Tax Preparation & Small Business Owners: Should You Hire a Professional?

Are you a small business owner who is starting your Tax Preparation this year?  If you are, you may be wondering whether or not you should use the services of a Tax Professional.  When it comes to determining whether or not you should use the services of a Tax Preparation expert, you may want to think about these pros and cons.

Tax Preparation by Tax Professionals Pro & Cons

When it comes to getting your Tax Preparation done by a professional, one of the many pros to having your small business taxes done professionally are the end results.  Most Tax Preparation that is done by a Tax Professional has higher returns and more deductions, because of their years of experience with preparing taxes.  This experience is what often guarantees that you will get better and more accurate results.

Another one of the many pros of having your small business Tax Preparation done for you is the knowledge of new or more obscure deductions that you qualify for, but are unaware of. All our Tax Professionals have up-to-date Tax Preparation training.  This current tax training often means that they are aware of any new small business deductions that you may be able to qualify for, as well as more mainstream deductions.  This is nice because most small business owners, like you, who do their own taxes, actually end up missing out on multiple opportunities to save money on their returns. Time is another huge factor for small business owners. Even if you have some Tax Preparation experience, you end up taking time away from either what drives your business which is sales, or punishing yourself and your family by doing your taxes at night, or on days off. You then have to go back and recheck your forms and submissions to ensure that your Tax Preparation was done correctly to avoid getting audited.

Professional Tax Preparation and Auditing Liabilities

Auditing liabilities, when hiring a Tax Professional to do your small business Tax Preparation for you, are greatly lessened for Tax return errors, or Tax Fraud. This is due to the fact that those who file their own taxes are often held under suspicion for any mistakes that are made. The view is not the same as when a professional Tax Preparation expert is used.  Most Tax Professionals do not make mistakes often, but if they do make one, you won’t end up being held responsible or liable for that mistake.

As we have demonstrated there are a large number of plus sides to doing business with a Tax Professional, there only one true con, or downsides to doing so.

Professional Tax Preparation Cons

Perhaps, the only con is the costs to getting your small business Tax Preparation done for you.  It is no secret that there is a cost associated to hiring the services of Tax Professionals, but what price will you pay if you don’t hire one. We at Tax Professionals always give you a FREE consultation on your present Taxes with an up-front price quote, and we also review your last year’s return to verify you received your maximum deductions!In most cases, the amount of money that you are charged has a direct correlation to how complicated and involved your returns are.  The harder they are to do, the more money you are likely to be charged. With this in mind the more complicated your Tax Returns are the longer they will take you and the more likely you will miss deductions and make mistakes, which will cost you money and possibly get you audited! Just to be Free of these concerns are worth the investment in a Tax Professional.

The decision as to whether or not you want to have your small business Tax Preparation done professionally or by you is yours to make, but, as outlined above, the pros far outweigh the cons.  If you are interested in having one of our Tax Professionals do your Tax Preparation please call the number on this site to set up your FREE No Obligation Consultation.