Tax Preparation; Should You Go It Alone?

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Tax Preparation Should You Go It Alone?
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• The decision to prepare your own taxes or hire a
  professional tax return preparer to do it for
  you, rests upon several factors, each one of
  which requires careful consideration.
• We all know how important it is to get our tax
  returns right, just as we all know how costly it
  can be if we get them wrong. So what factors
  should you take into account when trying to
  decide if you should tackle your taxes yourself,
  or leave it to the professionals? Here are the
  top three points of consideration

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• How complicated are your tax circumstances?
• If youre not running your own business, dont
  have money invested here, there and everywhere
  and have no dependents, then filing your own
  taxes should be reasonably straightforward.
• If, however, youve recently started a new
  business or have factors in your personal life
  that may change matters, such as a divorce, you
  became widowed or had children, then you may
  benefit from hiring a tax return preparer. They
  are also able to view your circumstances with
  fresh, unbiased eyes and may spot elements of
  your tax return that you had overlooked,
  particularly if your recent circumstances have
  added an element of stress and worry to your life.

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• How confident are you with number crunching?
• If you simply dont have a head for figures, find
  accounting too complicated or dont have a clue
  about financial reporting, then it may not be
  wise to file your own tax return. If youre
  running a business but struggle with these
  aspects of it, then hiring a tax return preparer
  would not only be sensible, but could save you
  and your business, money in the long term.
  Getting the figures right is essential to
  ensuring that your taxes are calculated properly,
  and second guessing at it just wont cut the
  mustard!

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• Do you have a sound knowledge of tax laws?
• The laws regarding your taxes and how they are
  filed can vary from state to state, and can
  change as often as the wind! Keeping up with
  changes to laws and how they may vary depending
  on where you live, can be a challenge to say the
  least, and nobody would expect the average layman
  to be able to stay up to date with them all.

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• Professional tax return preparers on the other
  hand, make it their job to stay on top of such
  matters and will always have access to the most
  recent and updated information regarding tax
  laws. Hiring one would certainly ensure that you
  conform to the relevant laws, and would result in
  you never having to pay fines for inaccurate or
  late, filing.

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• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax preparation service in
  Miami. If you are looking for bookkeeping
  services in Miami, Heyer Associates would be a
  right option.