Literally Everything You Need to Know Before Filing Your Taxes Online
I don’t think there is a person on the planet who enjoys doing their taxes. It can be confusing, it’s high a stress situation, and it can lead to expensive mistakes. Sifting through a year’s worth of your financial documentation and trying to understand the ins and outs of tax jargon is enough to give anyone a headache, and that’s before you take into account any special circumstances that might make filing your taxes more difficult.
It’s easy to feel like you can muddle through the process and come out the other side, but in reality, this can be a costly mistake. While the information might be there for you on the internet, relying on Google will make the process take twice as long, and without the experience that an experienced tax professional, it can be very frustrating! Not to mention that if you don’t get your documentation quite right, you could be in for an unpleasant surprise when the IRS comes back with a demand for more money. So before you dive into a tax return rabbit hole this season, these are some ways a licensed professional can help you and how you can prep for a seamless online tax filing.
What Are the Benefits of Filing Your Taxes Online
In the age of the internet, it might seem obvious that filing your taxes online is easier, but it goes beyond the ability to do your taxes from the comfort of your couch. When you file online, there are several benefits:
- You get your refund faster. The IRS can get your tax refund to you within 3 weeks of your filing date when you file your taxes digitally. When you send your return in through the mail, it can take 6-8 weeks to receive your refund.
- Typically, online tax returns are more accurate. Your e-filed returns are handled by a programmed piece of software that is designed to identify and correct mistakes quickly and efficiently. Additionally, newer tax software tends to help people do a better job of filing accurate returns.
- It’s faster. This one might seem obvious, but when you file online, you can do your federal and state taxes at the same time, which makes the process go more quickly.
- You get immediate confirmation. No wondering if your tax filing got lost in the mail! You’ll see that your return went through and get a confirmation email for your records as soon as you finish filing.
- No need for paper copies. Hard copies of your tax filings are annoying to keep track of and easy to misplace in your home. Instead, if you file online, you can either have a professional tax preparation service store your tax information electronically or you can save your information online.
Why Do Your Online Tax Filing with a Licensed Professional?
A Certified Public Accountant or CPA is a great resource to have depending on your financial situation this past year. Taxes can get very complicated very quickly and unless you’re a numbers person or you understand the ins and outs of tax law. Particularly if the following situations apply to you, a CPA is going to be a huge help in making sure that your online personal tax filing is done accurately and your return is as large as possible:
- If numbers just aren’t your thing. For some people, dealing with money is their Achilles heel. Somewhere between organizing their finances and calculating their return, they tend to get lost. There’s absolutely nothing wrong with that! But it’s good to know if this is one of your weak spots and it would be helpful to hire a professional to make sure everything is done correctly from the beginning.
- You started a new business venture. Starting a new business or hobby means a very complicated tax situation at the end of the year. Not only are there tons of deductibles that you might not be aware of, but there are also laws about reporting you’ll need to abide by. A professional can help you navigate the process of both your online business tax filing and your online personal tax filing and make sure you don’t get into trouble down the line.
- You had a major life event. If you got married, got divorced, or had a child, there might be deadlines you aren’t aware of or declarations you need to make on your tax return. There are also deductible expenses you can claim but only up to a certain point. A licensed professional will know these rules and be able to provide you with expertise that could save you a bundle and will definitely keep your information accurate.
Can You Count on a Professional For an Online Tax Filing?
Absolutely! If you’re hiring a licensed professional to handle your taxes for you, you don’t have to do a single thing! Your CPA will e-file your taxes for you and provide you with a copy either through email or a hard copy. It’s quick, easy, and the results are going to be as accurate as possible. All you’ll need to do is make sure you provide all of your financial information and keep a copy of the filing for your records.
Can You Find a Reliable and Professional Tax Preparation Service Online?
As a matter of fact, you can! We are a full-service CPA firm that is engaged in tax preparation for clients nationwide. We’re the people you call to untangle your financial knots and handle your major financial problems. Whether it’s an online personal tax filing or an online business tax filing you want input on, our licensed professionals are here to make sure it goes as smoothly as possible, so you can take a breath and relax during tax season.
If you have any questions or concerns about hiring a professional to file your taxes online, contact us! Our team would love to set your mind at ease and offer you a seamless tax return process this April.