Tax preparation software and tax preparation services can get you to a similar finish line, but the journey and risks are quite different. Tax preparation software is a computer program that helps you complete your tax return. It asks you for information about your income, deductions, and credits, and then calculates the amount of tax you owe or the amount of tax refund you are due. Tax preparation services are companies that provide complete assistance in completing your tax return. They can help with all sorts of tax situations, including complex returns. They often have accountants on staff who are up-to-date on the latest changes in the tax law.
Tax preparation services allow you to fully hand your taxes over to another person to complete your tax forms. You only need to sign the final tax forms and pay. However, it is always a good idea for you to check your tax returns for errors before you sign.
Tax preparation software allows you to enter details from your tax forms into an online program that converts them into finalized tax forms. These apps are accessible online, via desktop software, and via mobile apps. Prices can vary depending on your requirements, but are often lower than what you would pay to have your taxes prepared by someone else because you are doing a lot of the work yourself.
If you are familiar with computers and understand tax law, DIY tax preparation and tax prep software might work for you. If you prefer someone else to do the work, want to avoid errors and reduce the possibility of an audit, then you may prefer having a professional prepare your taxes. You can decide what is best for you.
Abreu CPA offers a wide range of tax preparation services to meet your needs. We can help you with all sorts of tax situations, including complex returns. Our team is always up-to-date on the latest changes in the tax law, so you can be confident that your return will be done correctly. Contact us today to get started!