There is plenty of debate concerning the pros and cons of doing your taxes by yourself. In some ways, it could help you save the money that you would otherwise pay a professional.

Yet, the truth is that it could prove more costly and time-consuming if you make any mistakes while filing your taxes.

To help you better understand the debate, and get the most out of your tax return, we examine a few of the top reasons to hire a CPA to do your taxes for you. 

Anyone who pays taxes may feel the crunch during the few months leading up to tax season. For small business owners, however, that crunch can feel more like a crushing weight, comprised of worry about what to do and apprehension about making a mistake doing it.

With a specialty in personal and small business tax preparation, I enjoy helping people and companies navigate the complex waters of tax codes and laws. Since they can change every year, having a professional manage your small business taxes could significantly lighten your worries so you can focus on the continued success of running your company. 

To help people save time and return their taxes by the April deadline, there are several options that help guide you through filing your own taxes quicker and more conveniently.

Unfortunately, quick doesn’t always equate to accurate, and a quick guide cannot adequately teach you the many laws, codes, standards, and deductions that you should know before filing.

More small businesses and law firms are discovering that they can save a great deal of time and money by outsourcing key functions to outside firms, such as accounting firms. Does this mean that outsourcing is always the best option? Not necessarily, says CPA Ann Irons. Before you decide whether to outsource certain tasks, learn as much as possible about what is available and what to look for.

The end of the year is fast approaching, and you’re most likely in one of two camps: Either you’ve been diligent in your collections, or you are just now realizing that you have hundreds, even thousands of dollars in fees billed but not collected. Ouch. Ann Irons, a CPA in Holliston, MA who offers accounts receivable services for businesses and law firms, explains that waiting until the last minute can have serious implications for your finances.

As an accounting professional servicing real estate law practices based in Holliston, MA, CPA Ann Irons has learned a great deal about what works and what doesn’t in her clients’ day-to-day financial functions. She has also worked with clients who learned the hard way the challenges of managing changes in accounting requirements and performing reconciliations of trust accounts. Outsourcing payroll, accounts receivable, and accounting functions to a professional accountant is one of the most effective ways to make daily operations more manageable. Otherwise, consider these pointers.

If you are a citizen of a country other than the United States who has generated investment income within the US, you may be eligible to claim the Foreign Tax Credit. This particular credit is open, with certain conditions, to income that would otherwise be taxed by both the United States and your country of residence. However, the requirements for claiming the credit are complex; it is best to partner with a tax preparer who is knowledgeable in matters of foreign investment in the US.

Buying a home is one of the most exciting, albeit stressful experiences in your life. If you plan on taking out a loan to pay for your home, you will most likely be required to establish an escrow account. What is an escrow account, and how will it affect your tax return?

One of the most challenging aspects of accounting for real estate lawyers involves managing escrow accounts. Neglecting to check and re-check escrow transactions can bring on time-consuming, expensive problems that affect your clients as well as your reputation.

Foreign investment in United States real estate is not for faint of heart. Volatile exchange rates and a less than ideal housing market make for risky business. If you are new to real estate investing, a basic understanding of the risks and benefits can mitigate these risks.