Should You Hire A CPA? 3 Reasons Why You Should
Posted on: 28 July 2020
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Filing your own taxes may have been simple back when you had a part-time job and had absolutely nothing at all to claim. Now you're married with kids, your wife has a side-job, you have a mortgage, student loans, child care, and a lot of other things you didn't have to think about before when you filed your taxes yourself. Now things are a little more difficult. This is when a certified public accountant (CPA) may come in handy. If you aren't sure if you need to hire a CPA, read on for a few reasons why you should.
1. Your Taxes Have Gotten More Complicated
Again, you've come a long way from that EZ form you used to use in your late teens and early twenties. Now you have a lot more involved in your taxes and may have to file long form. If you have a lot on your taxes that you don't understand, you should leave the work to a professional accountant to ensure you get everything back you should be getting back and if you end up owing money to the IRS, you claim everything you can claim in order to lower your taxes as much as you can. A CPA has the know-how to get this done for you.
2. You Are Self-Employed
If you are self-employed, your taxes change significantly. You have a lot more involved in your taxes, as you are essentially your own business. You have a lot more you can claim, and you have a lot more to have to keep track of. A CPA can help you do these things and can help you get your taxes filed with all of the proper paperwork needed in order to get this done. As a self-employed person, you should be paying your taxes quarterly rather than yearly, and a CPA can help with this as well.
3. You Have Absolutely No Idea How To File Your Taxes
Whether your not your taxes are complicated, if you aren't sure what you're doing at all, you should leave this to a professional accountant. Some people simply have zero interest in filing their taxes themselves, but it's necessary to file them each year. If you just simply don't understand how to file your taxes, don't have the time, or just don't want to do it yourself, hire a CPA instead.
Your taxes have to be filed — period. Hire a CPA to do this work for you and get back to doing other things you would rather be doing instead.
For more information, reach out to a local certified public accountant.