Can you do your taxes yourself?
You hear people talk about doing their taxes themselves, often with the help of a website or an app. In conversation, it always sounds like such a quick and easy thing to do, and in many cases, it certainly might be.
However in many situations, particularly if you are in the military, taxes can be a bit more complicated. This complication and challenge can be compounded if you itemize your deductions in order to squeeze every dime you can out of your taxes.
So with tax deadlines fast approaching, you may be sitting with a pile of records, trying to fill out your return, or navigate popular tax return software, which isn’t often designed with the needs of those who serve in mind.
You don’t have to face your taxes and the pressure of filing alone. There are resources that can put you in touch with tax preparers that not only leverage all of their expertise to get your taxes done quickly and accurately, but some even specialize in filing returns for military service people and their families.
Here are ten quick reasons why hiring a tax professional is often the smart move, even if you don’t make much.
It Can Actually Save You Money
If there’s even a single deduction that you miss or obscure tax credit you overlook, just the money that puts back in your pocket can pay the preparer’s fee and then some.
It Can Save You Time
When people do their own taxes, it can take nearly 20 hours if you itemize your deductions. Your time is valuable, why waste that much of it?
Tax Pros Can Answer Your Questions Right There
Rather than spending half a day on hold with the IRS, you can ask questions and get feedback right that moment. That alone is a bargain.
Taxes Can Be Complicated
The US Tax Code is insanely complicated, and it changes every single year. Why take the chance that you miss something when it’s someone else’s job to stay up to date on all of that stuff?
Mistakes Can Be Very Costly
Missing deductions or credits can be just as costly as getting audited. A professional preparer can help eliminate errors on your return.
Money-Saving Tax Planning Tips
This is something a lot of people overlook, but if you itemize your deductions, your tax professional can offer advice on what can be deductible and how much. They can help you reduce your tax liability year over year.
Gives You Peace Of Mind
This may be the best thing about using a professional. Not having to worry about your return being accepted once it’s filed can be an incredible relief. Having the entire tax season over is another.
Tax Filing Resources For The Armed Forces
If you are serving, or have served and collect income from the armed forces, you could likely benefit from professional tax services. Reach out to the Armed Forces Benefits Network for more information and assistance.