A Cpa For Taxes Does It Make A Difference


A CPA For Taxes-Does It Make a​ Difference?
If you're not sure whether you​ have a​ simple tax return you​ can do yourself or​ you​ wonder about missing significant tax advantages or​ are concerned that you​ might be making mistakes,​ use the​ checklist below from the​ American Institute of​ Certified Public Accountants to​ help you​ decide whether you​ should hire a​ certified public accountant to​ help you​ prepare your tax return.
You may want to​ consult with a​ CPA if​ you:
• Bought or​ sold a​ home .​
You'll want to​ take all allowable deductions and make certain you​ qualify for the​ personal residence exclusion.
• Got married,​ divorced or​ your spouse died .​
Only a​ competent tax professional can guide you​ through the​ complex tax rules that pertain to​ assets passing through estates.
• Had a​ baby or​ adopted a​ child .​
a​ CPA can explain in​ plain English the​ sometimes dumbfounding array of​ investment options for saving for a​ child's college education,​ as​ well as​ details about the​ child credit,​ child care credit and earned income credit.
• Have a​ retirement plan,​ such as​ an​ IRA,​ 401(k),​ Keogh plan,​ a​ pension or​ an​ annuity.
• Recently bought or​ started a​ business,​ own a​ business or​ work from home .​
a​ CPA can advise you​ on​ whether you​ should operate as​ a​ corporation,​ partnership or​ sole proprietorship.
• Acquired rental property or​ have rental income .​
a​ CPA understands the​ complex tax rules that apply.
• Have needs for estate planning and need to​ understand all the​ ramifications of​ property taxes.
Like your doctor,​ your tax preparer knows a​ lot about your personal situation,​ so continuity of​ service is​ also an​ important factor .​
That's why,​ for many individuals,​ choosing a​ CPA is​ the​ right choice.
CPAs are college-educated,​ licensed professionals certified by the​ states in​ which they practice .​
They have passed a​ rigorous licensing exam and are required to​ adhere to​ strict ethics standards,​ as​ well as​ to​ stay current with evolving tax laws and regulations .​
They are not part-timers who took a​ crash course in​ a​ few basic tax rules,​ operating out of​ a​ storefront .​
Finally,​ if​ a​ dispute arises about your tax return,​ only CPAs,​ attorneys or​ enrolled agents are authorized to​ represent you​ before the​ IRS.



A Cpa For Taxes Does It Make A Difference



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