Deciding who to hire to prepare your taxes is a huge undertaking, and there are many factors to be considered. Many people claim to be qualified to help you complete your tax preparation, but some choices are definitely better than others. Read on to discover why hiring a CPA to do your taxes could be a good financial move for you.
Continuing Education
Tax laws change more quickly than most people can keep up with. Unfortunately, one small change in the tax laws could result in an individual or business owner losing money if the change is not properly accounted for on your taxes. Hiring a good CPA eliminates the need for you to stay up to date on tax changes. Because certified public accountants are required to take continuing education courses and keep their knowledge fresh at all times, your CPA will let you know when there are tax changes that could affect your financial future.
Making Decisions
Many people make financial decisions based on the financial return that they expect to see once their taxes are completed the following year. Unfortunately, some of these same people make assumptions about their taxes that may not be correct. For example, if you plan to purchase an eco-friendly car for home or business use, a CPA will be able to advise you about which car to purchase so that you can take advantage of tax credits that will save you money. Without that type of knowledge, you could be making poor decisions that won’t produce the expected financial return.
Representation During Audits
Being audited by the IRS can be a frightening ordeal. If you’ve hired an accountant, he or she won’t be able to represent you when you need to defend yourself against the IRS. This is because the IRS classifies accountants who are not certified as “unenrolled preparers”, which means they cannot represent you when it comes to tax matters. Because a CPA is well-versed in tax law, the IRS considers them more qualified to help you survive a tax audit.
Tax Preparation in Manhattan is a serious matter. While an accountant can help you complete your taxes, a CPA is more qualified to help you with all of your tax preparation and audit representation needs. If you need of a professional to complete your taxes, contact C York CPA to find out how you can maximize your return on investment this tax season.
