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Why Should I Have a CPA Prepare My Taxes?

The professionals at Sterling Management (http://ask.fm/Sterlingmanagement) have been helping CPA firms for many years.  Sterling CPA advisors help those who are struggling to increase their revenues and make their offices more productive.  Using proven strategies and measurable goals, the firm is able to help CPAs attack the problems that face their businesses and achieve excellent results.  Just as CPAs help their clients save money by handling issues such as tax preparation, this firm helps CPAs save more of their own money by using the right strategies.

 

One of the issues that faces many CPAs is how to market themselves successfully in the face of a growing trend of "do-it-yourself," especially when it comes to taxes.  Prepackaged software offers a seemingly quick and easy way to do your own taxes without the expense of a CPA.  However, there are many good reasons to have a CPA do your taxes; some of these reasons are particularly compelling for small businesses and those who have substantial financial assets, liabilities or both.

Here are some reasons that hiring a CPA to do your taxes makes sense:

  • Your finances are increasingly complex.  If you have children going to college, high medical bills or any number of events going on in your life, it may be wise to seek professional advice before filing.  At the very least, you could miss substantial tax write-offs that could potentially save you a great deal of money.  At worst, it is possible that you could find yourself facing an audit and owing penalties and interest.

  • CPAs have the right training.  A CPA has undergone years of schooling as well as passed a state-sanctioned licensing exam that allows him or her to practice professionally.  This means that your CPA is highly skilled and understands the issues surrounding taxes at the state and federal level.

  • CPAs can maximize a refund.  CPAs know many ways to maximize refunds or minimize payments.  Often, a good CPA can save you at least as much as you pay in fees, and often you can save a good bit more.  CPAs are trained to look at the totality of your financial situation and see where things come together.  While you might have the raw data to put into a computer program, you may miss subtle cues that you could be taking a larger deduction or even miss these deductions altogether.

  • CPAs can integrate all aspects of your financial planning.  When you have a CPA who works with your finances, he or she understands the complete financial picture.  A tax preparer is focused only on your taxes, while a CPA sees the broader scope.  A CPA can help you understand how estate planning, financial planning and tax preparation work together to ensure that you pay the least amount possible on your income while still protecting your interests.

Ultimately, a CPA can help you find the best way to control your costs and maximize your deductions so that you can keep more of your money. Continue reading https://www.crunchbase.com/user/285379

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