Home Business Taxes: Consider Using an Accountant

Save time (and possibly money) by using an accountant to do your home business taxes.

As the end of the year approaches, hopefully, you are organizing your home business taxes. Getting your paperwork in order now can save you a lot of trouble later. Additionally, going through your taxes now can help you identify additional home business tax deductions you might want.

One of the big reasons to organize your tax documents early (even better: organize them as you go along throughout the year) is so that your accountant can do their job more easily. And, if you don’t have an accountant to help you with your home business, you should consider getting one.

Save Time with an Accountant

I used to do all of my own taxes. Even though doing them independently is possible, it can be time-consuming. I found myself spending hours going through the forms and making sure that everything was properly filled out. The process intensified after I formed my LLC and stopped filing taxes as a sole proprietor.

I began looking for an accountant. And, after having him do my taxes that first year, I decided that he is worth every penny. The accountant saves me loads of time. He knows the current tax laws and can quickly fill in the information. Since I’m quite organized with my taxes, I only need to gather the information and take it in. I don’t have to spend a lot of time on it.

In fact, I can be doing something else entirely while the accountant does my taxes. When I think about the trade-off between time and money, time wins out quite often. Paying the accountant to do something for me means I have more time to work on something else. And it’s not just the time the accountant is with the taxes. Since he can do my taxes much faster than I can, that’s quite a few hours that I don’t have to spend working on my taxes.

With the work that I can do, instead of slogging through my taxes, the accountant basically pays for himself. And I have more time to do what I want.

Representation to the IRS

Another great thing about working with an accountant for your home business taxes is getting representation to the IRS. Many accountants will represent you in the event of a tax audit. In these cases, you might not even have to interact with the IRS at all. The accountant sends in the necessary documentation and can even represent you if a face-to-face meeting is required. It’s very useful on many levels to have an accountant to do your home business taxes.

Stop and think about your situation before you do your home business taxes another year. You might actually benefit from having someone else do your taxes. You’ll have more time, and, depending on what work you can do instead, you might end up ahead.

What do you think? Do you use an accountant to prepare your tax return?

2 thoughts on “Home Business Taxes: Consider Using an Accountant”

  1. Lance@MoneyLife&More

    I have my CPA and used to be a public accountant so I will do my own taxes. That said, I do have an attorney CPA friend that helps with any changes/questions I run into.

    1. Miranda Marquit

      Nice! If you have the training for it, I think it can work. But for me, it’s easier to have someone else take care of it.

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