It’s finally here, 2007, a brand New Year filled with lots of brand new possibilities, so much so, that I just can’t wait to see what wonderful things are yet to come. I am like Saint Paul in the bible; I am pressing towards the mark of the prize of the high calling in Christ and I am not looking back. However, there is one thing that we all have no choice but to look back upon and as much as we want to ignore it, we simply can’t and are even required by law to recap and compile. Have you guessed what that “one thing” is? Yes, it’s that time again people; it’s time to file our TAXES!
Yes, with every New Year comes the preparation of the dreaded taxes. I refer to them as dreaded taxes because there was a time when I had to compile and file my own taxes and it was not a pretty sight. I had receipts and notes and yellow post it sticky things everywhere. I remember about 5 years ago, a couple of my colleagues stopped by my home office to bring me a few pieces of documentation that I needed in order to complete my tax preparation and when I opened the door with my floral robe and grey sweats on; they just stood there and stared at me and after I took the pencils out of my hair, they looked at each other and asked in unison “Is Karen home”? After we all had a good laugh, I told them this was my tax preparation uniform and it had served me well over the years.
The following year my associates introduced me to my own personal accountant who has saved me hours of personal frustration and kept me off the worst dressed list. Although, I did have to learn to keep better records, it was much easier for me to hand over my records and allow the professionals to do what they do best. When I prepared my own taxes I would have to research the new tax laws each year to find out what changes had taken place. There were some years that I ran into issues because I found conflicting information on the internet and would have to stop what I was doing and follow up with the IRS directly to insure I was filing my taxes properly. If any of you have ever had to call the IRS, you know that what you thought would be a 10 minute conversation can turn into a 45 minute to an hour long event. Not only does hiring a tax professional save you time, it can save you a ton of money as well.
This month I will be highlighting 3 specific resources for you to consider when filing your 2006 income taxes (Turbo Tax, HR Block and Liberty Tax Service) Today it’s all about Liberty! I discovered this company as I was driving by a local strip mall when I saw a couple of familiar figures waving to me; it was uncle Sam and the Statue of Liberty in the flesh! The very sight made me smile, so I just had to go in an see what this company was all about.
In 2004 I was concerned that I would owe a significant amount of money to the IRS because of my income as well as some other investments I had going on at the time, so I wasn’t sure which way I wanted to go concerning filing taxes, so I decided to take my stack of financials over to my local Liberty Tax Service office and see what they had to offer. I provided some basic information to one of the accountants and in the matter of one week I had my return ready for my signature and to my surprise instead of owing the IRS that year, I received a $10,000.00 refund, so I was pleasantly surprised.
Liberty Tax Service is a franchise, therefore the fees vary depending on who owns the franchise, so it’s smart to call ahead and get information prior to visiting your local office. Although, you will not be able to file Online right now, the technology is coming soon, but for now you’re able to go online and locate a local office in your area or go to the IRS link for additional tax information. Liberty Tax Services offers professional tax preparation services that include tax preparation, bookkeeping, electronic checks and E-filing.