Tax preparation is simply the process of preparing and filing a tax return.
This is generally one time a year that culminates in signing your tax return and finding out whether you owe the IRS money or will be receiving a refund.
For most small business owner this process involves one or two trips to see their accountant (CPA), around tax time (i.e., between January and April).
At this time they would hand over any financial documents necessary to prepare the tax return.
At times an enrolled agent, attorney, or a tax preparer who doesn’t necessarily have a professional credential may be engaged by the small business owner or individual to prepare their taxes.
For simple returns, some individuals may even prepare and file their taxes with the IRS themselves.
It is important to note that no matter who prepares your tax return, they should be trustworthy as you will be entrusting them with your personal financial details, skilled in tax preparation, and accurately file your income tax return in a timely manner.
If you’re ready to learn how a tax and accounting professional (CPA), can help you save money on your tax bill this year, don’t hesitate to call the office today.
User | 5/01/2022