Tax Preparation Services
It a common sight to find people running and crumbling to file their annual returns. This mad rush occurs somewhere around April. Well, at a personal level, tax services can be quite straightforward and direct. For individuals and businesses with a load of income generating activities, preparing and filing their tax returns can be quite challenging. In this case, one needs to walk with professionals that offer tax preparation services. There are many types of tax preparing professional and tax preparation services today. What are the services provided by these different tax-planning professional?
Services Offered by Tax Preparation Professionals
Tax Preparation Services
This is one of the most common services provided by tax planning professionals. Ideally, this service entails preparation and filing returns. There are many types of tax preparation professionals in the market today. These service providers range from small companies with certified professionals to huge corporations with experienced accountants. As such, it is advisable to observe maximum precaution when choosing tax preparers. Work with a certified professional that is well versed with tax codes.
There are many levels and types of tax preparation. But the Certified Public Account (CPA) is the most common type of certification. A CPA should have a degree in accounting, and should take annual classes for recertification to ensure that are well versed with new tax laws. Besides, a CPA can also offer business, financial and tax planning advice.
Attorneys can choose to specialize in a particular area of the law. Some of them can opt to specialize in tax law. As such, tax lawyers help their clients deal with tax disputes, creating tax shelters and do paperwork for huge corporations. When looking for a tax attorney, it is advisable to confirm with the bar association about the qualifications of the attorney in question.
The role played by enrolled agents is quite different from that offered by CPAs. Ideally, enrolled agents are individuals certified by IRS to represent taxpayers. However, these professional do not have a set training course or area of training, but they have to pass a certification exam. As such, their primary role is to provide their clients in making tax audits, investigation and can help in preparation of tax returns.
Before choosing a particular tax-planning professional, it is advisable to determine your needs fist. If you need a straightforward return, you should consider working with a CPA. Besides, for tax issues that have legal implications, you can talk to a tax attorney. Each tax professional does his role within the confines of their specialization.
The benefits of online tax filing
There’s no arguing with it
taxes are a pain
No major news flash there. If you’re a small business owner taking the time to scramble around and locate an entire year’s worth of receipts just lying around everywhere is going to be a pain. Even if you’re just filing personal income taxes, you’re still going to have to track down a lot of numbers and find your deductions.
Fortunately, you can take a huge amount of frustration out of filing your taxes by filing them online.
Isn’t difficult. As a matter of fact, if you decide to hire a tax professional to do your taxes for you, they’re going to use the same type e-filing program that you will find on one of the online tax filing web sites. Tax filing programs developed for tax professionals, use a guide to filing taxes with the same basic question and answer format as software intended for individual use.
Step by step
The program walks you step by step through the filing process to ensure that you don’t miss any possible deductions, and when you’re done, your taxes will be automatically calculated and e-filed by sending them to the IRS.
The benefits of working with a specialized online tax filing program are obvious (Can you say “more money”?) but where’s the real benefit in filing online? First and foremost, you’re going to get your money back much more quickly than if you’d filed the old-fashioned way using a paper return. There’s a reason it’s called snail mail!
People who prefer filing offline to filing online wait two to three times as long for their refund as their Internet savvy counterparts, plus the inconvenience of traveling to your CPA’s office twice. Anyone filing a paper return can expect to wait for seven to eight weeks (or longer) for their refund to be processed.
Anyone choosing to file taxes online, on the other hand, will usually have their refund in hand in about ten days with direct deposit at their bank. Can’t you think of better things to do with your tax refund than sit around for weeks waiting for it to show up in the mail?
Second, using an online tax filing site’s services will allow you to file online with minimal to no extra costs, and it is way less expensive than hiring a professional CPA. The flat starting rate for most CPAs is a full $150, and most likely they’re going just to use the same program you could have used for far less or even free. This free service will almost always save you time on future tax returns as well since on secure servers personals information can be stored in a safe place.
So you won’t have to put in the Social Security Number next year, address, or another stuff year after year. Just the numbers then hit send.
There are a tremendous number of benefits to filing taxes online, so what are you waiting for? Make this year the year that you give online tax filing ago, and you’ll never look back.