Are you trying to decide whether you should contact an accounting service or use an automatic online filing service for your taxes this year? While online filing may seem easy and fast, it's often plagued with issues that would not occur through a traditional accounting firm. Here are a few of the major benefits an accounting firm has over quick online filing.
1. Accounting Services Ensure Your Information Is Correct
If you mistakenly type in $60,000 rather than $6,000, an online filing program isn't going to catch that error. An accounting service will. Accounting services double check to make sure that your data is correct, that you're claiming everything that you should and that you haven't forgotten or doubled up on anything. Unless your taxes are very simple and you are very certain of your own accuracy, an accounting firm may be the better bet.
2. Accounting Services Have Lessened Identity Theft Risk
In recent years, many online filing companies have come under fire for identity theft concerns. Online filing companies store almost all of your personal data. Someone breaking into your account could file your taxes for you, getting a refund sent straight to their home address rather than to you. Accounting firms follow very strict security protocols and will protect your data in a far less accessible way.
3. Accounting Services Can Advise You On Future Decisions
If your tax bill is strangely high this year, your accounting firm can advise you on ways to lower it next year -- perhaps you aren't taking as many business deductions as you should, or maybe you aren't contributing enough to your retirement fund. Online filing companies usually don't offer any type of consultation service; if they do, it's usually an additional charge.
4. Accounting Services Can Protect You From an Audit
Many accounting firms are skilled in knowing what will red flag a business or individual filer for an audit. If you're concerned about the potential ramifications of an audit, an accounting firm will tell you what risk factors could contribute. Moreover, accounting firms can help you avoid traditional mistakes that can lead to time-consuming audits and corrections.
You can still file online through an accounting service -- in fact, in many cases, you have to. Your accounting service will send the documents to the federal and state governments through the Internet, so it will still be filed and processed just as quickly. But you will have benefits that an online filing company simply doesn't offer. For more information, contact a firm like J H Williams And Co LLP.