Delaying your tax work can be tempting with the stress it causes and the arduous amount of work that goes into creating a correct tax report. But there are some incredible benefits to getting your taxes done early. Not only do you get emotional benefits from getting taxes off your plate, but there are some serious monetary benefits for early filers that you’ll want to consider as you make your plans.
What are the benefits of early tax planning and filing?
There are two important aspects of early filing of your tax return and those are: first protecting you from potential scammers and identity thieves, secondly you will have a better filing schedules, and better access to professionals to help you put together your tax report for the year. You have everything to gain from filing your taxes early.
Below are some great benefits to consider when deciding to file early.
Identity Theft
No one can be completely immune from identity theft, however, filing your taxes early greatly reduces the risk of your refund being hijacked by identity thieves. If your social security number is at risk, thieves can use it to file for your refund, preventing you from filing. This is a hole many people find themselves falling into every year that can be dodged by filing early.
Stress
A big part of annual tax filling is stress that comes with it. Filing taxes is hard, tedious, and even expensive depending on which company you use to help you file. While you can’t avoid this stress 100% just by filing early, you can greatly reduce it. You get your paperwork done and have ample time to make adjustments if something has gone wrong.
Related Questions
When Do I Need to File By?
Generally speaking, April 15th is the final day you can file your taxes by, though you can do it as early as January if you have all the documents necessary and the ability to do so. There can be significant fines for failing to file on time without an extension.
How Much Does It Cost to Have Someone Do My Taxes?
On average you can expect to pay someone anywhere between $150 to $275 depending on the work you need done and any itemization you need them to do. That is for basic preparation. More involved filings increase the cost and prices vary depending on the CPA firm. Getting your taxes done for you by a professional can greatly lower your risk of making a mistake. Don’t fret this tax season and get it done early beginning with an experienced CPA and Tax Accountant.
Tax Avenger is an experienced full-service CPA and Tax Resolution Firm helping clients throughout Michigan. We provide efficient, cost-effective service with exceptional skills and experience to handle all needs. We offer a full complement of services from business, Individual, financial and tax consulting to accounting services, and so much more. As tax specialists, our expertise and knowledge ensure compliance with government laws while maximizing benefits and minimizing tax liabilities. Call us today and speak with an experienced CPA for a Free Consultation!