Are you considering preparing your own income tax return this year instead of hiring a CPA to do it for you? If so, you’re not alone. Each year, millions of taxpayers decide to prepare their own income taxes returns instead of going to a CPA in Williamsburg VA. However, before you take the steps to file your own income taxes, it may be a good idea to take a look at some of the advantages and disadvantages of hiring a CPA to file your taxes to make sure this is a good decision for you.
One advantage of hiring a CPA to file your income taxes for you is that they are experienced with tax codes so they will be able to help you find deductions that you may not know about. Also, having a CPA prepare your taxes is normally quicker than preparing them yourself. Plus, when a CPA prepares your tax return, they are there to answer any questions that you have. Unfortunately, if you prepare your own taxes and have questions there is no one to turn to for answers. Also, many CPA’s will guarantee their services if you happen to get audited.
Even though there are obvious advantages of hiring a CPA to file your income taxes, there is also a few disadvantages that you should consider, too. One disadvantage of having someone prepare your income taxes for you is the expense. If you prepare your own tax return you will be able to cut your preparation costs in half. Plus, if you have a CPA in Williamsburg VA prepare your taxes, you will likely have to make an appointment and many people prefer doing their own tax return because they can work on it at times that are convenient for them.
As you can see there are both advantages and disadvantages of hiring a CPA to prepare your tax return. If you feel that it’s a good idea to have a CPA file your return instead of filing them on your own, you should contact Carmines Robbins and Company PLC today to schedule an appointment. They are happy to schedule an appointment for you to prepare you taxes. Plus, if you need any other services such as financial planning or help with payroll taxes they are happy to provide those services for you, as well.