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PUSH Magazine
8 REASONS TO H I R E A N AC C O U N TA N T F O R YO U R TA X E S
We l l ov e r 1 3 5 m i l l i o n t a x retur ns were processed in 2 0 1 9 . Ju s t l i k e m o s t U. S. C i t i z e n s , yo u p r o b a b l y h av e yo u r 2 0 1 9 t a x s e a s o n f i l i n g o n yo u r m i n d . W h e n f i l i n g yo u r o w n t a x e s o r c o m p a n y ’s , t h i s c a n b e a d r a g o n yo u r m i n d s e t . C e r t a i n l y, f i l i n g yo u r o w n t a x e s c a n s av e yo u m o n e y, t h o u g h i t ’s n o t a l w a y s w o r t h i t . D o i n g yo u r o w n t a x e s c a n b e a m a j o r u n d e r t a k i n g, a n d the likelihood of making an error can skyrocket. Instead of absorbing all yo u r s p a r e t i m e a n d yo u r s a n i t y, c o n s i d e r h i r i n g a n accountant. Here are eight r e a s o n s w hy yo u s h o u l d h av e a certified professional file yo u r t a x e s . Certified Public Account a n t ( C PA ) v s. A c c o u n tant B e f o r e w e b e g i n , yo u should know the difference b e t w e e n a C PA a n d a n a c c o u n t a n t . I f yo u ’ r e a s k i n g : “ Wi l l a C PA a l s o f i l e m y t a x e s ? ” T h e a n s w e r i s ye s .
Both an accountant and a C PA c a n h e l p yo u f i n a l i z e yo u r t a x e s , b u t t h e r e a r e a few significant differences between the two. While an accountant cannot represent a client in a meeting with t h e I R S, a C PA c a n d o s o . I n contrast to an accountant, a C PA m u s t p a s s a n e x a m t h a t p r ov e s t h e i r e x p e r i e n c e a n d qualifications. 1. Lower the chance of an audit No person or business wants to be audite d . Re g r e t t a b l y, m a n y b u s i n e s s e s d o n’ t h i r e a C PA u n t i l i t ’s t o o l a t e. H o w e v e r, i f yo u h i r e a C PA , yo u c a n av o i d t h i s p r o c e d u r e a l t o g e t h e r. Yo u r c o m p a n y c o u l d b e s u b j e c t t o a n a u d i t i f yo u h av e t o o m a n y m i s t a k e s o r write-offs. An accountant c a n h e l p av o i d t h e s e k i n d s o f m i s s t e p s o n yo u r t a x r e tur ns. 2. IRS Correspondence Re s p o n d i n g t o t h e I R S o n yo u r o w n i s n o t t h e b e s t i d e a . I f yo u m a k e a n e r -
r o r, yo u ’ l l b e f o r c e d t o p a y the consequences. When yo u h i r e a t a x p r o f e s s i o n a l , yo u c a n b e c o m f o r t e d t h a t they’ll address the situation p r o p e r l y. 3. Save money on software There are many accounting software prog rams o n t h e m a r k e t t h a t yo u c a n u s e f o r yo u r t a x e s , b u t t h e y a l l h av e o n e t h i n g i n c o m m o n : t h e y ’ r e c o s t l y. I f yo u purchase a more inexpens i v e t a x f i l i n g s o f t w a r e, yo u ’ l l m o s t l i k e l y m i s s o u t on several helpful features t h a t yo u m a y n e e d . A c c o u n t a n t s h av e a l l t h e n e c e s s a r y, a n d m o s t u p t o d a t e, s o f t ware needed. 4 . N o Re q u i r e m e n t t o L e a r n Ta x L a w C h a n g e s. C PA s k n o w t h e i n s a n d o u t s of tax law adjustments from ye a r t o ye a r. A n d , t h e y ’ r e familiar with the laws and guidelines that alter and a d v a n c e yo u r c o m p a n y. I n m a n y c a s e s yo u c a n p o s s i b l y i n c r e a s e yo u r r e t u r n by
