Personal Tax Preparation
Each year when tax season rolls around do you find yourself wondering whether you should prepare your taxes yourself or hire a professional to do it for you? If so, you’re not alone. Preparing and filing taxes is generally a daunting task for anyone who is not well versed in tax laws and regulations. This is why more and more individuals are seeking the help of a professional to assist them with their tax planning and filing.
Here at Minton CPAs & Associates:
We’ve been taking the stress out of tax season for individuals in Virginia Beach, Norfolk, Chesapeake, and throughout the Hampton Roads communities for 32 years. It is our goal to handle the heavy lifting for our clients, as well as equip them with financial knowledge that will not only benefit them during tax season but also throughout the entire year.
What Do Personal Tax Preparation Services Include?
Personal tax preparation services are designed to help individuals and their families with preparing, filing, and understanding their taxes. This includes the use of software or online applications that can be used to file personal income taxes electronically.
At Minton CPAs and Associates, our personal tax preparation services are performed by CPAs who are experts in preparing and filing taxes. We can help with everything from basic returns to more complicated forms.
While it’s not uncommon for individuals to file their taxes on their own, a few key indicators that you would benefit from the help of a professional tax preparer are as follows:
You are self-employed or have a side hustle.
You have experienced a major life change such as marriage, divorce, having children, or purchasing a home.
You have failed to pay the IRS in the past or have unpaid taxes.
You are filing a return that includes the sale of investments such as stocks or real estate.
We’ve been taking the stress out of tax season for individuals in Virginia Beach, Norfolk, Chesapeake, and throughout the Hampton Roads communities for 32 years. It is our goal to handle the heavy lifting for our clients, as well as equip them with financial knowledge that will not only benefit them during tax season but also throughout the entire year.
What Are The Benefits Of Having A Professional Prepare Your Taxes For You?
There are many benefits that come with outsourcing your taxes to a professional tax preparer. A few of which include:
Being sure that you will receive the maximum refund possible
Avoiding costly mistakes that could lead to penalties from the IRS
Having a professional that knows how to implement tax saving strategies
Receiving expert financial guidance that goes beyond just tax season
Saves you stress, time, and money
Having a professional that knows how to implement tax saving strategies
What Are Tax Saving Strategies?
As professional tax preparers, there are a number of strategies we can implement to reduce your taxes and help you keep more of what you make. Some examples of this are:
01
Utilizing investments to defer tax liabilities or to produce income that is tax exempt.
02
Having your expenses or income taxed at a lower rate by shifting them to a different year when possible.
03
Shifting your income to a lower tax bracket by splitting the income between multiple family members.
How Often Should You Meet With A CPA For Tax Planning?
Proper tax planning is an important part of your financial health.
You should meet with your CPA at least once during the year to review your tax situation. This is an opportunity to review changes, get advice, and make sure that you’ll be able to take full advantage of all the deductions and credits you qualify for.
Being proactive about your taxes can save you a ton of money when it comes time to file your return. Click here to learn more about our tax planning service packages.
Personal Tax Preparation Software
At Minton CPAs & Associates, we ensure that our clients receive their tax documents and refunds as quickly as possible by using our state-of-the-art tax software which allows us to check your returns for accuracy before we electronically file them.
Even if you opt to file your taxes on your own, it will require that you use some type of software if you’re looking to file electronically in order to get a speedy return.
If you are someone who doesn’t have the time or patience to learn how to navigate a tax software, you will most likely find it completely worth it to outsource this to a professional.
How Much Does It Cost To Have Someone Prepare Your Taxes?
The average cost of hiring a CPA to prepare your individual tax returns typically starts at around $350. This rate will vary depending on the complexity of your specific situation and the extent of services needed.
Where Is The Best Place To Get Your Taxes Done in Hampton Roads?
Are you looking for a local professional to help you with your taxes this year? Personal tax preparation can be a worrisome task. That’s why at Minton CPAs & Associates, we’re here to help! We are a locally owned accounting firm that is based in Virginia Beach. Our firm prides itself on providing exceptional tax and accounting services. We understand that everyone’s situation is unique and can provide a custom solution to meet your needs. Our team of professionals will work with you every step of the way to ensure that your taxes are done correctly and that you receive all the deductions and credits to which you are entitled. We want to help you keep as much of your hard-earned money as possible.
There’s no reason to spend hours trying to figure out complex tax laws – let our professionals do it for you. Working with us and our hassle-fee system will save you time, money, and frustration. You will be able to rest easy knowing that your tax return will be done accurately and on time. There will be no need to worry about fines or penalties from the IRS for inaccurate information or filing late. Let us take the stress out of preparing your taxes so you can focus on what’s important – living your life. We hope you will consider us to be your trusted tax partner.