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Gregory L Buhrow CPA PC

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  • Gregory L Buhrow, MBA,CPA

Photograph W-2 ... Tax Return Done?

Now that basketball season is in full swing and I am watching my favorite college and pro teams - Baylor Bears and Dallas Mavericks - I see commercials showing a number of happy people clicking pictures of their tax information with their smartphones and ... I guess their tax return magically gets done?


I would bet that every person reading this is smart enough to do their own tax return. They are probably smart enough to fix their own electrical outlets and repair that faulty drain under the sink ... but they don't.


Why?


Because they do not have the expertise or experience to repair a circuit breaker or a leaking drain. They will pay $150 - $250 to have the issue repaired by a professional electrician or plumber so that this will not occur while they are on vacation ...


or this while at the kid's afternoon soccer game ...








So what about your tax return?


If you have any more than a W-2 and some interest or dividend income, you should seek the advice of a Certified Public Accountant who specializes in tax compliance and planning.


Just because money comes in the door, it is not necessarily taxable, just like when money goes out the door, it is not necessarily deductible.


And, you don't want this to occur 8 months after you click a picture of your W-2 and receive this in the mail while you are on vacation ...

IRS Notice of Amount Due

Another reason to have a relationship with a financial and tax professional, is because, even though you know how electical panels, drain pipes and tax returns work ... your spouse may not. And should anything happen to you, you will want your spouse to be taken care of in the best manner possible ...



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