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byAlma Abell
The new year is upon us and with it, comes what is considered to be one of the most stressful times of the year for many people. Filing your taxes can often be a stress inducing experience for those that are not properly equipped with the knowledge and tools to handle things of this nature on their own behalf.
When it comes to filing your taxes, even the smallest of mistakes can either cost you money later on, miss out on the full amount of the refund that you may be entitled to, or even result in an Internal Revenue Service audit in a worst case scenario. For this reason, many local residents will choose to enlist the services of an Accountant in Manhattan such as Woloshen and Herman C.P.A.
By choosing to let a local Accountant in Manhattan handle and file your annual taxes for you, you can avoid some of the following situations:
Paying More Taxes than You Owe –
If you are unsure of how to navigate and figure your tax numbers, you may end up being expected to pay additional fees to state or federal agencies than you actually should have to. In some cases, making a simple mistake can result in having to pay additional taxes where you might actually be qualified for a refund.
Receiving Less than You Deserve –
Failing to understand how to claim things like adjustments, tax credits, and dependents may result in a smaller refund than you may actually be entitled to. Everybody wants to get back the maximum dollar amount that they are legally entitled to, which may only be possible when using an accountant for some people.
Suffering through an IRS Audit –
In some extreme cases, a mistake on your taxes could result in an audit by the IRS, even if you have not legally done anything wrong. This is a frustrating and drawn out process that you will want to avoid if at all possible.
There are many reasons for which a person might decide to utilize the services of an accountant when filing their taxes, and the examples listed above are just a few. For more information on how an accountant might be of benefit to you in the process of filing your taxes, you should contact a local professional for a consultation.