Income Tax Filing: Expectations vs. Reality

Income Tax Filing: Expectations vs. Reality

For consumers and small business owners looking for income tax filing in Mesa, many approach the experience with certain expectations. These often-misaligned expectations can set business owners up for an unrealistic reality.

To aid the Mesa community in proper filing expectations and financial decisions, we’ve compiled a list of common expectations and their more logical realities.

Expectation: We’ll Spend Hours Over Every Financial Detail

As an employee or business owner, you’re good at what you do. But that doesn’t make you an expert at tax filing, bookkeeping, and other detailed financial processes.

We find that many clients are overwhelmed by the myriad of forms and paperwork required to get the job done. Most people assume it will take several hours to meticulously work through the data.

Reality: You’re Not the Tax Filing Expert, But We Are! This Shouldn’t Take Long

When working with expert income tax filing, Mesa services like ours know exactly what to do. You’re borrowing our expertise. As professionals, we must acquire regular training and certifications to ensure we’re on top of the latest updates and requirements.

Our team is adept at navigating every element of tax preparation and filing, so you don’t have to be. These are the skills that save you time and money.

Expectation: My Tax Filing Professional Will Know Exactly What Deductions I Can Claim

Deductions depend on many different factors, including income, large purchases, business expenses, if any, investments, and family size. Many assume the tax filing professional will have a whole list of deductions ready to apply to each client’s taxes.

Reality: This Is Impossible to Know Beforehand

A tax filing service’s job is to apply deductions, not find them. The sheer number of possibilities makes it highly improbable to predict and prepare for what each client will qualify for. If possible, prepare a list in advance of items that you may be eligible for and share it with your accountant.

Expectation: My Finances Are Under a Microscope

A home or business’s finances can be a delicate subject. Many people are concerned about potential criticism or scrutiny they may receive from the tax professionals about their financial well-being or habits.

Reality: M&M Tax Filing Professionals Understand

The financial circumstances of many people change drastically over time due to economic impact, jobs, and market fluctuations. Our team is compassionate and empathetic. We are not in the habit of treating clients in any manner other than perfectly professional.

Expectation: Paying A Tax Accountant Is Going to Be Too Expensive

While you are paying for skilled professional services, it doesn’t mean they’re wildly out of your budget. Filing your taxes is a necessary part of civic responsibility, and processing them incorrectly could have devastating consequences.

Reality: Tax Filing Services Are Reasonably Priced

This process is a necessary expense, and it’s not worth the risk of seeking a cheaper DIY solution. In many cases, customers receive money back from the government. The peace of mind that comes with knowing your taxes have been properly handled is priceless.

Prepare for Tax Filing in Mesa

Here are a few tips to help you prepare for your tax filing appointment in advance.

  • Bring all necessary forms of identification (ID, social, tax ID, etc.)
  • Collect all income documents (W2, 1099, unemployment, etc.)
  • Keep detailed records and receipts of all possible deductions

If you need tax preparation or filing assistance, call the professionals at M&M Accounting LLC for services Mesa businesses trust!

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