Tax Preparation

MYTHS

Common Myths about Tax Preparation

TOTALLY ABSOLUTELY WRONG!!!

Millions of errors are processed through the system every year. All too often the IRS doesn’t even realize there’s a problem with your Tax Return until it processes through the audit department which can be up to 2 years later. Despite huge improvements READ MORE

Don’t be fooled by claims that Tax Preparation Software is all the same, there are huge differences between software and some work better than others READ MORE

If you’re going to make a mistake when hiring a Tax Professional to help, this is the one you absolutely do not want to make.   Preparers come in/with all forms, styles, and qualifications, the difference between preparers can be so extreme that they are READ MORE

Wrong, Wrong, Wrong, and Wrong. There are a few basic requirements established by law that a person who preparers Tax returns for compensation must adhere, but these requirements do not require any training or education. READ MORE

The IRS does employee tens of thousands of people, but these employees are not hired as Tax Preparers READ MORE

Oh Boy is this concept WRONG.

There is nothing generic about Tax Preparation, not only does the requirements of Tax Preparation vary from person to person, but many people find their requirements change year to year. READ MORE

I often get asked…

HOW I keep up with all the changing Tax Rules, and Regulations?

However, it’s truly shocking how many people don’t comprehend just how much work is involved. Ignorance really can be bliss because if you understand, I mean really comprehend the ins and outs of all the complications surrounding Tax Preparation you would not be able to sleep at night. READ MORE

There are two basic forms of Tax Related Issues. Those the IRS catches and those they miss. A lack of an audit doesn’t qualify your Tax Preparer any more than a series of audits disqualifies a Tax Preparer. Audits are routine activities of the IRS and most of modern day audits are conducted semi automatically through a series of letters. READ MORE

Most people either look at Tax Preparation as being spectacularly complex or abusively simple. And the complexity built into the Tax Laws is what provokes such misguided concepts. READ MORE

SORRY TO DISAPPOINT

Tax Preparation is every bit as complicated today as it was a decade ago, in fact, things have gotten even more complicated in recent years because the Tax Laws need to be overhauled. READ MORE

This is one of the most dangerous misconceptions relating to Tax Preparation, Individual and Business alike. We’ve come a long way in terms of software and artificial intelligence, but the very best Tax Preparation Software demands a knowledgeable user to meet its performance expectations. READ MORE

This has never happened to me once in 17 years. I often work steadily throughout Tax Season, the season has its ups and downs, but my preparation for next Tax Season starts when the current Tax Season officially closes. READ MORE