Didn’t tax time just end? With 2021 rapidly approaching, we’re all about to get our tax information from our employers once again. If you’re one of the millions of Americans eager to get their tax refund, you’ll probably want to get on the task as soon as possible. Unfortunately, income taxes can be confusing and overwhelming for many people, especially if you work more than one job, have been collecting unemployment or have other unusual or complicated financial situations. That’s why it’s smart to hire a tax professional to handle your income taxes—their expertise ensures they’ll be done right and will get the maximum refund possible.
Here’s why most people agree that getting professional help with your tax returns in Jamestown, ND is a good idea:
- You don’t want to risk getting it wrong: Every year, people do their own taxes and find out that they owe a lot more money than they planned, or that an error they made in the past has cheated them out of their hard-earned return. Working with a professional guarantees that you won’t waste your time or your money. Tax return software can be helpful, but there’s no substitute for individual attention from a real human.
- You’ve got a complicated tax situation: If all you have to report is your W-2 income, you can probably handle your taxes yourself—but if you’ve got retirement accounts, business expenses or children, you should get professional assistance. It’s easy to make a mistake that can cost you thousands of dollars, or earn yourself an audit from the IRS. Avoid the hassle and the liability by working with a pro.
- Tax law confuses you: Tax law is a labyrinthine torture device, if you ask most laypeople. Even when it seems relatively straightforward, the legal definition for certain items can be a lot different than how it appears to you. Plus, it changes nearly every year. That’s normal, but it also means there’s plenty of room for error. Unless you want to get a degree in tax law before the April 15 deadline, take your taxes to a professional.
- You want to maximize your returns: Depending on how much you earn, you probably pay a significant chunk of money to the federal and state governments each year. Those earnings are yours, and most people want to get as much back as possible. Working with a professional can help you maximize the amount of money you get back.
- You need help planning ahead: Finally, when you work with a tax professional, you’ll also get advice about what to do for the next tax season. Do you need to invest more into your retirement account, adjust your withholdings or save your business lunch receipts? Your tax professional will let you know what to watch out for so you’re prepared for next time.
When you need professional help with your tax returns in Jamestown, ND, reach out to Craig S. Hanson, CPA to schedule an appointment. We look forward to working with you!