Are you throwing the baby out with the bathwater when it comes to filing tax returns?

If you think you are saving money by doing your taxes on your own, you might be in for a surprise. Federal tax law is adjusted every year, making it challenging for the average person to keep up to date with, and to understand how these changes can apply to their own tax situation. Even if your circumstances are straightforward, hiring a professional will no doubt save you the time and stress of doing your own taxes, and possibly money. super cpa

There are professional CPA’s who work hard year-round to keep up to date with all adjustments to tax laws making it advantageous to hire someone with an accurate knowledge base so that you are able to take all the deductions you deserve to keep you from overpaying. Professionals can often make valuable tax savings suggestions that you or a software program won’t anticipate, finding little-known deductions or credits that you may be unaware you qualify for.

Also, think about the hours you could save yourself from trying to read through and understand the IRS’s form instructions and newest laws. A professional tax preparer is so familiar with the system, he or she can quickly and easily accomplish tasks that might take even skilled taxpayers hours of research. If you put a monetary value on your time, you might find that the hours you spend laboring over your tax return ends up costing you more than the fee of having a professional manage it for you.

In addition, fees associated with professional tax preparation may be deductible on your income tax return as long as you meet certain eligibility requirements. Tax preparation fees are considered a “miscellaneous” deduction under itemized deductions.

A real life case study, who we will refer to as “John,” brought his past three years of tax returns to barton CPA in Palm Springs for review. John was a professional making a six figure salary, doing his income taxes using an off-the-shelf software for years. When reviewing the last three years of returns, barton CPA noticed that he had failed to capture an extremely large loss that was not reported on his tax return.  This loss was also not caught by the off-the-shelf tax software. He was able to amend the prior three years tax returns, and get a very generous five figure refund, each year. 

Like a good family doctor that knows your medical history, you can develop a relationship with an accountant so that he or she understands your financial situation and future goals. As a trusted professional, they will be able to answer important questions that arise not just during your annual consultation, but at other times during the year as well. Plus, another benefit is that many guarantee representation against a potential tax audit.


If you are now wondering how much money you’ve thrown away over the past few years, or to make sure you aren’t throwing away more this year, barton CPA has 4 locations and can provide a complimentary consultation.

© 2017 Barton CPA & Associates. All Rights Reserved.