Why use a tax professional?

DIY projects have taken off in popularity over the last several years, and it’s not difficult to see why. By doing a project yourself, you’re in control of the price, the pace, and the quality. You no longer have to turn to a professional to get something done – these days, you can turn almost anything into a DIY project.

Anything, that is, except for your taxes.

While of course you can elect to do your own taxes, here’s why hiring a professional is smarter:

• It’ll save you time. Doing your own taxes isn’t an afternoon project. It’s a long, intricate process, which may become more or less difficult based on your personal financial situation. Also, consider the circumstances under which you may be working. Are you confident in your math skills, or will you be spending an extra half hour per blank space just figuring out how to calculate your answer? Will you be constantly interrupted by your spouse, kids, or pets? Time is money, after all – and by getting professional tax help, you’ll be saving yourself both.

• It’ll save you from making mistakes. When it comes to your taxes, there’s no room for mistakes. One simple error could lead to months or even years of stress – as well as to audits, interest, and costly penalties. After you file your taxes, the IRS has three years in which they may investigate your case. Making a mistake that could haunt you for that long just isn’t worth it.

• It’ll maintain your peace of mind. Okay, you did your taxes – but did you do them correctly? If you’d rather not worry about facing IRS audits and penalties after the fact, using a tax professional is the way to go. Tax pros know the ins and outs of tax filing requirements – including all the yearly changes and additions. If even the National Taxpayer Advocate is saying the Tax Code is too tricky for taxpayers, it’s probably best to seek out a professional to help.

• It’ll save you money. If you think hiring a tax professional is out of your price range, you’re about to be pleasantly surprised. A survey by the National Society of Accountants reports that professional tax preparation will only set you back an average of $273. Of course, this fee varies between regions and offices. But keep this in mind: If you make a mistake on your taxes, the cost of an IRS audit, penalties, and interest will probably be much higher. Plus, your tax professional may be able to find certain credits or deductions you wouldn’t have known to look for, which could mean a bigger refund for you.

Using a tax professional is all benefit and no risk. Our professionals here at Legacy Tax Professionals have the knowledge and expertise to make your tax preparation process as simple as possible. Contact us at (817) 994-4383 to see how we can save you time and money on your taxes today.