Preparing for Taxes

A new article on mytaxhq.com raises some good points on how to reduce your tax preparation fees. At first many may think that the number one suggestion is to find a cheaper accountant. However, that is not the case. While the points appear to be geared towards individuals, businesses can also benefit from most of the points this article has to offer:

1. Organize your records

2. Prepare taxes after February 15th

3. Avoid refund anticipation checks

4. Hire a licensed tax professional

I strongly encourage everyone to read the article before waiting to send information in to your accountant after February 15th. Businesses and business owners should send their information to their accountant as early as possible, for many businesses with tax years ending December 31st, the tax deadline is March 15th, a month earlier than the individual tax deadline. However, it is good to note that individuals should wait to receive all of their official tax forms since a forgotten tax form can cost taxpayers (see http://www.dh-cpa.com/506). 

However, taxpayers should also note that hiring an accountant can save them money in the long run. From helping you claim deductions you wouldn’t have noticed, to helping you plan for taxes all year-long, an accountant can be looked at more like an investment than an expense.For the full article refer to: http://mytaxhq.com/4-ways-to-reduce-your-tax-preparation-fees/#!

Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].

Alyssa McBride, Associate Accountant

Davis & Hodgdon Associates CPAs