Issue 10.11
Ask yourself these questions.
1. Do I have time to do my taxes correctly?
The IRS estimated that the average taxpayer needed 21.4 hours to do their tax returns. All the organizing and documentation to do it correctly require time, time you don’t get paid for.
2. How long will it take me?
Having your taxes done can cost $50 – $100 for a simple return to several thousand dollars for a complicated return. The average itemized return is around $200.
Note: Any fee you pay may be deductible on your next year’s return.
3. Do I know the tax code well enough to take advantage of all I’m entitled to?
The tax code is complicated, 60% of Americans have professionals do their tax returns. There have been major changes in 44 of the past 47 years. Several changes were passed in 2010 that could affect you; such as the child tax credit and retirement funds.
If the lack of time, skills or the complexity to do your own taxes concerns you, look for a tax professional who will give you your money’s worth. With a professional tax preparer you pay for advice, not typing skills.
The key is finding an individual who specializes in taxation and keeps up with tax trends and the tax law. To hire a tax professional this is what I look for.
1. 1. A good tax preparer will ask a lot of questions. You’ll get your money’s worth is if the preparer understands what you do and how you do it and then scours for every legitimate deduction.
2. 2. A good tax preparer teaches you not only on what’s allowable but also how to structure your activities to minimize your tax exposure.
3. 3. A good preparer focuses not only on your 2010 transactions, but also on how you can reduce your 2011 taxes.
These are important things to look for in a tax professional. They are also what we here at the Tax Guys pride ourselves in doing for our clients. Don’t wait, avoid the panic. Now is the time to call for a consultation and let us help you make a good decision for you and your family.
Call the Tax Guys Today 435-705-5101.