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If there’s anything to like about income tax season, it’s the potential to get a nice fat check from Uncle Sam in the form of an income tax refund. And if we overlook (for just a moment) that your refund was always your money, then the bigger the better, right?
If you really want to maximize your refund this year, you need to work with a tax pro to file your taxes. Here’s why:
In a survey of 2,000 taxpayers, we found that people who file their own taxes get an average refund of $1,824. That’s not bad, right?
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Well, get ready for a heartbreaker.
People who worked with a tax expert to file their taxes received an average refund of $2,615! That’s $840 more than the average self-filer!
There are plenty of reasons why working with a pro can result in a higher refund, but it mostly boils down to tax know-how. An experienced tax professional can keep you from making the mistakes that cost millions of taxpayers nearly $1 billion in overpaid taxes every year.
The benefits of working with a professional aren’t all about the size of your refund check. You’ll save yourself the 13 hours the average self-filer spends researching the tax code, gathering documents, and filling out forms by having trusted professional do it for you.
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What to Look for in a Tax Pro
To find a true tax professional, you’ll need to look a little further than the national tax preparation service chains. Those folks are trained to help you fill out your forms correctly, but they aren’t experts in the tax code.
Look for a Certified Public Accountant or Enrolled Agent. These folks are experts in tax preparation and tax planning. That means they can help you save on taxes this year and show you how to save money on your taxes in the future. They can also represent you if you’re audited by the IRS.
Maximize Your Refund Today and Keep Your Money Tomorrow
Now let’s talk about the fact that you’re getting a refund in the first place. While it may feel like a bonus, an income tax refund is simply Uncle Sam returning your own money to you. Wouldn’t it be better to keep that money in your pocket all year long?
If the average taxpayer who uses a pro gets back $2,600, that’s more than $200 a month that could go toward paying off debt, building an emergency fund, or investing for the future! A tax expert can help you whittle down your refund so you can put that money to more productive uses this year.
Tax season is in full swing, so finding a qualified, trustworthy tax expert will only get more difficult between now and April 15. It’s a good idea to ahead and make an appointment with your tax pro as soon as you can. We can put you in touch with a top-notch tax professional in your area today!