Tax Day is right around the corner, and if you haven’t filed your 2018 income taxes yet, it’s time to start pulling papers together and getting to it. You never want to wait until the last minute to file your taxes—that’s how mistakes get made and people fall into financial trouble.
If you’re struggling with how to do your taxes, don’t attempt to do them yourself. Filing income taxes can be really challenging depending on your employment situation. Instead, reach out to professional tax services in Jamestown, ND for assistance.
However, even if you’ve been filing your own taxes for years, you may still want to consider professional help this year. Here’s why.
The tax law changed for 2018
The big thing every accountant is talking about this year is that there were some changes to the tax law starting with the 2018 tax year due to the passing of the Tax Cuts and Jobs Act (TCJA) in late 2017. Because of the TCJA, a lot of things you might be used to doing with your taxes could have changed or been removed entirely. For example, quite a few tax credits were changed or eliminated, and the standard deduction has nearly doubled from previous years.
All these changes leave room for mistakes or confusion. Fortunately, professional tax preparers have spent the past year studying the changes to help you navigate them more easily and understand how they can affect you. Don’t hesitate to work with a professional if you’re unsure of the changes and how to file in your best interest.
Make sure to think ahead
Alongside changes to the 2018 tax law, another thing to keep in mind is that preparation is the key to minimizing tax problems in the future. If you weren’t prepared for the changes this year, your refund or tax burden might surprise you.
That’s why it’s so important to utilize tax services in Jamestown, ND. By working with a tax planner, you can get up to speed on the changes that will affect you down the road and adjust your financial strategy in order to avoid financial struggles later. After filing this year, ask your tax preparer how you can set yourself and your family up for success for the 2019 tax year.
Put your financial security in professional hands
Finally, even if you know your way around a tax form, it’s still a good idea to consult a professional for tax advice and strategies that can save you money. Unless you’ve studied tax law yourself, there are more than likely a few things you might have missed that could reduce your tax burden and even increase your refund. A professional can help point you in the right direction to capitalize on these things.
Have you decided to rely on tax services in Jamestown, ND? Contact Craig S. Hanson, CPA! We are a full-service accounting firm skilled in tax preparation and planning for businesses, partnerships, corporations, individuals and more. We also offer other accounting services such as payroll and bookkeeping for your financial peace of mind. Call today to schedule a free consultation!