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The Pros and Cons of Small Business Tax Services

 

For  a work at home mom or other small business leader wondering whether or not to hire a professional tax preparer or small business tax service, there are benefits and disadvantages to creating a business partnership with one of these professional accounting shops. Here are some things to think about when considering professional tax help for a busy tax filing season.

Pros

  • Getting the numbers right - Professional tax preparers help you to calculate all of your revenues and expenses to make sure that the numbers are correct, lowering your overall liability with the IRS.
  • Audit protection - In the case of an IRS audit, many professional tax preparers will talk to the Internal Revenue Service first before you have to get involved as the subject of an audit.
  • Tax code changes and extras - Since these tax professionals spend their careers dealing with the U.S. tax code, they are much better able to keep on top of changes and small items that you might have missed on your own.

Cons

  • Cost - A lot of tax preparers are not cheap, and you will have to budget in some extra money for paying tax services to calculate your tax bill or refund.
  • Scheduling - It can be hard to coordinate with a tax service when it gets close to April 15, but some of the pros outlined above usually make it worth your while as a work at home mom or other self employed or 1099 contracted person to take advantage of professional tax services when tax season rolls around.

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