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5 Reasons You May Want To Hire An Accountant To Do Your Taxes

Preparing and filing the tax can be a problem unless a professional is guiding you. The current presentation is all about the reasons to hire an accountant for tax matters.<br>Visit to know more - https://jarrarcpa.com/cpa-santa-monica/<br>

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5 Reasons You May Want To Hire An Accountant To Do Your Taxes

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  1. 5 Reasons You May Want To Hire An Accountant To Do Your Taxes

  2. You Have A Small Business Or Side-hustle Being a small business owner, you always aim to save money. Several possible tax write-offs are there, which a business owner may not know. However, with an accounting expert by your side, you can easily point them out. It will be easier for you to identify the deductible areas, which can save a lot of money for you. Further accounting professionals can help you identify the risks also besides helping with 1099 forms.

  3. The IRS Contacts You Small business owners often get frightened by hearing the name of the IRS. However, having an accountant or a CPA Santa Monica by your side, there is nothing to fear. Bring your accountant in the middle whenever the IRS reaches you out. Remember, if you are unable to handle the issue at the initial phase, it can be a big deal later. However, your accountant knows well the way of handling the IRS. They will only share relevant information.

  4. You Are Planning For Your Kids To Go To College Do you have a child who is soon to start college? If yes, then you can plan to apply for the Free Application for Federal Student Aid (FAFSA). However, your accountant can help you in doing this. However, ensure that there should be no unwanted assets or income in the name of your child. It can hurt the chance of getting financial aid. In case the child possesses a 529 plan or Coverdell ESA, talk with your accountant.

  5. You Own A Rental Property If you are dreaming of getting a return on the real estate investment, it can be a little tricky. However, a professional can help you to identify the areas from where you can get the maximum deduction. However, they can also advise you on the relevance of keeping that property to rent or sell it off. Further, you can rent the property to the business to save money. No matter, your accountant or CPA Santa Monica can help you in this.

  6. You Are Self-directing Your Retirement Apart from the stocks, bonds, and mutual funds, several options are there to deal with the 401(k). Alternatives such as bitcoins and real estate can be a good option for investment. However, investing in these options can be risky. Your accountant can help you with this. However, among the different accounting and finance professionals, it is better to take the help of the CPAs when you are planning for a long-term investment.

  7. Thank You

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