Here are 8 reasons of why it is beneficial for a taxpayer to have their tax returns prepared by Dane Tax Solutions:
1. Cost vs. Benefit – An average tax return prepared by us may cost around $175. Tax software may cost $30-70. You are only paying about $100-145 more for us to do your tax return. There also many other benefits by having us prepare your tax return.
2. Education – To become a CPA, candidates need to satisfy basic requirements outlined by their State Board of Accountancy. Each of the 55 states or jurisdictions has its own set of requirements for education, residency, and age. Current requirements in the state of Minnesota if you want to become a CPA are the following:
Education Requirements / Credit Requirements: 150 semester units (225 quarter units) plus 1 year experience needed for certification, but, not needed to sit for the exam.
Minimum Degree: Baccalaureate with an accounting concentration. May sit with lesser or no degree if experience requirements are satisfied.
Additional Requirements: 24 semester units in accounting at the undergraduate level or 15 semester units at the graduate level.
There is also a requirement of continuing education of 40 hours of CPE per year. To become a CPA requires a large investment of time and money and effort. By comparison, a tax preparer at H&R Block takes a 6-8 week class and is paid around $8.50 per hour while they still charge about the same as we do or more. They are not CPAs nor do they have the same education and training as a CPA.
3. Assurance - When prepared by a CPA, the tax return is more likely to be prepared accurately. Our firm takes a lot of responsibility when preparing the tax return.
4. Time Savings – Preparing a tax return by yourself could take hours and you still may not have prepared it correctly. Having us prepare the return may take as little as an hour of your time.
5. Reduces Your Stress – Preparing your own tax return can be stressful. We will make the experience more enjoyable by saving you time and providing you the assurance that the return is complete and accurate.
6. Tax Planning – We are available all year round to advise you with your tax planning. If there is a life changing event (such as a new baby, buying a home, changing jobs, or starting a new business) we can help you understand how that will affect your taxes.
7. Convenience – As your tax preparer, we will have the accessibility to your tax information and be able to provide it as needed to anyone you are working with to obtain personal or business loans or home financing. For example, if you want to buy a home and the mortgage bankers asks you for a copy of your tax return and W-2s, we can provide that information without you having to search for your return or other tax documents that may be required.
8. Relationship – We will know you personally. At a large tax organization such as H&R Block, you may not see the same person each year.