire a CPA to assess and handle the problem. All of this is time, money, and a lot of added stress that could have been avoided. Taxes are serious and complicated. Doing them wrong can have serious consequences. Overall, a tax professional can save time and money.
Accurate Tax & Bookkeeping Services
Founded by Greg Menia, CPA, Accurate Tax & Bookkeeping Services, LLC (ATBS) is a full-service tax, accounting, and consulting firm located in Brandon, FL, offering services to businesses and individuals in Tampa Bay and surrounding cities. ATBS specializes in tax preparation and planning, accounting and bookkeeping, payroll, and representation in IRS/State matters. For more information about tax preparation or other services, call (813) 655-9702.
Accurate Tax & Bookkeeping Services
710 Oakfield Dr.
Brandon, FL 33511