Should I Hire an Accountant to Do My Taxes?

Should I Hire an Accountant to Do My Taxes? - Accountants

Hiring an accountant to do your taxes has innumerable benefits, ranging from saving you time and money to providing financial and legal counseling. Hiring an accountant is generally not too expensive (fees range from roughly $25 to $300 per hour), and the money your accountant can save you is almost always worth the fee. Here are are few reasons you may want to hire an accountant.

Should I Hire an Accountant to do My Taxes?

1. If taxes, money, and percentages aren’t things you like dealing with, hiring an accountant is definitely recommended.

2. If you own a business, you probably spend all of your time working in your area of expertise and not in keeping up with tax law and regulations. You can count on your accountant to be an expert in his or her field, even as you are an expert in your field. Without an accountant to help you structure your business finances, you may miss out on the opportunity to save quite a bit on your tax bill.

3. If you are going through a major life change, such as getting married or divorced, buying a new house, having children, preparing to retire, etc, you should probably hire an accountant to do your taxes. All of these scenarios give you the opportunity to save on taxes, if you know the right questions to ask and the correct records to keep.

4. Hire an accountant if you plan on making investments in the stock market, real estate, or other areas in which you may be unfamiliar with tax law. Without knowing about special tax breaks and incentives, you may well pass up potentially large tax savings.

5. Another benefit to having an accountant is the extensive business network that your accountant is part of. An accountant typically serves clients in a wide range of industries and can be a great source of networking for both you and your business. Networking can enhance business growth as well as provide you with useful contacts in a variety of fields.

Additional Help

If you need help finding a reliable personal accountant or CPA, consider using TalkLocal to find a tax specialist for you. TalkLocal is a free service that will connect you with top-quality, accounting companies in your neighborhood within minutes. Just enter in your specific problem, location and availability, and up to three companies will call you directly within minutes!

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