Tips For A Pain Free Tax Prep Experience – Part One

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Tips For A Pain Free Tax Prep Experience Part
One
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• One of the simplest ways of preparing for your
  taxes is to utilise the services of a tax
  professional, and recent statistics put around
  60 of US tax paying citizens reportedly using
  paid preparers to submit their tax returns. While
  it is perfectly acceptable to go it alone -
  especially if you have a good head for such
  things using a paid professional is the best
  way of eliminating errors and being sure to
  submit all the relevant information at the right
  time.
• Selecting the right tax preparer for you
• Asking among your friends, family and colleagues
  is a tried and tested method for finding a
  reputable tax preparer that you can trust, and
  this is a recommended starting point for anyone
  searching for a tax professional.

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• Always ensure that any tax professionals you
  consider have a PTIN, or Preparer Tax
  Identification Number and be sure to ask about
  fees from the offset. While their charges will
  doubtless depend on the complexity of your tax
  circumstances, you should avoid those preparers
  whose fee involves a percentage of your refund.
• Dont waste time before meeting with your tax
  preparer
• Delaying meeting with your tax preparer is not a
  good idea, no matter how much you hate the
  thought of taxes. The quicker you meet with them,
  the quicker the process can begin and the less
  likely the chance of deadlines being missed.
  Acting promptly is also the best way to ensure
  that you get your refund as quickly as possible

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• Locate your information returns
• You should have received several types of
  information returns by the end of January, and
  for each of these, you need to check that the
  information matches your own records in
  preparation for meeting with your tax
  professional.
• Locate your receipts
• Itemizing your personal deductions or claiming
  the standard deduction, will determine which
  receipts youll need to hand over to your tax
  preparer. Establishing whether itemizing will
  give you a greater write off can only be achieved
  by comparing your itemized deductions with your
  standard deduction amount.

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• If itemizing, locate your receipts, looking for
  medical expenses not covered by insurance or
  reimbursed by any other health plan, property
  taxes and job and investment related expenses.
• If you have any business income to report and
  expenses on a Schedule C form, then youll need
  to share your accounts and records with your tax
  preparer, too. In short, the more organized you
  are, the better your tax preparer will be able to
  work the quicker they can get their work done,
  the less they will need to charge you.
• Please see the next part of this article to read
  more tips for a pain-free tax experience.

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• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax preparation service
  Coral Gables. If you are looking for tax
  preparation service in Miami, Heyer Associates
  would be a right option.