Every April, taxes are due in the United States. Many people choose to file their own taxes using software designed for that purpose. However, you can also choose to have your taxes filed by a professional. You may wonder if hiring a tax preparer is worth the cost. Here are five situations when you should consider it:
1. You are a freelancer.
Freelancing gives you unparalleled freedom. You have the opportunity to choose your own hours and your own clients. However, freelancing can create additional headaches at tax time. A tax preparer can help you gather your 1099 forms and ensure you pay the right amount in taxes. They can also help you deduct common freelancing expenses, such as home office and internet costs.
2. You own a small business.
Small business owners also work for themselves, but they often have additional considerations that freelancers lack. For example, many small business owners have employees that they must pay. They may also have a health insurance plan set up for those employees. A tax preparer can help small business owners file their taxes without missing any important information that could lead to an audit.
3. You have an unusual tax situation.
Some people have unusual tax situations due to their citizenship status, marital status, or other factors. Living in multiple states during a single year or owning property and assets in another country can make filing your taxes difficult. Tax preparers understand the tax code inside and out. They can help you manage any questions that arise while filing your taxes.
4. You are a busy person.
Some people are employees who receive W-2 forms but are very busy. You don't need to be a business owner or have an unusual situation in order to take advantage of the services of a tax preparer. If you'd simply like to save time and delegate the task of filing your taxes to a professional, you are free to do so. Working with a tax preparer is easy. All you need to do is bring the appropriate documents to your tax professional at the designated time, and your tax preparer will take care of the rest.
5. You are not confident in your ability to file taxes on your own.
Finally, some people are not confident in their ability to correctly file their taxes. This is nothing to be ashamed of. However, it's always best to err on the safe side when it comes to dealing with the IRS. A tax preparer can prepare your taxes quickly, efficiently, and correctly.
For more information, contact a tax preparer.