Should You Have A CPA Do Your Taxes? Why The Answer Is Usually Yes

When tax season comes, many taxpayers stress about the process, the calculations, and the filing. If you're facing a rapidly approaching tax season, you might have thought about just going to one of those big-name tax services that pop up every year and paying them to do the work for you. What you may not realize is that you might actually get more benefits from working with a local CPA instead. Many people associate a CPA with business taxes, but they actually do much more than that. Here's a look at a few of the reasons why you might want to reach out to a CPA instead of a commercial tax preparer.

CPAs Can Save You More Money

One thing that many people find when they opt to work with a CPA instead of a traditional tax service is that their CPA actually ends up saving them more money in the long run. That's because most CPAs don't just rely on an automated tax completion program to do the work for them. They look at each unique situation, and they craft tax deductions that apply directly to that situation. 

For example, they might identify a home office or mileage deduction that the standard tax software wouldn't identify. They can often think of major purchases you've made that qualify as deductions, too. All of these things will save you money by reducing your tax liability. 

CPAs Maintain Your Records

If you've had a habit of disposing of or misplacing records in the past, you may find that working with a CPA to handle your finances and taxes is the best investment. That's because your CPA will hold onto all of the records associated with the tax filings that they complete for you. In the event that you're ever audited or have to reference those documents, the CPA will have them on file so you don't have to worry about having thrown them out. 

CPAs Can Attend Your Audit

Depending on who you choose to complete your taxes, you may or may not get audit support. Some companies use tax preparers that are not authorized to represent you with the IRS, which leaves you facing your tax audit by yourself. When you work with a CPA, though, you don't have that worry. CPAs are licensed and are authorized to represent you as part of an IRS audit, so your CPA can attend with you and help you navigate the process.

These are just a few of the many reasons why you should consider working with a CPA to deal with your annual tax filings. Talk with a CPA in your area today for more information about CPA tax preparation