September 24, 2012.

The Best Way To Prepare Your Taxes is to Hire a Tax Expert

Tax season is a stressful time for everyone in the San Francisco Bay Area.   We live in a busy area, full of fun, technology, life…  That’s what San Francisco is all about, after all.  But, all of a sudden, the piles of receipts and credit card statements you’ve been saving have to be collected and assessed; a reckoning of all your financial activity in the past year has to be made with precise accuracy in order to facilitate a smooth filing experience.  Bye, bye San Franciso fun.  Hello, tax season!

San Francisco Tax Expert - We're Not Einstein but We're Smart

Individuals, families, and businesses everywhere may find themselves in need of a little help getting through this time of year.  Indeed, just as you go to an expert San Francisco chef for a great meal, or an expert San Francisco physical trainer to help get in shape… going to an expert San Francisco Tax CPA firm like Safe Harbor can make your life a lot easier.  It can even save you money by avoiding mistakes you might make if you do your individual or business taxes yourself.

  • Reach out to Safe Harbor CPAs by email for a quick free phone consult on accounting and tax needs.  Or call us at 415.742.4249.

Weighing Your Tax Filing Options and Choosing a Tax Expert in San Francisco

As the deadline for filing taxes draws closer, clients will start to ask their accountants if it’s better to prepare their own returns or to hire a top rated San Francisco CPA firm like Safe Harbor CPAs to do it for them.  A good Accountant will answer truthfully: There are advantages and drawbacks to each option.  Every head of household and business owner has to decide for themselves which filing option will help them the most.

Filing on Your Own Taxes in San Francisco.  Not such a good idea.

The choice to file your own tax returns gives you two primary advantages.  First, you can save the money you would have otherwise given to an expert CPA firm; accountants, just like doctors and lawyers, are professionals who can often command a premium price for their services.  And second, filing on your own gives you the freedom to complete the process whenever you want.; as tax season in San Francisco heats up, it will become more difficult to make an appointment with your  preferred Accountant.  To avoid waiting for an appointment to open up, you can instead choose to work towards a filing deadline that best suits your personal needs.

Hiring an San Francisco Tax Expert

The disadvantages of filing on your own are the time commitment required on your part, the precise attention to detail necessary for accurate filing, and the potential of paying more in taxes than you actually owe.  A CPA experienced in tax preparation can complete even complex forms in less than time than it takes for someone without similar experience.  Thus, the time you would have spent working on your tax return can be put to other use.  This level of experience also makes it possible for an expert tax preparer to spot errors and correct them before the IRS does.  A simple calculation error can trigger an IRS audit of your financial records and for this reason, many people prefer to let a financial expert handle their filing.  And finally, someone preparing taxes professionally will be familiar with all the state and federal deductions you may qualify for; your Accountant will help ensure that you pay exactly what you owe

Expertise in San Francisco, California, and Federal Taxes Makes the Difference

Filing your own taxes this year may be the right choice for you.  If you will be filing a straightforward personal return with no itemizing or unusual forms of income to factor, then you will probably find completing your forms on time to be no great challenge.  Doing your own taxes is the perfect way to become more involved with your financial life.

On the other hand, if you’re filing on behalf of a business or if you have a quantity of itemized deductions that need made, then you’re probably better off working with a CPA or other tax preparation expert.  An experienced CPA will be able to help you claim all deductions you qualify for and is your first defense against an IRS audit.