One reason that will give you doubt about filing your own taxes this next year is fraud. Tax fraud is a serious problem and if you don’t think it could happen to you, you might want to think again. Consider this; data breaches are at an all-time high, affecting over 400 million people a year. Take, for example, the recent data breach in which more than one billion Yahoo accounts were hacked. So, yes, it could happen to you.
There are more reasons you should let a Greeley tax service prepare and file your taxes.
There are certain tasks in which the do-it-yourself approach is perfectly acceptable. For example, changing the oil in your car, fixing a leaky faucet or even tiling your bathroom are acceptable propositions, but filing your own tax returns really isn’t a good idea.
Though some tax forms have been streamlined in recent years, there are still over 70,000 pages of federal tax rules, many are very recent. It is extremely rare to find an untrained individual who is even close to being familiar with the tax code. As taxes are so complex, you will spend a huge amount of time working your way through the process. In addition to the time you spend filing your own taxes, you will also likely suffer a certain amount of stress.
All too many people make the mistake of thinking that all the guidance they need to complete this endeavor can be found online. But just like much of what you find on the internet, tax advice is often misleading, insufficient, incomplete or downright false. Your time can be better spent binge-watching your favorite shows on Netflix while a tax expert files your taxes.
Your professional tax preparer will go beyond simply preparing and submitting tax returns. A class-act tax preparer is a professional who represents the taxpayers and offers them advice and guidance throughout the year. And should you have to face an audit, your tax preparer will be there to help clarify and explain.
Just one small mistake on your tax returns can wind up being costly. There is no more of a pointless waste of money than missing out on a significant deduction simply because you missed it. Professional tax preparers are trained to find such deductions. It is, after all, what they get paid to do. Moreover, your tax preparer will help lower your taxes and maximize your refund, both ethically and legally.
If you have one salary, own no property, have no dependents and have no investments, then perhaps you can file your own taxes. However, this is unlikely as typical life events tend to make taxes more complex and complicated. For example, a birth, marriage, divorce or sale of a property all offer tax liabilities and the opportunity for further deductions.
Peace of Mind
The biggest advantage in hiring a tax professional is the certainty of knowing your taxes have been done by an expert. You will sleep better at night. A very good reason for you to give us a call.