As we approach tax season, I wonder how many people understand the potential huge difference in the quality of tax returns? What does a tax return really look like? Are the tax returns prepared by the mall tax office of the same quality as the major public accounting firms?
Accuracy in the income tax return in Point Cook simply means that the information provided by the customer is reflected in the tax return. This does not mean that the tax return is made in the BEST way that can be prepared. In fact, I RARELY see tax returns from new clients prepared the way I prepare them.
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What does it mean to have a "quality" tax return? Can the tax return really be prepared in such a way as to reduce income tax? As someone who has been preparing tax returns for almost 30 years, let me share some thoughts on this subject.
During this tax season, review your own tax situation and the advice you get from your tax advisor/CPA. Did you get the return you wanted? Did you get the planning idea you need? Will your taxes go down or keep going up? Taxes are such an important part of wealth creation that you can't ignore one of the most important parts of the tax planning process – preparing your tax return.