Preparing your own personal income tax return is a risk that many cannot afford to make. Personal income tax return preparation can leave you with more questions than answers, and that is why having an expert tax team, such as Torchlight Tax & Accounting in Las Vegas, on your side is so important.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. However, if you have a good understanding of taxes and keep up with the changes in tax law, you can file your own taxes and save the tax preparation fee.
There are ways you can get yourself in trouble filing on your own, or using a partially-trained tax preparer, like those at the franchise tax mills:
Going past misunderstood words on your tax form (1040).
Guessing where to put a number because it must go somewhere.
Listening to or getting help from a friend who is untrained in tax.
Watching YouTube videos recorded before their authors went to jail.
It is easy to overlook deductions and credits to which you are entitled.
The computer software program cannot input the numbers for you. There’s no substitute for the assistance of an experienced tax return preparer in Las Vegas, like the EAS and CPAs at Torchlight Tax.
The Torchlight Process
Here is how the process works at Torchlight Tax:
You will be carefully interviewed at the start of the tax preparation process to uncover any deduction or credits you might not be aware of. This can be done in a virtual interview, on the phone, or in person.
Your tax documents can be sent electronically, dropped off, or mailed in.
Your prior year’s tax return will be reviewed to make sure nothing is missed and to use as a starting point in your current year’s taxes.
An EA or CPA will do your tax return. In addition to accurately entering the data, he will be looking for any possible tax savings.
Additional questions may be asked you in searching for tax breaks.
Once the return is done, a second EA or CPA will side check the tax return, and asking himself “Are there any other possible tax savings?”
Once the return has been perfected, with the maximal tax benefit for you, you will come in, sign the e-file authorization form, pay the fee, and your tax return will be filed electronically with the IRS.
At this point, if you need IRS Representation or IRS Debt Negotiation, we will advise you on your next step. We are a full-service tax firm, and, unlike most EAs and CPAs, much less licensed tax preparers, we are intimately familiar and experienced with the ins and outs of IRS Representation and IRS Debt Settlement.
We will also advise you of tax savings strategies for the new year and answer any questions you may have.
We go through this very thorough process every time we do a tax return. Your tax return is done right and double-checked. Some may think this takes extra time, but they would be incorrect. Making mistakes on tax returns or leaving clients with unanswered question or concerns is what takes extra time.