Tax time is stressful for everyone. It is less stressful for those who have one W2, are single, and able to take the standard deduction. For the rest of the tax filing population things are much more complicated. These days many people use tax software instead of hiring a tax professional to do their taxes. Many of these people regret this choice as soon as the IRS audits them.
There are several reasons using a tax professional is advisable compared to using tax software. The first and most important reason to use a tax service in Wilmington DE accountant, is an accountant will be up to date on all the current tax laws. Tax laws are constantly changing. In the time it takes a tax software company to get it software to the public several tax laws may have changed. If tax returns are filed based on outdated tax laws those tax returns are more likely to be flagged for audits.
The second reason to have an accountant do your tax returns is to avoid being audited. A human is better able to assess what is likely to get a return audited and resolve the issue before submitting the returns. An accountant is a huge asset to have on your side if you do get audited. The accountant will generally handle all dealings with the IRS and quickly deal with the problem. A tax service wilmington DE accountant is able to give advice throughout the year to help mitigate the tax burden and save as much money as possible.
A tax professional is likely to save you more money than tax software is able to. This is because an accountant is able to help you plan your tax year and create a plan to save you the most money. If you are going to have surgery or other high cost medical procedures it would be wise to save all medical expense receipts and prepare to take them as a deduction. However, without an accountant you might not know to save all the receipts and take that deduction, costing you more money in taxes. These types of atypical deductions are where the true value is in an accountant. Using an accountant only during the tax season is wasting the knowledge you pay to use.
