Nurture Your Family Savings by Hiring a Tax Professional This Season
Families will often attempt to file their own tax returns hoping to save a little cash, but this could be more harmful than helpful to your valuable assets.
Too often, we see drastically low refunds given to individuals who weren't familiar with complicated tax laws and deductions. Consulting a professional to review your taxes offers benefits far beyond what many expect:
Save hours of frustration
Most people dread the approach of tax time among their already busy schedules. Between organizing receipts, gathering statements, the excessive arithmetic, and the abundance of regulations to adhere to, the time spent filing yourself often exceeds the cost of hiring an expert.
Avoid missing serious deductions
Home offices, dependents, assets, real estate, savings plans, stocks, and education expenses are just some of the major deductions that can be overlooked with so many write-offs available. Major life changes also indicate an imperative need for a financial consultant.
Don't pay more than you need to
Rather than worry you're handing over more than you should, guarantee your taxes unfold in your favor as much as possible by avoiding costly mistakes. One significant error alone will often end up saving you more than the cost of hiring a professional.
2016 in particular faces a greater need for expert tax filing as it is the final year homeowners can deduct up to a massive 30% of their major alternative energy expenses. A professional can also help you claim up to 10% of certain costs for simpler home improvements that help conserve energy, such as installing insulated windows or a new roof.
Hiring a tax professional protects the money you've worked hard to save, and even prepares you for more profitable years to come.