Q: Why should I hire a tax professional?

The benefits of hiring a tax professional will far outweigh the expense of not having one. When it comes to resolving your tax situation, save yourself the stress and headaches and get it done right the first time around.

 

Q: Do I need to wait for my W-2 before filing my tax return?

Yes. Unfortunately, using paystubs to prepare your taxes is not allowed. If you have not received your W-2 by January 31st, contact the employer and ask them to provide you with a copy.

 

Q: How do I know if I need to file a tax return?

Whether you’re required to file a tax return will depend on several factors, including your gross income, filing status, age, and whether you’re a dependent on someone else’s federal income tax return. You may have to file even if you don’t owe any tax. Contact a tax professional to help you determine whether or not you are required to file a tax return.

 

Q: How will outsourcing the accounting and bookkeeping help?

Accounting information helps you strategically manage your company (or your personal finances) and provides the ability to think strategically about where your money is going will help you more productively use your resources. With good accounting and bookkeeping, you will be able to make better decisions, take corrective actions when you’re off-course, and make sure you’re getting maximum value from every dollar you spend.

 

Q: What if I am starting a new business?

Starting a business is challenging and success may be easier achieved if the management focuses on the core business and outsource bookkeeping to a firm with qualified, experienced accountants who are knowledgeable of the latest accounting practices.

 

Q: Why can’t I do the bookkeeping myself?

It may be more efficient, in terms of time and money, to outsource bookkeeping to a firm rendering professional services.

 

Q: How much time and money can I save if I outsource accounting/bookkeeping?

Simple bookkeeping would take at least 3-5 hours a day if performed by an accountant. This time may be better spent managing the operations of the business.Hiring an in-house bookkeeper or accountant to perform accounting, tax compliance, and payroll tasks may cost more than the professional fee of a firm that can perform the same tasks. The firm would also have the contractual obligation to ensure continuity of services regardless of any changes in its manpower.