I always say, let the professionals do what they are good at. Packey Law Corporation, we do taxes. Tax preparation, audit representation, resolution, business consulting and TAXES. We are professionals, so let us do your taxes.
Cameron Huddleston writes an excellent article about why people should no longer do their own taxes. People contact our office many times when their tax returns come back audited, incorrect, or missing information. IRS does treat your return differently and is more likely to be accepted if it is prepared by a reputable tax preparer. Huddleston’s article goes on to indicate that the IRS knows that most tax preparers will not put their reputation on the line for questionable deductions. This is true. Tax preparers are held to a standard of honesty and integrity. If a tax preparer violates the rules of tax preparation, they can be fined and the fines are significant which can put a preparer out of business.
So why should you let tax professionals do your taxes? Well, their is peace of mind that the taxes are done properly. Maximizing your deductions according to the tax codes. Having a professional to ask about taxes throughout the year such as taking a distribution, selling real property, getting married, buying a home, etc. Many life changes affect your taxes.
Since Packey Law does business formations, tax advice on whether to create an LLC, S Corp, C Corp, are all questions you need to know before creating a new business because it affects your taxes not only to the business, but to you personally.
I wouldn’t do my own electrical work on my home because of potential catastrophic error. Don’t do your own taxes for the same reason. You may end up in a audit or can lead to a tax liability where penalties and interest can accrue at astronomical rates. If this happens, we can help you, but why not try to reduce that potential issue.
Huddleston, Cameron, Wed, January 13, 2021, 12:00 PM PST, https://www.gobankingrates.com/
