It’s that time of year when tax season is right around the corner. What does that mean for you? Usually, it means gathering all your tax information and filing your tax forms. Bear in mind you may know little about accounting. You can make a smart and cost-effective decision to hire an accountant and let them do the heavy lifting. Here are a few reasons why an accountant is a great decision for you:
- Save Time. If you don’t have the time to devote to doing your taxes then don’t. An accountant’s sole job during tax time is preparing and filing taxes. Outsourcing this task will save you time to properly fill out the forms. A rushed incorrect tax filing can lead to problems with the IRS and can cost you in fees.
- Less Stress. Do numbers read like a foreign language? Does getting all of your tax information together stress you out? Accounting is a complex subject that few understand. An accountant knows and understands the tax filing system intimately. Take your tax documents and let the accountant process the information. Chances are they understand the process better than you.
- Finding and Itemizing All Your Deductions. This can be tricky since President Donald Trump’s 2017 tax laws have changed deductions. If you have a mortgage, children, and make significant charitable donations, this can be challenging to navigate. An accountant can take all your possible deductions and maximize your return.
- A Big Change in Life Last Year. Did you buy a house or get married? Life events happen as buying a house or getting married. Is this the first year you have to document them on your taxes? These life events are great for you but make your taxes more complex. If you have to file it for the first year an accountant will know how to navigate the process correctly.
- You Own a Business. Do you know how much income your business made last year? Is your business ready for an audit? An On pay study found that 28 percent of businesses have been audited by the IRS. An accountant will take the worry and time out of doing your own business taxes. Plus, if an accountant does your business taxes you can continue to focus on your business
- Saving You Money. Taxes can get complicated. It can also be a very costly process. If you file your taxes by yourself then you can get face fines from the IRS for doing them wrong or reporting something incorrectly. With hiring an accountant, you won’t have to worry about making costly mistakes. Hiring a professional will allow you to tax prep, and able to receive and save as much money by following the laws set in place.
SWVA Tax & Accounting is a full-service accounting firm that specializes in helping small businesses. SWVA Tax & Accounting has the knowledge and experience to help you. They pride themselves on doing taxes right the first time. They will save you the time and stress that is involved in the accounting process. With offices located in The New River and Roanoke Valley, they can serve all your accounting needs. Click here to schedule an appointment online today with SWVA Tax & Accounting. Or call SWVA Tax & Accounting 540-250-3198. We’ll run the numbers, while you run the business.