Benefits of Hiring a Professional Tax Preparer

Posted by Tax Helput on August 7th, 2019

What are the differences between a 1099 and a W-2? Why are there 940, 941, and 944 tax forms but no 942 or 943? When do 1095-B and 1095-C forms apply? Which box should be checked on line 22 of a 1094-C form?  If you are confused, frustrated, or otherwise put off by the idea of doing your payroll taxes, it’s worth your while to get professional help. Below are four reasons for hiring a professional tax preparer in Salt Lake City.

Recommendations

When your nine to five is spent filing taxes, you learn a thing or two. Professional tax preparers have the knowledge and experience to make useful recommendations. Whether those recommendations are about the tax information that you are filing or the way it’s being filed, they will likely help you save time and money.    

Accuracy

Filling out payroll tax form isn’t a walk in the park. Each form has dozens of lines with multiple boxes and a variety of rules. Consequently, knowing what information needs to go in which box isn’t a straightforward matter. The process only becomes more confusing when you have to fill out multiple types of tax forms. Tax professionals fill out tax forms for a living. As such, they readily know what information is needed to fill them out and how to do so correctly.  

Representation

Undergoing an audit is never fun, but having a tax professional on your side makes it more bearable. Having a professional tax preparer file your payroll taxes minimizes the chances for errors. However, on the off chance that auditors do have concerns, a tax professional may provide you with representation and guidance for resolving them.

Savings

Hiring a professional tax preparer saves money in two significant ways. First, paying an external tax professional to file your taxes is often cheaper than having one permanently on your staff. Second, just one tax deduction or credit can be more than enough to cover your tax preparer’s fees, which means more money stays with your business.

If dealing with Utah payroll taxes on your own is a nightmare, put an end to it. Hiring a tax professional comes with more benefits than discussed here; all of them make handling your taxes less of a hassle. Some of the benefits you get with professional tax help are worth the cost all their own. The combination of all of them makes hiring a tax professional well worth your while.