When you work a full-time job and have a family to raise, you may not have a lot of time left over to sit down and do your taxes. However, you also cannot leave them until the last minute. It's important that you get them filed way before the deadline. As such, instead of trying to do them on your own, you can hand them off to someone who is trained and experienced in filing them for you. Consider outsourcing your tax preparation to a certified and experienced accountant.
Finding Exemptions and Deductions
When you hire an accountant for your yearly tax preparation, you can have them find out what exemptions and deductions for which you might be eligible. You may be able to lower your tax burden by claiming the Earned Income Tax Credit, for example. You also may be eligible to claim child care tax credits if you use daycare services for your children.
Your tax preparation accountant can find out what deductions that you can take on your returns and what exemptions for which you may be eligible. They can lower the amount of money that you have to pay to the IRS with them. Your accountant may even be able to get you a refund instead of you owing money that year.
Your tax preparation accountant can also make sure that your returns are filed on time each year. You typically must have your returns filed and submitted by April 15. Your accountant can start work on your returns as soon as you hand over your income statements and receipts. They will make sure that your taxes are filed well before the annual deadline.
This timely filing helps you avoid incurring expensive penalties and fines for filing late. You can also avoid being suspected of tax evasion and possibly facing jail time for not filing your returns as required.
In addition, your tax preparation accountant can represent you in an audit. They can explain to the IRS auditor why your returns were filed in a certain manner and why you claimed certain exemptions and deductions.
Overall, an experienced accountant will provide you with professional tax preparation. They can identify what exemptions and deductions that you can legally claim on your returns. Your accountant can also file your returns on time and can represent you during an IRS audit. For more information, contact a tax preparation service.