When it comes to preparing your tax return (personal or business), you have three options: You can do it yourself by hand, use a tax software or hire a CPA or professional tax preparer to do it for you. Nowadays, most people choose to use a tax software or go to the pros. Sure, accounting technology can work well, but there are some things that software can never replace.
Let’s take a look at some of the things that an experienced CPA will do better than any tax software.
1. Attention to Detail
Yes, the math will be perfect in your tax software. However, someone still has to input the right numbers and not overlook any expenses, income, fees and other figures that need to be calculated. Even if you have all your accounts automatically connected to the software, things can be missed. A professional accountant will know to cover every detail, ask the right questions and double check all the numbers so that your books are truly accurate.
2. Tax Preparation Expertise
If you’re a business owner, it’s especially important to start thinking about ditching your tax software. Tax laws continue to evolve and it’s essential to know every possible deduction or tax credit you can take advantage of based on your specific situation. A CPA will be able to accomplish this better than any tax software out there.
3. Year-Round Advice
When you hire an accountant to prepare your taxes, you have more access to them year-round. This is especially helpful for small business owners, contract workers or freelancers who need to pay quarterly estimated taxes. Unlike a one-time-use software, your accountant is available to answer questions and offer advice.
Nothing can beat having a real person (or team of CPAs) working with your best interests in mind. If you are looking for a great CPA in Orange County to help with your small business or personal finances and tax preparation, look no further than Ferguson, Timar & Company. Contact us today to learn more about our tax and accounting services, and to schedule a consultation with one of our experienced CPAs.