If this will be your first year filing a tax return, don't make the mistake of handling the paperwork for yourself. Filing your taxes is a complex and confusing process, especially with all the recent tax law changes. One mistake could end up costing you dearly. To make sure you avoid those mistakes, and to reduce the stress associated with tax season, you need to have your return completed by a professional. Here are just four of the benefits you'll receive from using a professional tax service.
Confirm Correct Personal Information
If you haven't looked at your tax forms yet, you need to. There's a lot of personal information that needs to be provided. If anything is missing, or the information that's provided is incorrect, your tax return won't be processed. Instead, it will be returned to you for corrections, which makes the entire process begin all over again. However, when you use a professional tax preparation service, your tax preparer will go through every form to make sure that all the information is correct.
Reduce Risk of Simple Math Errors
If you're able to avoid making mistakes on your personal information, like switching the numbers on your social security number, you'll still need to make sure that all the math is done correctly. Simple math errors can throw your entire tax return off. A simple math error can cause a miscalculation in the about of the taxes you owe, or the return you should be receiving.
That means your math error could lead to you either overpaying on your taxes or not getting the biggest return that you should. Worse yet, it could result in you underpaying your taxes, or receiving more than you were entitled to on your refund. You can avoid those simple math errors by having a professional prepare your taxes this year.
Ensure Proper Forms Are Used
If you've never filed taxes before, you may be surprised by the number of forms that are required. There are forms for everything, and each one must be filled out correctly. Not only that, but some forms have additional forms that are required for them. Luckily, a professional tax preparer will know exactly which forms you need and how to ensure that they're filled out correctly.
Provide Assistance During Audit
If this will be your first experience filing a tax return, you don't want to end up facing a tax audit. Tax audits can be downright frightening, especially if you have to go it alone. When you have a professional tax preparation service file your taxes for you, you'll enjoy two benefits regarding audits. First, your tax return will be less likely to be selected for audit. Second, if it is selected, you'll be provided assistance during the audit.
For more information, contact a company like The Callen Accounting Group, PLLC.Share