Do accountants really have secret tips to save taxes?

k2h2

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These days we have so many YouTube channels run by accountants with all these tips. At such, why should someone pay an accountant to suggest ways to save tax when all information is available free?
 

leechesBleechin

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These days we have so many YouTube channels run by accountants with all these tips. At such, why should someone pay an accountant to suggest ways to save tax when all information is available free?
Most people don't, They pay accountants to deal with the paperwork and keep track of everything so you don't need to.
 

k2h2

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Most people don't, They pay accountants to deal with the paperwork and keep track of everything so you don't need to.
Paper work is even not needed as there are free calculators for taxes.
 

Freelancer_83

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people don't want headaches to fill their own.
Of course, you can do it yourself but CA is good at managing taxes and since they handle and fill it for a lot of people they do have experience.
They do know stats about tax deductions under 80c and other stats.
Of course, you can prepare and fill on your own if you don't have complicated income.
 

xReminisce

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Just like everything else in life
You can do most things yourself, but you will still choose to outsource it.
Why pay for a SEO service when you can create links yourself?
Why pay for an outreach service, when you can outreach yourself?
Why pay for writer when you can write yourself?
Why pay for a kw researcher, when you can do it yourself?
Why pay for an VA when you can do it yourself?

Sometimes, it's time vs money in addition to proficient knowledge vs self-taught, some people rather spend that $ to get someone to take care of it for them then go through the trouble of understanding, learning and doing it themselves.
 

Goat10

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It's better to work on your business than working in your business. If you are in profit, outsourcing these kinds of tasks is the best option, it will help you focus on things which you can bring the best ROI for your time.
 

TechEinstien

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They know various tax deductions. So, they can save you some more taxes and also guide you to save taxes in future too.
 

polecat

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If you hire or understand Taxes well enough you can save decent money a year so the idea of Accountants having secrets to save Tax paid is actually true for example since I did qualify as an accountant I know a lot of tricks or ways to save money on taxes or ways to in theory hide your money so you can pay tax at a lower rate than someone native country.

You probably heard a few times this idea "Rich person pays lower tax rate than everyone else" the reason for why is many richer people hire a very smart Accountant or other people showing them ways to save big money on taxes or other ways.
 

webmasterbd

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Nowadays, you can learn everything there is to know about medical science, diseases, symptoms & treatments online. Then why do people still go to physicians?
 

TextChampion

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As someone in the industry, I can say that most people pay accountants because they simply don't want to do the work themselves. Anyone can find ways to save money on taxes by reading the Internal Revenue Code.
 

k2h2

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As someone in the industry, I can say that most people pay accountants because they simply don't want to do the work themselves. Anyone can find ways to save money on taxes by reading the Internal Revenue Code.
Yes paper work can be huge for big companies.
 

breakcode

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I think when you have a business, you already have enough problems on your mind. You definitely don't want to fill your head with the tax question as well :)
 

Tribune

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I would like to add that businesses can quickly get into legal trouble if they make mistakes with taxes. I therefore give everything to an accountant to be on the safe side legally.
 

k2h2

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I think when you have a business, you already have enough problems on your mind. You definitely don't want to fill your head with the tax question as well :)
Yes, that can be one of the reasons. Less headache.
 
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