An article on the Forbes website posted February 7, 2014 weighs in on whether businesses should hire accountants or simply utilize tax software of their own. Taxation laws can be very tricky to comply with; business would do well to take advantage of any method that makes the tax preparation process easier. The article arrives at the following conclusion after comparing both methods:
“Ultimately, the choice of hiring a tax professional or doing your taxes yourself with software should be based on your software skill set and a basic understanding of how your business accounting and taxes work. Your comfort and familiarity with IRS schedules and rules will be part of your decision, but the complexity of your finances should be the key deciding factor.
Those with a single employer and few investments may save hundreds of dollars by preparing their own taxes, while those with business scattered expenses and different types of income like rental properties will find the expense of hiring an accountant to be worth their peace of mind and potential tax savings.”
While many business owners can’t do without the expertise and invaluable tax advice accountants can provide, some businesses may find certain types of tax software more than adequate for the task of tax preparation. Accounting programs offer quick and simple results, and can easily find stored records in an instant. Top-of-the-line Sage 50 Quantum accounting solutions, comes highly recommended with great reviews, can be accessed anytime and is extremely accurate.
In any case, businesses need to choose accounting software with the right functions they need for taxation purposes. Some accounting software allows users to securely store their tax data over the Internet which can be useful for backing up valuable data. Business owners interested in preparing their own tax returns can purchase reliable Sage 50 Quantum software from a trusted vendor like Quantum Buyers LLC.
(Source: Tax Software Vs. An Accountant: Which Is Right For You?, Forbes.com, February 7, 2014)