Ronald Reagan once said, “Even Albert Einstein reportedly needed help on his 1040 form.” That must have been true, because Albert Einstein himself said that, “The hardest thing to understand in the world is the income tax.” If Einstein felt that way about the Tax Code then, when tax law was only a fraction of what it is now, he would probably have been rightfully horrified at the sheer volume of today’s tax laws. New Yorkers are particularly hard-hit, with taxes imposed by governments at every level.
If Albert Einstein needed help with his taxes, that doesn’t bode well for the rest of us. No one is legally or morally obligated to pay more than is due; savvy people take advantage of every possible legal strategy to reduce the tax bill. Help is not forthcoming from the taxing authorities — it’s common knowledge that callers to the IRS help lines receive wrong information far too often. The only reasonable choice, and one that many make, is to find the best tax expert and rely on their expertise. Good tax planning is essential for businesses, especially when their profit margins are under extreme pressure. Individuals also need to structure their affairs to minimize their tax liabilities and protect their estates.
When choosing a tax expert, it’s a good idea to keep in mind that someday the dreaded ‘appear for an IRS audit’ letter may arrive. When that happens, having a tax expert who is fully prepared and knowledgeable about what is required will be invaluable. Facing auditors is not an experience anyone wants to have, but if it happens, the only good option is to be fully prepared.
C York CPA has been offering personalized financial services to their Manhattan clients for over 30 years. The team of experienced CPAs focuses on meeting and exceeding client expectations and achieving successful results. Tax laws and regulations are constantly changing, so while the accountants are expected to keep up-to-date, the firm also makes every effort to inform their clients of these changes with a newsletter and daily updates on their website. Any individual or business searching for reliable and skilled Tax Preparation Services in Manhattan should browse their website and investigate their capabilities.