2 Reasons To Have An Accountant Assist With Your Taxes

Posted on: 18 January 2018

Taxes can be one of the most complicated and frightening issues to have to deal with for many people. Thankfully, hiring an accountant to assist you with your taxes is a great way to simplify the process by a great deal. Here are two reasons to employ an accountant to assist with your taxes.

They Can Help Minimize The Chances Of Issues With The IRS

Making a mistake or omitting something when filing their taxes and getting noticed by the IRS is what tends to make tax season so stressful and frightening for people. However, when you hire an accountant to assist with your taxes, the chances of a mistake or some other issue with your taxes earning the ire and notice of the IRS will be greatly minimized.

Additionally, if the IRS does choose to contact you about your taxes and wishes to perform an audit, an accountant can be there to assist you with that aspect as well. This is particularly useful because when the accountant is with you at the audit, they can often have the audit concluded without any penalties to you by explaining why the taxes were filed in the way that they were and to address any concerns that the IRS bring up.

They Can Help You Find The Most Deductions And Credits Possible

Finding the most deductions and credits possible is an area where an accountant can absolutely shine when providing you with tax assistance. Unlike a piece of tax preparation software, a certified public accountant will be able to explore your entire financial situation and other aspects of your life to discover which ones could earn you a deduction or credit. When you use tax preparation software, it typically only looks for the most common deductions, which can result in you paying more in taxes than you really should have to.

This can result in you having a much smaller tax payment to make or you receiving a much larger tax return. By minimizing your tax burden and maximizing your potential return, you can save a substantial amount of money and even get money back that you can use to pay some bills or feed back into your business

Sit down with an accountant from companies like Carmines Robbins & Company PLC to discuss how they can assist with your taxes. Having an account assist with your taxes can help minimize the chances of issues with the IRS and can help you find the most deductions and credits possible.