How Using a CPA to Do Your Taxes Pays Off

With an abundance of free and affordable tax preparation tools out there, many taxpayers are asking themselves if it’s still worth it to hire a CPA to do their taxes. While it can seem like the antiquated way of doing things, trusting a CPA to handle your tax paperwork can result in large tax savings, less visits from the IRS, and, most importantly, peace of mind.

Below, we’ve outlined 5 reasons it pays off to have a Certified Public Accountant prepare your taxes.

1. Getting started off right makes a difference

Starting a business is a complicated process that has many components to it. Being the best at what you do and having a solid business plan doesn’t necessarily mean you know how to set up your books. Let a CPA set up your accounting systems so that your records can properly show you just how good you are. Being set up for success is a better place to be than trying to back-track and fix things later.

2. Tax planning benefits

CPAs can help you make key decisions that may result in less headaches come April 15th. We can analyze your specific situation and make suggestions tailored to you. Whether it’s a specific retirement account, tax credit, or estimated payment, we would love to help you out.

3. Constant change to tax laws

Each year brings new changes to tax laws, regulations, shifting brackets, and more. CPAs are required to complete continued education courses to stay up-to-date with annual tax code changes. Us nerds love staying up-to-date on these changes. Why? It’s part of our customer service. When your roof leaks, we don’t expect you to call us. But, when you take a home equity line of credit out to fix it, call us! We want you to know that the interest you pay on it may be deductible!

4. Handling IRS audits

CPAs see more tax returns in one day than most people see in one decade, so we know what sticks out! A CPA can help you stay in line to lower your chances of an expensive and time-consuming IRS audit. In the event you get a notice, let us know. We work directly with the IRS and state tax authorities. We can help you get through it strategically to save you time and money – not to mention stress relief!

5. Issues that affect you

Income tax, payroll tax, personal property tax, gift tax, sales tax, and tax and tax and tax. There is so much to keep track of. Not to mention business licensing and other requirements. Don’t think of a CPA as a certified pain in the -bleep-. Think of us as a tool for you to maximize benefits and stay protected from the unknown.

Hire a Professional

So, if hiring a professional to handle your headaches sounds like a good idea to you, let Innes & Lotito help you! Remember, a good tax professional goes way beyond preparing your tax return. Contact us today to get started.