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Guide to Income Tax Preparation in Manhattan

Nothing puts more dread in some people than income tax preparation in Manhattan. We all have to pay taxes so there is no way out of preparing taxes. You may feel you can prepare taxes on your own. This could be true if your tax situation is simple and you know how to fill out basic forms. However, even with simple tax situations, you may be missing some deductions. You will be cheating yourself out of a bigger refund or pay more taxes. You can choose form various kinds of tax professionals.

The best option for tax preparation is a CPA or Certified Public Accountant. A CPA is an agent that has passed specific examinations and has fulfilled licensing requirements in the United States. This means they have competed around 150 hours of business related college course work. After they complete their education, they must pass the CPA exam which takes fourteen hours. They are still required to take 40 hours of continuing education. Most businesses and self-employed people hire CPA’s to do their taxes. The only negative is they cost more to hire. However, they offer numerous services and need good character.

The least costly service comes form a basic tax preparation agent. They may be referred to as non-enrolled agents. These tax agents will commonly be seen in well know tax establishments. They can be ideal if you have a simple form. An enrolled agent is a step over the basic tax preparation agent. Though they have no formal education, an enrolled agent must be licensed by the IRS and take continuing education. They need to pass a special enrolment test as well as a background check. The test is eight hours and commonly takes two days Enrolled agents are ideal if you have one or two 1040 forms. They would likely be more competent than a basic tax preparation agent. They can get their licensed removed for wrongful conduct. All tax preparation agents must have an IRS ID number.

Hiring a professional income tax preparation in Manhattan agent makes more sense than taking a chance yourself if you don’t understand taxes. You want the least tax bill or the biggest possible refund. A professional tax agent like Woloshen and Herman, C.P.A. can make certain you get what you deserve. Click here for more information.

          

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