Tax season is officially here, and it’s important for you to get started quickly so you can get your tax return back as soon as possible. While you might consider yourself capable of doing your taxes yourself, you stand to save yourself a lot of time, headache and cash by going with a professional to handle your 2019 tax preparation in Oklahoma City, OK.
Here are just a few reasons why this can be a valuable decision on your part.
Changes to the tax code
This is the biggest reason why more people will opt to work with tax professionals this year. Even if you’ve done your own taxes in past years, this year features some of the biggest changes to the tax code in decades, so what you are used to doing with your taxes may no longer apply. A tax preparation professional is guaranteed to be fully on top of all of the changes to the tax code that came with the 2017 Tax Cuts and Jobs Act, and will be able to better advise you about how to complete your taxes in a way that will net you the largest return possible.
While there is an initial investment associated with the use of a tax prep professional (compared to the ability to do your own taxes for free or a very low cost), you have to think of the other potential costs you’d avoid by working with a professional. First, your time is absolutely worth some money. Is it worth spending hours laboring over the paperwork yourself to avoid the tax prep fee? And what if you do something wrong? This could potentially cost you hundreds or even thousands of dollars. Ultimately, it pays to hire a professional, and gives you a lot of peace of mind in the process.
One of the things you’ll find in working with a tax prep professional is that they will have a keen eye for which deductions you qualify for, which you might never have picked up on yourself. This provides you with an opportunity to save quite a bit more money on your taxes than you otherwise would have.
Advice for future years
When you’ve got a tax professional you trust, you can build a relationship with them that will benefit you in future filing years as well. Based on the paperwork you provide to them this year, they might be able to provide you with advice for future years that can make your tax filing process easier, or that can get you more organized and better able to file your own taxes in the future. Many of these services also offer tax counseling for the elderly and other tax aid programs that can be quite helpful and valuable.
For more information about the various things you should know about tax preparation in Oklahoma City, OK, we encourage you to contact the team at Chrisman & Chrisman Financial Services today to speak to a professional in the field.
Categorised in: Tax Preparation
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