INDIVIDUAL TAX PREPARATION
Tax regulations are ever changing, making it impossible for the average person to keep up with the most current policies.
When tax season rolls around you have a decision to make. Should I file my taxes alone or should I get some help? If you decide to get help, then the question is where to go? A CPA in Reno, a national accounting firm, or use some sort of online filing aide? At Evans Nelson & Company CPAs, we find that many times when a person decides to file their taxes themselves they end up with more questions than answers.
There are reasons why a person may decide not to hire a CPA, but there are far more reasons why a person should. Even if you believe that your financial situation is simple and your return is not complicated, you may be missing an opportunity to save money. One of the reasons people decide against hiring a CPA is that it costs money. Yes it does. However, our knowledge of the tax laws and regulations often result in saving our client’s money by reducing the tax they pay and the fees they pay for our services.
Tax regulations are ever changing, making it nearly impossible for the average person to keep up with the most current policies. This is one reason why hiring a CPA can help you. CPAs are required to stay on top of all tax changes and to attend a specified amount of continuing education each year.
If you choose to file your taxes on your own, it is likely that you may not do it accurately. If the IRS receives an incomplete or incorrect return, then your refund will probably be delayed and/or you could get correspondence from them. A CPA can help you file an accurate tax return, thus avoiding these problems.
Not only can a CPA help you to file your taxes accurately, they will make you aware of any opportunities to save money. If you are trying to decide whether to hire a CPA, then you need to consider your situation closely. It is likely that a CPA can help you in many ways with your tax preparation and tax filing.
Frequently Asked Questions
One of the first things people want to know about CPAs is how much does their service cost. Unlike other professional services, there is no set amount. It varies on how organized and prepared you are, the complexity of the return, and the overall time it is going to take to prepare your taxes. It is important to remember that you are hiring an expert who can save you a lot of time, questions, frustration and money. This should be factored into your decision to hire a accountant or CPA, because your savings will likely be larger than the initial cost.
When you are faced with an IRS business audit, you are most likely going to be stressed and overwhelmed. Hiring a CPA to help you is the best decision you can make. IRS auditors are trained at asking the right questions to get the most money from you. During this stressful situation, play it safe and smart– have a CPA on your side. They have the experience you need.
When is the best time to hire a CPA? The simple answer is now. Establishing a relationship with an experienced CPA can significantly help you with your personal and business tax preparation, financial and business planning, and help you plan and maximize your financial goals. It is also better to hire a CPA early on, rather than after you get a notice from the IRS (“love notes” I like to call them!).
Knowing what to have prepared before meeting with a CPA or accountant is important. Being prepared will save you on preparation fees, and potentially increase your deductions. Although it may take you a little extra time to get prepared, it will only help you in the end. Gather any medical documents for medical deductions and also items like property tax documents. Bags of grocery receipts (which you don’t need) and important tax documents (which you do) all jumbled together will only be a costly and time consuming waste–separate and organize!
Knowing how often to meet with your CPA will help you maximize your CPA’s services. Many people look to CPAs as a kind of history service that goes back and reviews, and then prepares. This is somewhat true, but you need to be aware of the fact that you will benefit more by understanding how a CPA can help you with preparation and timely decision-making. By only meeting in the crunch time just before April 15th, you miss out on any potentially beneficial tax and financial decisions that can be implemented during and prior to the end of the year.
EVANS NELSON & COMPANY, CPAS
160 West Huffaker Lane
Reno, NV 89511
Phone: (775) 825-6008
Evans, Nelson & Company has been our CPA firm for many years. A trusted advisor who is always looking out for my best interest…I give them my highest recommendation!
Evans, Nelson & Company has been my firm’s Accountant for over 10 years. Not only have they prepared our taxes, but they have stepped in when we needed book keeping assistance. Tim, Emily and their staff are extremely competent and have made me and my staff feel valued as their clients.
I just want to give a shout out to our CPA @ENCPAs!! If you need an awesome CPA give Tim a call at (775) 825-6008. He Know His Stuff!
We have worked with ENCPA’s for 15 years. They are highly professional, organized and excel in offering smart strategies for your business and personal finances. We wouldn’t use anyone else! They are the best!
I give them 5 Stars! Evans Nelson & Company CPA’s are fast and reliable. They are up to date on all tax code and have helped me save money on my past several returns, as well as plan for future tax implications.