The big chain tax preparation stores spend millions of dollars on marketing and advertising to convince you that they can get you a tax refund quickly. They typically hire unlicensed low-skilled seasonal preparers to provide tax preparation services each year, but as soon as tax season is over, they lay off over 90% of the preparers.
The Real Cost of Tax Preparation VS a tax Professional
For about the same fee that you pay for an unlicensed tax preparer at a big chain company, you can hire a licensed EA or CPA tax professional to prepare your taxes. The licensed tax pro is much more likely to find an additional tax deduction or credit for you, which the chains often miss.
In fact, your out-of-pocket cost is often less with the skilled tax pro, due to the fact that it’s nearly impossible for the seasonal unlicensed chain preparer to understand all of the special rules in the Tax Code and apply them to your circumstances, especially if you’re in business.
Business Tax Planning = Tax Savings
Basic tax preparation has limitations. It doesn’t account for where you are today, where you want to be tomorrow or provide the opportunities the laws allow. A tax pro can save you thousands of dollars over time with good tax planning and protect you from costly blunders that so many people make.
It’s certainly worth your time to find a licensed tax pro who does more than simply prepare tax returns. Tax pros look for opportunities in the Tax Code and find solutions. They often save you more in taxes than the fees you pay for their services! It’s a win-win situation for everyone except the tax collector.
A licensed tax pro can provide tax planning and advisory services throughout the year and be there when life-changing events occur. The licensed pro can advise you in business, compliance, asset protection, estate issues and much more than simple tax preparation.