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Should I hire a business consultant service near me for my personal and corporate tax preparation?Posted By Whyte & Associates
The professionals at Whyte & Associates have helped countless clients prepare their annual tax documentation. While there are services available that can help with simple tax preparation, they don’t work well for every person or business. These systems also aren’t designed to provide advice or help a person minimize their tax bill. Following are several triggers that may mean it’s time take your tax preparation to a professional.
- You earn more than $200,000 each year. The chances of being audited rise significantly if a person earns more than $200,000.
- You are involved in a business partnership or are a shareholder of a corporation and receive K-1 documentation. Most automated systems are not built to handle input of many K-1s.
- You have material foreign source income. This could apply to you if you own foreign EFTs, mutual funds, or stock of foreign companies.
- You own a business, have rental property, or are self-employed. Working with a professional can help you find openings to lessen your taxes by ensuring your expenses are categorized appropriately and depreciating real estate or business assets.
- You plan to make a large gift. There ae various ways to make a gift or donation. A professional can highlight some of the tax advantages of the options.
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