Jay H. Guttmann, CPA- Schenker & Rosenblatt LLC
Even if you hate the thought of spending money on an accountant and even if you’re already feeling broke from buying that house, hiring an accountant to make sure you complete your return correctly is a great idea. Home ownership significantly changes most people’s tax situations and the deductions they are eligible to claim. Additionally, if you just sold your house and are sitting on top of your pile of gold, Uncle Sam is about to come knocking on your door.
Many believe that doing their own taxes will save them money. If you have a very simple return with no deductions, then sure, filing is easy. But when you have a house, which usually qualifies you for itemized deductions, doing a return yourself is almost never a good idea. Hiring an accountant could be one of the best financial decisions you will ever make.
Besides all the substantial deductions and refunds you may miss out on, the IRS has increased the number of audits in the past years. In the last couple of years, the total number of individual taxpayer audits topped 1 million for the first time since 1999, and that number will likely keep growing.
Talk to a CPA right away to discuss how we can help. The average refund for a self-filing US taxpayer who is not buying a house is $1,492. The average refund of filers using a tax professional? $2,615. Think about how much more you’ll save by using a CPA after buying or selling your home
Jay H. Guttmann is a CPA with Schenker & Rosenblatt LLC. Schenker & Rosenblatt LLC, is a local tri-state area accounting firm located in Hackensack NJ. They offer a broad range of services for business owners, executives and independent professionals. These services include personal tax returns, reviews & audits, and outsourced controller/CFO work, among many others. If you want more information you can reach Jay @ 201-525-1222 ext: 212 or email Jay@SnRCPAS.com