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Shelton Accounting: A Certified Accountant in VA

It's the time of year when tax documents arrive in our mailboxes, and tax software advertisements start clogging up our social media feeds. If you need help determining whether you must do your taxes yourself or hire a public accountant in VA, the solution (as with most financial choices) relies on your situation. Generally speaking, hiring a professional is a better option the more complicated your return is. Here is why you need a certified accountant in VA:

Why Do You Need A Tax Preparer in VA

A tax professional is likely to be your best bet in the following scenarios:

  • You're self-employed. 
  • You've gone through a significant life transition, such as getting married or divorced, purchasing a home, getting an inheritance, or relocating to a new state. 
  • You are a property owner. 
  • You invest in foreign markets, have foreign accounts, or trade stocks frequently.

Because of the complexities of these cases, using a professional tax preparer in VA can save time, reduce stress, avoid DIY mistakes, and potentially uncover tax savings that even the best tax software may not reveal.

Over 85 million of the e-filed tax returns in 2022, compared to 66.9 million self-prepared returns, were prepared by professionals, according to the IRS. An expert can assist you in the following ways:

  1. The tax code is highly complicated. Instead of you having to keep up with it and all the changes every year, professional tax preparers do. 
  2. You feel more at ease. Stress is already reduced by the knowledge that experts are handling your taxes. 
  3. Making errors can be very expensive. A tax expert can assist in removing errors and making sure your returns are prepared correctly so that no deductions are missed, or an IRS letter or audit is issued.
  4. Tax planning saves you money. Tax professionals can advise you on the best ways to make wise tax-saving decisions now and throughout the year. 
  5. You can also review your earlier returns. If any deductions were overlooked, a tax expert could review your prior returns to identify and correct them. 
  6. You can lessen the likelihood of an audit. A qualified tax preparer also knows how to deal with the IRS in the event of an audit or if it starts to ask you questions that you cannot adequately respond to. 
  7. Reduce the hassle of the self-taxation process.

Your situation and its complexity will determine your tax savings chances. If the income from your job and the interest from a savings account are your primary tax concerns, you don't have many opportunities to save. However, if your situation is more complicated, working with a specialist well-versed in the tax code could lead to significant savings. A good tax expert can do more for your bottom line than just that. Developing a relationship with your accountant can help them learn more about you and your circumstances.

How to Choose the Right Williamsburg Accountants

Once you've decided to hire an accountant, decide which. You'll want to think about a few things first, so it's essential to take your time and do this carefully. You must consider the accountant's location, how the workload will be distributed, and the accounting software you'll employ. Consider how much the accountant will cost you and whether they can help lower your business taxes. Having an experienced, capable individual manage one of the most critical aspects of your business your finances is in the best interests of your company. Here are a few queries to think about when selecting an accountant.

  • What does your business needs? Before looking for an accountant, decide what services you require, not the other way around.
  • Do you need assistance filing your taxes?
  • Do you require assistance with your regular accounting procedures?
  • Do you need more financial tracking?

Determine the primary basis for your need for an accountant, and then search for a candidate with the required qualifications. Also, do some research before speaking with an accountant. Search online for reviews or speak with local business owners to learn more about a specific accountant.

  • What is your background concerning small businesses?
  • How long have you worked in my sector
  • With whom will I collaborate?
  • Do you provide the services I require?

Start Your Journey with Shelton Accounting

Bill Shelton, a United States veteran, started this company in 2014. With over 20 years of experience in the tax and accounting industries, he is the expert you want on your side when the IRS comes calling. Do you want to learn more about the current IRS landscape, small business loans, PPP, and more? Contact us today.