Do You Need a Tax Preparation Specialist?

With all of the tax preparation computer software out there it can be hard to know if you should try to do your taxes on your own or if you would be smarter to hire a specialist. There are benefits to both forms of tax preparation, but here are some ways that you can know what way would work best for you.
You can begin by asking yourself how many sources of income you have. If you have one job, the chances are your taxes would be pretty easy to fill out on your own, especially with tax preparation software. On the other hand, if you have other forms of income such as stocks, bonds, employment investments, or other forms of income, it would profit you to have a tax preparation specialist because each form of income will have to be accounted for separately.
Also, consider how many people will be included on your taxes. If you are including a spouse on your taxes, it may mean that you have to offer more comprehensive information. If, as a couple, you still have only one form of income, you can still use tax preparation software, but if you get stuck, don’t be afraid to call for help.
Finally, ask yourself if you have deductions that can be taken from your taxes. Deductions can include a tax credit for each child, energy-saving appliance deductions, health care deductions, charitable contributions, and other forms of tax-deductible income. If you have a lot of different deductions that you can claim, it may be easier to hire a tax preparation specialist.
The best way you can decide if you need a tax preparation specialist is to consider your own ability to read and follow the instructions of tax document information. Most Americans find it so difficult to decipher the information on taxes that they opt for tax preparation assistance. It is one of the best ways to ensure that your taxes are filled out correctly.

Karla Dennis

As seen in Forbes Magazine, Karla Dennis is an expert tax and business strategist. As an enrolled agent, Karla is licensed to represent taxpayers in all 50 states. She holds a Masters in Taxation and Business Development and is the author of two books, Tax Storm and Against the Odds.

Karla, CEO of consultancy firm Karla Dennis And Associates, Inc.™, has saved her clients thousands of dollars and has been featured in various media outlets such as Forbes, MSNBC, KTLA, Yahoo! Finance, and SmartMoney, marking her as the ultimate tax expert.

As of 2014, Karla became the new host on the “Mind Your Business” radio show, KTLK AM 1150, sharing her financial and business knowledge with the greater Orange County and Los Angeles areas. As a supporter of women’s rights and issues, Karla is part of the Women Network, an organization built to educate and mentor women. In addition, Karla is the radio host for Women Network Radio, a show that aims to uplift and empower women of all walks of life.