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Freelance to Founder
[Q&A] Should I hire a CPA or use a tax software?
May 21, 2024
Explore the advantages of hiring a CPA over using tax software, including tax-saving strategies and long-term tax planning. Learn about the inefficiencies of a CPA duplicating tax software work and the benefits of proactive tax planning. Understand the importance of continuous tax planning for business growth and optimizing tax deductions. Discover how the wealthy approach tax payments and minimize tax burdens with strategic planning and professional assistance.
16:07
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Quick takeaways
- Hiring a CPA can lead to significant tax savings due to their in-depth knowledge of tax laws and ability to leverage tax-saving strategies.
- A proficient CPA offers continuous tax planning assistance, optimizing tax strategies and minimizing the risk of unexpected tax bills.
Deep dives
Benefits of Hiring a CPA for Taxes
Hiring a certified public accountant (CPA) for tax purposes can lead to significant savings due to their in-depth knowledge of tax laws and ability to leverage tax-saving strategies. A good CPA can help navigate the complex realm of tax regulations, with around 90% of the IRS rules dedicated to finding ways to reduce tax liabilities rather than just paying taxes. For instance, a CPA can utilize various legal provisions, such as employing family members to reduce tax burdens, ensuring maximum tax efficiency.
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