Why use a professional for your tax preparation?

Five Star Insurance Agency, serving Woodbridge and Fords, NJ, offers tax preparation services beyond their regular lines of business with insurance.Some may think of this as a wonderful service while others may ask, "Why do I need tax preparation?"

Tax Preparation Services for New Jersey Residents

The inconvenient truth about the tax code, both federally and in New Jersey, is that it is a minefield for the unwary. The governments in Washington and in Trenton have made complying with tax law a very complicated business. With all of the exceptions, credits, deductions, and loopholes that have been tucked into the tax code over the years, it only makes sense to seek the services of a professional who is versed in all of those aspects.

A person who is attempting to do his or her own taxes must consider two things. First, have all of the deductions and other opportunities to save money on taxes been taken advantage of? Governments have laden the tax code with all sorts of ways to save money if one fits certain situations. A professional will be able to figure out which of those cases you fit into and get you the most savings possible under the law. No one likes paying taxes, and that doubly goes for paying too much taxes.

Second, the tax code is permeated with opportunities to violate the law, taking deductions mistakenly that you are not entitled to, not reporting types of income as required, and not having the paperwork to back up one’s return, which is necessary if one is called into an audit. A tax professional will be able to navigate you through those treacherous waters and keep the tax man from your door.

For information on tax preparation or all aspects of insurance, contact Five Star Insurance Agency, serving Woodbridge and Fords, NJ.