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Guide to Selecting the Best Tax Preparation Services One of the most significant choices you will make about your income taxes is whether to get your taxes completed with the help of a professional or try to prepare it alone or with a self-guided tax preparation software. Although the thought of using an online tax filing site or software may seem like the practical option, there are considerable benefits to entrusting your tax preparation to the tax professionals. Here are a few of the most important things that you need to remember if you are looking for the best tax preparation services in Cambridge. Check the Costs One essential matter in hiring a tax professional who will personally prepare and file your return is the cost. The price for getting your tax return done by a professional differs anywhere from $60 to $1000 or more, based on the kind and number of tax form(s) you need to file. If your tax situation is complex, expect to pay more for professional tax preparation; if you have to get both your federal and state tax returns prepared by a professional, that will be more expensive too. The standard cost of professional tax preparation is $246, which is expense that most tax preparers will ask for a 1040 Tax Form with itemized deductions (Schedule A) plus a state tax return.
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The IRS obliges professional tax preparers to specify their name and PTIN on returns they prepare. Failure to do so, or asking you to sign a blank return first, may be an indicator that a preparer is up to no good. Directing your refund to a bank account that is not yours is another cautionary sign. Ensure that your return does not indicate “self-prepared.” Good preparers will also request to see last year’s return. If they do not, then it may be an indicator that the tax preparer is not ensuring due diligence and they might be missing several vital items that have to be included in your tax return. Furthermore, the preparer should make sure that there is a secure portal for sending information. Level of Experience Furthermore, it is wise to choose someone with at least a few years of experience in this particular field. He must have the tax knowledge and experience you need, helps you make sense of the process, communicates and negotiates well, addresses issues creatively and has enough experience in your state. For example, some tax returns can be complicated. Some of the most essential benefits of employing professional tax preparation services are convenience and accuracy.