With taxes looming around the corner, everyone is rushing to see which tax preparation service, or procedure is the best way to go through to save up time and produce the most correct means of filling for your taxes. Some people have opted for web applications and computer programs that can process all the data while others have opted for hiring an accountant, the reliable numerical wizard of the world that loves to do everyone’s taxes.
However, there are many stories floating around about bad accountants and other such experiences that people had with them so to help you make up your mind, here are the pros and cons of hiring an accountant for your tax preparation needs:
Tax preparation for most people is a lengthy and time consuming activity. Usually taken up by the end of the year, one must look through a lot of old files and hunt up any missing records. Hiring an accountant will rid you of the time consuming task and you can trust your accountant to work on your taxes while you can divert your mind and your energy on some other important task at hand.
Accountants have a greater understanding of Math as compared to other people. Due to this, they are less likely to create common blunders and errors in the process. An accountant also knows how to prepare your tax return properly. You might know about the filling process but an accountant knows all that and more. With their deep awareness of all the economic changes, they are able to predict and fill in tax forms in such a manner as to reduce the costs to its bare minimum charges.
Cost and Credentials
With so many new accountants popping up daily, it’s best if you look to get a certified and accredited accountant. However, an accountant that has a certification can cost higher and the cost of hiring one can at times seem exorbitant and too high for people to afford. Although an accountant’s prices can range from high to low, it’s not exactly something that most people look on as a necessity. Often times, most people opt to do without the accountant. Every now and then, people are capable of doing their own taxes, but most times the option of doing your own taxes can result in penalties that you could have avoided with hiring a professional accountant to do your taxes.
With a new trend of identity theft popping up in tax returns, it is very important to get an accountant that you know you will trust. For tax preparation purposes, accountants are usually exposed to the original copies of your financial details and statements, which is sensitive information. In the hands of the wrong person, a lot of havoc can be wreaked under your name, not to mention other actions for which you could be legally held responsible for.
If you require any more information regarding trustworthy accountants, tax preparation and procedures involved with the latest updates, please feel free to contact us at 407-344-1012 for more information. God Bless.
Freedomtax Accounting is a full service business accounting and tax firm that offers corporate and personal tax services for the Kissimmee, Hunter’s Creek, Buenaventura Lakes, St. Cloud, Orlando, Orange County, Osceola County, and surrounding areas in Central Florida. We specialize in bookkeeping, payroll, corporate taxes, incorporation services, personal tax returns, tax planning, and federal tax debt relief. Schedule your FREE Consultation with one of our accountants or IRS enrolled agents to solve any tax problems you may have, or if you wish to incorporate your new business.