MyTaxAuction Professionals Increase Savings Through Tax Planning

March 12, 2012 –Tax planning is an important element in saving money according to a new eBook released by MyTaxAuction, a leading online tax preparation bidding service.  The eBook, “5 1/2 Reasons you LOSE MONEY Preparing Your Own Taxes" points out that professional tax preparers can save taxpayers money over a long period of time by offering advice and tax filing services.

Taxpayers should be planning for the following year and setting goals that will lead to a breakeven or refund, the new eBook from MyTaxAuction states.  A tax professional can assist taxpayers by examining their tax situation then making suggestions as to where the individual can make adjustments or itemize deductions in order to receive a higher refund.  The book encourages taxpayers to select their tax professional with the mindset that this individual will have their long-term interests in mind.

The eBook states:  “when selecting a CPA, you want to choose someone dedicated to your long term financial future. This is essential in tax planning. You want to choose a CPA who will look at your tax return and provide advice on where money can be saved, and tell you how to keep records and prepare to save more money on future tax returns.”

Part of increasing a tax refund centers on tax deductions and the book states that the IRS allows taxpayers to count the money they pay their tax professional as a deduction.  The MyTaxAuction eBook also emphasizes that a good tax professional often finds deductions that a software-based tax program misses, contributing to a larger refund.  Tax filing software often has to be updated, due to the frequent changes in state and federal tax laws, and has still been known to make errors.  A tax professional makes a commitment of staying informed of tax law changes, resulting in taxes that are filed correctly and that are less likely to become the subject of an audit.

“If you hire a tax preparer upfront, you avoid costly mistakes and the potential for audits and legal fees,” the eBook states.  “Before you find yourself in hot water with legal fees and penalties that require a tax attorney, pay for a tax preparer who will help you avoid legal trouble from the start.”

MyTaxAuction is a free online service that gives individuals the opportunity to put their tax profiles up for auction and receive bids from tax professionals. Members review the tax professionals’ experience, credentials, and areas of expertise and select the tax professional they want to work with.  To learn more about how tax auction works, visit www.MyTaxAuction.com.

About RedGear Technologies
 
RedGear has developed professional income tax software for 39 years, serving thousands of tax professionals who prepare and electronically file millions of individual and business returns nationwide.
 
Contact

Staci Kinshella, Director
Staci.Kinshella@taxworks.com
1265 Sportsplex
Kaysville, UT 84037
Office:     800-529-9000
Mobile:    816-204-4993
Fax:          801-529-9199

Contact Information

Staci Kinshella

Director

TaxWorks

(1) (800) 529-9000

Staci.Kinshella@taxworks.com