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What am I missing by not using a professional tax preparer?

Location: Seattle, WA       Date: Tue Nov 29 2016      Topic: Business Tax Planning, Individual Tax Preparation
I've always done my own taxes using Quickbooks but this year am considering using a professional tax preparer. However, I want to see what kinds of things I'm missing out on by not using a professional.


A lot of people have started to file their own taxes using electronic software, but these tools can never compare to the personalized service you would receive from a professional tax preparer.
Filing your own taxes can be time consuming and stressful, even if you are using a program to help you. You may even find yourself searching the internet for tax laws in your area and then trying to interpret them to see if they are applicable to your situation. If you hire a professional tax preparer, you will only need to spend a few hours working with them and they will be able to clearly answer any questions you may have.
When you do not use a professional tax preparer, you are missing out on advice that you would never get through any software program. For instance, a tax preparer may tell you about a tax credit you did not know existed or help you decide when it is more advantageous to take one tax credit over another. Not only will a professional tax preparer be able to quickly prepare your taxes, but they will also help you identify deductions you may not have been aware of and missed out on, such as the cost to have taxes prepared. If you prepare you own taxes, and are not a tax professional yourself, you’ll most likely make the eventual mistake.
Most professional tax preparers not only use software to check your taxes, but they review them themselves several times before filing your taxes for you. While mistakes may still happen, they are much less likely with a professional tax preparer. Although most people are never audited by the IRS, having a tax preparer that can help you gather all necessary paperwork, understands the taxes you have filed and can work with the IRS on your behalf is invaluable if an audit should occur. Without a tax preparer you will be scrambling to gather all of this information and liaise with the IRS on your own.
Posted on: November 29, 2016
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