April, Time When the Decision to Hire or Not to Hire a Rochester CPA Must be Made

March 25, 2013

Yes, you can prepare and file your tax forms as well as pay your taxes without the assistance of a Rochester CPA because countless individuals are also doing the same. But since each individual has unique financial circumstances (i.e., income earned, types of personal exemptions, and income bracket) in relation to taxes, then it is an excellent idea to hire a reliable and reputable accountant from the best accounting firm in New York – none other than Rizzo DiGiacco Hern & Baniewicz, of course. Keep in mind that tax planning should be carefully done with tax experts by your side because of the complexity of the Internal Revenue Service laws, rules and regulations. Furthermore, the tax reforms have significantly changed the ballgame, which you may or may not be equipped with the appropriate knowledge, skills, and information to tackle. But if you still have reservations about the necessity of hiring a reliable Rochester CPA for the tax season, here are questions that you must ask yourself.

Do I Require Assistance from a Tax Professional?

Take a look at the complexity of your tax situation. If it is so simple – one income, one exemption, few deductible expenses – that you can do it in your own and you have been doing so for several years, then go ahead and do it sans an accountant. If it is more complicated – several income sources like employment, marketable securities income, and small business profits coupled with several personal exemptions and deductible expenses – then you are well advised to hire the best Rochester CPA your money can buy. A bit of trivia: Did you know that an average taxpayer will spend more than 26 hours on researching applicable tax laws, organizing his tax-related documents, and completing the standard tax forms? That does not even include ensuring that, indeed, the entries are accurate in accordance with the IRS rules and regulations! Just imagine the headaches you can avoid when you hire an experienced accountant/tax expert to do these jobs in your behalf.

Do I Want Long-term Tax Planning?

Planning your taxes is recommended because these levies represent a financial obligation to the government and, thus, lessen your assets. You want to lessen your tax burden, which will increase your profits and assets, all without violating the laws of the United States in general and the IRS in particular. The best Rochester CPA will be your trusted tax advisor in this regard. You will discuss your goals, objectives and action plan regarding your taxes, assets and liabilities with your accountant such that you will get the best of both worlds – maximize your income, minimize your taxes, and comply with the law. If you are on the verge of retirement, then you must also hire an experienced accountant to look over tax-related matters. Keep in mind that your income bracket, personal exemptions and allowable deductions will change during your transition from full-time employment to retirement. It helps to have an experienced accountant to help you navigate the financial complexities of doing so. So, will you benefit from hiring the best Rochester CPA your budget can afford? Of course, you will but you must hire one first before you can say that these benefits are, indeed, well worth your money.

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RDG+Partners wants to be the primary advisor for motivated business owners. The firm is committed to providing boutique level accounting, tax and business consulting services to the Rochester, NY community.