I recently saw this article about why you should fire your accountant and do it yourself. I couldn’t have disagreed more. That prompted me to write this two part article. In Part 1 of 6 Reasons You Shouldn’t Fire Your Accountant This Tax Season, we discussed the first three reasons to keep your accountant. They were; saving money, saving time, and financial self-awareness. So now I want to share the next three reasons.
Here are remaining 6 Reasons You Shouldn’t Fire Your Accountant This Tax Season:
Reason 4: Avoid Audits
The argument on this was that most accountants are aggressively trying to get better refunds to keep you as a client. I really don’t agree with this. Most CPAs and accountants that I know, will call you on any questionable deductions. They will not put their reputations and careers on the line for one return.
Another reason to use an accountant would be if you are audited. Don’t you want someone that can be there standing side by side with you during an audit with the IRS?
Reason 5: Access Previous Year’s Returns
Most online tax software allows you to access your returns online from previous years. It’s online and simple to access. My response…so what. In addition, most of these same softwares allow you to use the previous years responses to fill for the new year. My response…so does my accountant. Look, I have copies and so does my accountant. A redundant back up. Plus, I store my returns in a secure online location for instant access. Access from any phone or computer anywhere. My accountant, uses my info from previous years to fill in my information. So there’s no starting over.
Reason 6: Instant Filing and Quick Refund
One of the things that online tax filing has going for it is that it automatically files right then. You don’t have to go pick up the taxes, sign them and mail them. So the argument is that there is no waiting for a refund or for the accountant to let you know the return is done. My argument is that the accountant can review that return with me one last time just before it’s submitted. A second pair of eyes if you will. Plus, I can also file electronically too.
The Bottom Line
There are as many reasons to use a tax professional as there are reasons to do it yourself. I personally like getting tax advice during the course of the year. That’s another way the tax preparer can help you avoid, or take advantage of, a tax situation. Unlike tax software. I also can appreciate the time and expertise it takes to stay up to date on tax law changes. I also like the human touch of visiting with my tax preparer. I like him. Plus, software really doesn’t get to know you or your family’s financial situation like a human being.
So those are my reasons that I’m keeping my accountant this and future tax seasons. If you like my article, why not subscribe here for free!