Filing your taxes is no walk in the park. Not only do you have to really know your math, but the Internal Revenue Service (IRS) has a lot of rules and policies that you need to be well acquainted with.
In the end, it all boils down to whether you have the time and ability to manage your finances. However, with over a million jobs available for accountants and auditors, one wonders why so many people opt for a tax credit specialist? Read on to find out the benefits of hiring a professional.
Professionals Help Gain Knowledge
Many people shy away from hiring a tax credit specialist because they like to be on top of their finances. And while it’s true that someone else will be filing your taxes, that doesn’t mean you have to be sidelined from the process!
There’s no one better to give you technical know-how on cost segregation than a tax credit expert. You can sit alongside your auditor and have them walk you through step-by-step of what they’re doing and why, so you aren’t left in the dark. Not only will their help ensure you gain more knowledge of the complicated process of tax filing, but it also gives you the peace of mind that everything will go smoothly.
They Help Small Businesses and Freelancers Save Money
Since it’s their job, tax credit experts know all the changes and policies of the IRS. That means they know precisely how to save you money if you qualify for it.
Recently, the Tax Cuts and Job Act was passed, which makes freelancers and business owners eligible for a 20% tax deduction on their income. Although exciting, the process to avail this new tax benefit is quite complicated. Keeping a balance between a freelance job and the mainline of work can be challenging while filing taxes. However, hiring a professional can help you navigate the regulations and save money without taking a lot of your time or energy!
They Help Navigate Major Life Changes
ges can massively impact not just your mental state but also your finances. Whether you get married, divorced, have a child, or lose your job due to the pandemic, there’s a shift in your income, which needs to be evaluated.
Navigating joint tax returns during a divorce or strategizing to minimize tax liability after losing your job is essential while moving forward during a financial shift. Taking care of the shift in your personal life alongside your income can be challenging. That’s why many people prefer handing the financial responsibility to a professional tax credit specialist to ensure their refund is maximized and no mistakes are made.
If you’re looking for an R & D tax credit expert to handle your tax filing this year, contact us at The Darson Group. Our team of highly qualified tax credit experts take care of all the complex elements of tax filing and let you focus on your business. Contact us today for a free consultation.