Professional Help and Tax Miracles
Accountants, especially CPAs (Certified Public Accountants), have been trained to understand the IRS rules that seem like riddles to everyone else. They know so much that they can pull tax-saving miracles out of thin air -- and you can count on what they say being legitimate. (Otherwise, they’d lose their certification and, therefore, their whole career.)
And they are required to keep their knowledge current in order to retain their certification. (This is a really good thing since tax laws and the way the IRS interprets them are always changing.)
A CPA can look at your income picture (positive or negative) and show you how to get your fair share of tax savings from it. They know strategies most small business owners have never heard of or even imagined.
Tax pros aren’t intimidated by financial numbers and forms -- like most ‘normal’ people are -- they relish them. So just give your accountant your data, walk away, then come back to pick up your completed tax forms!
True, you’ll pay tax pros several hundred dollars to partake of their magic, but for every hundred dollars you pay them, they could potentially save you a thousand dollars or more -- possibly tens of thousands. Their mission is to legitimately minimize your tax bite -- and they are zealous about it!
As an entrepreneur, you’ll have net income that can swing year-to-year from unfathomable depths to awesome heights. Your tax advisor will help you even out the peaks and valleys tax-wise. Don’t even try this at home -- you’ll never be able to pull it off like these seasoned professionals can.
Also, if your tax returns are done by a tax professional, there’s less chance of being audited than if you as an individual prepare your returns. The IRS can pretty safely assume the pro knows the laws and has procedures in place to avoid errors.
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