Why Hire a Tax Advisor?

Why Hire a Tax Advisor?

 

Many people use tax advisors to help plan, prepare, and file taxes for personal and business returns. Many, however, choose to try and do this on their own. Whatever route you choose can work, just make sure you are choosing it for the right reasons and seeing the whole picture.

Business Owners:

  • A tax advisor can benefit business owners by providing access to timely, accurate information through bookkeeping work.
  • A good advisor can help a business owner form and maintain a financial infrastructure.
  • They can help advise the owner on taxable events and tax implications of decisions being made.
  • They can provide a check and balance against employee fraud. As your business grows, you want to make sure you have some control procedures in place to protect yourself and notice things before they become material.
  • Hiring a good tax advisor is the most efficient way to spend money. It also saves the business owner time. Time is money!

Individuals (Personal taxes):

  • Most tax advisors keep records of tax returns and related material. This allows for access to previous returns, in the event that the taxpayer would need them.
  • Good tax advisors invest in technology and services aimed at making your life easier and your information more protected.
  • Hire someone who responds in a timely manner.
  • Hiring a professional can save you time and money.
  • Hiring a professional who works year round allows you to sleep well, knowing that your taxes are done right and if there are any questions, you can always reach out and get answers.

 

For many people, cost is an important factor when deciding to hire a tax advisor. While costs associated with tax planning and preparation can frighten some taxpayers, the cost of not hiring someone can easily jump higher. Taxes can be complex and cost time. Many online platforms are designed for the masses, even though each taxpayer is unique. This can cause things to be reported on the wrong forms. Additionally, tax laws change each year and an advisor can help you navigate the changes.

If you have questions, or are looking into hiring an advisor, please give us a call. We are always happy to be a resource.

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