As income tax preparation becomes more complicated, most individuals and business owners seek out tax help each year. Technological advances have made it relatively easy for some people to file their taxes online without needing a professional tax preparer, but there are many situations in which you would be ill-advised to go that route. In these cases, reaching out for tax help is the best course of action.
- Previously audited- Even if you got through an audit relatively unscathed, it can shake your confidence about accurately completing your tax return. Also, if the IRS did note something you did incorrectly and wasn’t too hard on you because it was your first time making it, they aren’t going to be as forgiving the next time. Let a tax professional keep you out so you don’t end up with a strike on your record.
- Complex situation- If you have business or personal financial transactions that you aren’t sure how to deal with, don’t run the risk of guessing. Obtain tax help so you don’t report the information incorrectly and potentially cost yourself extra in taxes or leave yourself open to an audit.
- Unusual tax write-offs- If you have an expense that you aren’t sure is a bona fide tax write-off, you should seek tax help to be sure. Also, don’t go by what a nonprofessional tells you or what the tax law was years ago that has you thinking it is deductible now. Tax laws change every year. You should also seek tax help for planning purposes so you can learn what new deductions are in play that could help you minimize your tax liability.
- First business return- Even if you plan to do your company’s taxes yourself going forward, you should get tax help with the first one. There are many favorable tax credits and other deductions that you might not realize apply to brand new businesses.
If you would like tax help for your personal or business tax filing needs, reach out to us at TaxCom, LLC. While we do offer tax preparation services if you choose to go that route, we are also happy to act as a tax consultant should you only need occasional tax help when filing your own return. We understand that not all tax filing is complicated, but we also know that it is easy not to know about new developments that can affect you. Let us help. Contact us today to learn more about our accounting and tax help services in Raleigh, North Carolina.