Top 5 Frustrations People Have Doing Their Taxes
Get these quick strategies to help prevent the top common tax frustrations.
Many people would agree that tax season is the most stressful time of year following the bustling holiday season. Individuals, businesses and corporations are dreading the annual process of compiling the proper paperwork, verifying everything is correct and ensuring they can receive the best deal on their tax return.
It’s a time full of frustrations for people and tax filers alike. Below we cover the Top 5 common tax frustrations and quick strategies to help prevent them.
1. Not Understanding the Complex Tax Code
Solution: Don’t try to memorize the entire tax code!
No, but really. You should consider hiring a certified public accountant or an enrolled tax agent with the IRS. They have a far better understanding of the system and can help you find more deductions and credits for a larger tax refund while minimizing the chances of an audit.
2. Organizing & Preparing the Right Paperwork
Solution: Be proactive and consolidate paperwork in a spreadsheet or database.
Make a habit to spend some time throughout the year to input your financial information into a spreadsheet or excel document. If you do this as the year progresses, you’ll keep most of the necessary tax information you need all in one electronic document—saving you and your CPA a bunch of time and hassle later.
3. The Hours of Work and Stress
Solution: Stay organized and hire an expert to help.
If you stay proactive and keep things organized for the most part, you’re already saving yourself a bundle of time. And if you find the right CPA or EA, then they can handle the complicated work that comes after.
4. Rude and Unprofessional Help
Solution: Try an online CPA directory.
Online directories pull the most experienced CPAs, EAs, and tax attorneys all into one space so that you can narrow it down based on location, needs, price and so on. You can even see reviews of real client experiences to get a feel for their professionality and experience.
5. Waiting Weeks or Months for Your Tax Refund
Solution: File early and ensure you have everything ready from the get go.
While there may be no surefire method to have your refund back in a week or two’s time, getting ahead of the game can help. Taxes take time, but when you invest in making sure everything is filed correctly and in a timely manner, you’re more likely to receive your refund faster.
Have More Frustrations You Need Solutions Too?
At FindaCPAtoday.com, we offer tons of free resources and tax information to help you better understand and prepare for the tax season. Our advice comes from seasoned professionals. You can even reach out to one of our many CPAs or EAs to ask questions, develop financial strategies and just overall simplify your tax experience.
Read about other articles that may help you better understand your tax and financial situation.