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Benefits of Hiring Professionals to Reduce Your Tax Debt

Benefits of Hiring Professionals to Reduce Your Tax Debt

By on Jan 14, 2015 in Consultation | 0 comments

Benefits of Hiring Professionals to Reduce Your Tax DebtThere are many reasons why you might be considering hiring an experienced professional to help you reduce your tax debt this year. While each tax situation is unique, there are some situations where you might benefit significantly from professional support and assistance. We have compiled a list of 6 of the most common benefits of getting help on this year’s return:

Accuracy

Enlisting the help of a trained tax professional can ensure that your tax return is accurate and free of errors that can cost you money and raise your audit risk. This allows you to keep your money in your pocket and reduce your tax debt. Tax professionals are trained and work on tax returns all day every day. They have years of experience and many will even guarantee their work, so you can breathe easy as you submit, knowing your tax return has been done correctly.

You Have a Complicated Tax Return

If your tax return is complicated or you are concerned that your audit risk is high, you may benefit from the assistance of a tax professional who can review all of your income and deductions and be sure that your return is maximizing any potential savings/refunds.

Major Life Event

A major life event (divorce, business purchase, death in the family) can significantly impact your annual tax return. If you have experienced a major change in your tax status, a tax professional can be extremely useful in guiding you through the filing process during the year of the event. A tax professional will be current on all tax law and can make sure to reduce your debt as much as possible without compromising the integrity of your return.

You Worry That You Will Owe a Significant Amount This Year

If you are concerned that you owe a significant amount of money this year, you would likely benefit greatly from the assistance of a tax professional. Not only can the professional review your return and make sure that you are deducting everything possible (so that you reduce your debt where you can), he/she can also advise you if you should apply for special consideration/assistance from the IRS (for example, some taxpayers qualify for an offer in compromise or an installment agreement). If you qualify for one of these programs, a tax professional can help you submit a strong application to the IRS.

Fearful of an Audit

If you are concerned that you are at an increased risk for an audit, then a tax professional may be a great ally and partner for you. This person can review your documentation, make sure that you are saving as much as you can and help you communicate with the IRS in the event of an audit. You may also be concerned that you are vulnerable to an audit because your previous returns are incorrect; a professional can advise you about this as well.

Save Time, Effort and Worry

Data shows that tax professionals can save the average taxpayer money on their tax return. In addition to reducing your tax debt, one other benefit of partnering with a professional is that you will save you time, effort and stress.

Contact Success Tax Relief Today for Help

Success Tax Relief has more than 30 years of experience working with taxpayers just like you to reduce your tax debt. Our experienced tax professionals can work with you on potential deductions, make sure that your return is accurate and a low audit risk. Ultimately, this benefits you by leaving more money in your pocket AND giving you peace of mind. Contact us today to get started. Initial consultations are free!

 

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