Anyone who’s previously filed taxes knows that a lot goes into the process. From saving documents throughout the year, to double-checking your return for any last-minute errors, there are a lot of moving parts to consider. From as far back as when Americans historically declared “no taxation without representation”, tax filers have been trying to find the most effective way to get their returns submitted accurately, and on time.
In recent decades, technology has played a major role in redefining how Americans approach taxes and bookkeeping. As is to be expected, a lot of these changes are a result of the internet. Nowadays, Americans can choose from a number of different self-guiding software programs, giving them the opportunity to file taxes and keep their books, without any outside assistance. It’s easy to see the appeal of these programs. Yes, they’re convenient, and in recent years they’ve become a lot more sophisticated. However, despite how far these programs have come, tax professionals and bookkeepers are still highly sought after. And for a good reason!
If you’ve never worked with a tax professional or a bookkeeper in Charlotte NC before but are curious to know more about how they operate and what the benefits are to hiring one, in this blog, we’ll break it down for you.
The Issue with Relying Solely on Tax and Bookkeeping Programs
Before we dive into the benefits of hiring a tax professional, let’s quickly look at some of the drawbacks that you might encounter by solely relying on programs. When it comes to these types of tax and bookkeeping software, the benefits are straightforward. They’re quick, typically user-friendly, and affordable. However, these types of programs might be difficult for someone who falls outside of the traditional tax filer profile. Meaning, that if your tax filing situation is more complex or involved, you might experience difficulty navigating the software.
Moreover, these applications and programs are generally best suited for straightforward filers who tend to be single. If you’re married, self-employed, and/or own a business, you might want to consider enlisting the help of a professional bookkeeper. Additionally, trying to decide on a particular program can eat away your free time. With so many options, trying to find the right program can be a chore in itself. Furthermore, once you start looking into the various programs and companies, you’ll realize there are a lot of different versions ranging from basic to deluxe. Oftentimes, you can get roped into using a program with a lot of unnecessary features but a lot of added expense. Ultimately, you’ll be spending money that’s better utilized elsewhere.
Finally, with a lot of these tax and bookkeeping programs, there’s no in-person support available. This can make troubleshooting a nightmare, especially if you’re someone who values high-quality customer service. If personalized service is important to you, it’s not a bad idea to consider a brick-and-mortar office, where you can talk to someone face to face.
The Benefits of Hiring a Tax Professional and Bookkeeper
For the most part, there are very few drawbacks to hiring an actual tax professional. It typically tends to boil down to the fact that people don’t want to spend extra money, especially when tax season can make filers feel financially vulnerable. However, the benefits of hiring a tax professional and bookkeeper tend to far outweigh any drawbacks, particularly if your tax situation is complicated. Here are a few of the main reasons you should consider hiring an expert.
Year-Round Assistance: For a lot of filers, tax preparation is a year-round process. It requires proper bookkeeping to ensure that you have all the necessary documents available for review in the coming tax season. This can be challenging enough for your average tax filer, let alone the filer who has a more complicated set of circumstances. For example, if you’re a small business owner, investing in a year-round bookkeeper gives you the opportunity to focus your time on other important matters. A bookkeeper can also give you real-time advice, helping you resolve issues before they have a chance to snowball.
Experience: When it comes to do-it-yourself tax and bookkeeping work, it begs the age-old question. Just because you can do something, does that mean you should do it? Tax experts have already gone through the trial-and-error process, giving them invaluable insight and relevant experience. In this particular case, bookkeepers know how to quickly resolve issues, enter data with accuracy, and get you the most out of your deductions and write-offs.
An array of Services: An in-person tax professional can typically assist you with a lot of different services, giving you a direct lifeline to financial help when and if you need it. Not only do most professional firms offer bookkeeping assistance, but they can also offer help when you need accounting, personal tax preparation, payroll services, notary services, and business prep. Enlisting the help of a professional can lead to a lot of different opportunities to improve your overall financial situation. With a professional service, you can establish a one-stop shop for all your financial care.
Saves you Money: Given that financial programs are typically affordable, the idea of hiring a professional might seem counterintuitive and an unnecessary expense. However, part of the work of reputable bookkeeping services for small business near me is helping you maximize your cash flow and learn more about how to get the most out of your income and investments. A bookkeeper can help you strategize on ways to save money year-round, not just at tax time. Bookkeepers are also ideal for tax season because they’ll be able to ensure you steer clear of any penalties by guaranteeing your information is filed on time and without error. Working with a professional can also translate into an educational experience, giving you a better understanding of finances.
The Bottom Line
While you may come to regret navigating tax season on your own with a do-it-yourself program, chances are you won’t regret hiring a professional. With a bookkeeper to oversee your financial portfolio and tax returns, you can invest your time elsewhere while still learning more about financial literacy and giving you peace of mind when tax season approaches. Never used a professional service before? It’s never too late to get started here in Charlotte, North Carolina, and beyond!
At McGrant Tax And Bookkeeping, we are here to help answer all your questions as your primary bookkeeper in Charlotte NC. Please feel free to contact us today at any of our two locations or visit our website https://mcgranttax.com and book an online or physical appointment.
This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. McGrant Tax and Bookkeeping assumes no liability for actions taken in reliance upon the information contained herein.
