Personal Tax Preparation

Why having a CPA do my personal tax preparation is importantimage-personal tax preparation-1040-W2

As the IRS continues to improve its tax screening software and capabilities to analyze data, they find more efficient ways to identify possible errors and omissions that throw-up up red flags making letters of demands more common.

As a personal tax preparer in Charlotte, here are a couple of questions we recommend you consider:

  • Are you ready if they do?
  • Who is preparing your taxes?
  • Do they know what they are doing?
  • How many years have they been preparing taxes? Are you visiting a big box, personal tax preparation services to save $25-$50 over a professional?
  • Are you preparing your taxes yourself?
  • If so, how long are you spending on preparing them yourself and how do you know they are correct?
  • Do you know there are 50,000 plus pages in the tax code?
  • Are you aware that tax laws are constantly changing throughout the year?

TurboTax and other DIY tax software can be time-saving tools but only if you understand all the tax laws and all the nuances of the software.

Consider that a CPA has to go to school for 6 years, practice for a period of years and pass a rigorous exam before becoming a Certified Public Accountant.  Often times during tax season, they are still researching issues and nuances of the tax code as they prepare personal or corporate tax returns. Yet, an individual with no knowledge, experience buys into the DIY message that taxes are not that complicated.  Just answer a few question, fill in some data and press submit and you’re done.

Often times, a tax return prepared by individuals using a DIY software is incorrect.  Give us a call and let us assist you and make sure your tax return is prepared correctly.