News & Trending Tax News

12 Ways a Tax Professional Could Get You a Bigger Refund

You might want to think twice about filing your tax return on your own.

couple consulting loan broker at office
Updated Sept. 24, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Many taxpayers opt to file their taxes independently or using tax software, but overlooking potential deductions or credits could mean missing out on a bigger refund.

Hiring a tax professional or certified public accountant (CPA) could uncover opportunities to maximize your refund and boost your bank account.

Here are 12 ways a tax professional could help you secure a larger tax refund.

If you’re over 50, take advantage of massive discounts and financial resources

Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.

How to become a member today:

  • Go here, select your free gift, and click “Join Today”
  • Create your account (important!) by answering a few simple questions
  • Start enjoying your discounts and perks!

Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.

Become an AARP member now

Professionals know the latest tax rules

Drazen/Adobe finance advisor and client using laptop

Tax laws are constantly evolving, and professionals stay abreast of the changes. They can apply the most recent regulations to your tax situation, potentially uncovering new deductions or credits that benefit you.

They can also interpret complex IRS tax code changes and how they affect your specific financial circumstances, ensuring compliance and maximizing your refund opportunities.

Determine which tax credits you’re eligible for

GR/peopleimages.com/Adobe male colleagues using laptop at office

Tax professionals have a keen understanding of various tax credits, such as the Earned Income Tax Credit (EITC). They can accurately assess your eligibility and ensure you claim all applicable credits to maximize your refund.

They can provide guidance on optimizing your eligibility for tax credits through strategic financial decisions and planning throughout the year.

They can double-check to make sure you aren't missing any deductions

polkadot/Adobe asian couple couple consulting finance advisor

Tax professionals meticulously review your financial records to identify deductions you may have overlooked. From traditional IRA and health savings account (HSA) contributions to lesser-known deductions, they leave no stone unturned to optimize your tax return.

Additionally, they can provide proactive advice on tax-saving strategies and expense tracking to maximize your deductions in future tax years.

Resolve $10,000 or more of your debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1

How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.

Try it

They can ensure you're following all IRS rules

Drazen/Adobe multi ethnic couple consulting finance advisor

Compliance with IRS regulations is crucial to avoid penalties or audits. Tax professionals ensure that your tax return adheres to all applicable rules and guidelines, reducing the risk of costly mistakes.

They can also provide ongoing support and guidance to help you navigate complex tax laws and regulations, ensuring continued compliance and minimizing your risk of IRS scrutiny.

They can help you make strategic tax-planning moves

Drazen/Adobe African American financial advisor with couple

Tax professionals offer strategic insights tailored to your financial circumstances. Whether optimizing retirement contributions or timing capital gains, they can devise tax-saving strategies that align with your long-term goals.

They may also provide personalized tax planning advice to help you minimize your tax liability and maximize your financial resources over time.

They can help you gain better visibility into your taxes

sebra/Adobe business woman discussing work with client

Tax professionals provide clarity on complex tax matters and help you understand how various financial decisions impact your tax liability. With their expertise, you can make informed choices that maximize your refund.

Financial professionals can offer proactive tax planning advice and recommendations to help you optimize your tax situation and achieve your financial objectives.

They can help you file your tax return

Studio Romantic/Adobe finance advisor asking couple to sign

Entrusting your tax filing to a professional can ensure accuracy and timeliness. They handle all aspects of the filing process, from preparing the return to submitting it electronically, streamlining the process for you.

Additionally, they can provide ongoing support and assistance throughout the tax filing process, ensuring a smooth and hassle-free experience.

They can save you time

Rido/Adobe businessman discussing deal with happy couple

Tax preparation can be time-consuming and stressful. In some cases, it could take up to 20 hours to complete an average tax return with deductions. 

By delegating this task to a professional, you free up valuable time to focus on other priorities while knowing that your taxes are in capable hands.

Further, they can provide efficient tax preparation services and proactive tax planning advice to help you save time and streamline your financial management processes.

They can correct any errors you made

Drazen/Adobe african american finance advisor with client

Even minor errors on your tax return can have significant consequences, including an IRS audit. Tax professionals meticulously review your documents, identifying and rectifying any inaccuracies to prevent potential issues with the IRS.

They can also provide ongoing support and guidance to help you address any tax-related concerns or issues that may arise, ensuring timely resolution and peace of mind.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

They can reduce your risk of an IRS audit

Drazen/Adobe african american loan broker with couple

Tax professionals employ best practices to minimize the likelihood of an audit. By ensuring accurate reporting and compliance with IRS regulations, they shield you from the stress and scrutiny of an audit.

Furthermore, if you do get audited, they can provide proactive support and representation to help you navigate the audit process effectively and minimize potential negative consequences.

They can compare against your previous tax returns

InsideCreativeHouse/Adobe advisor explaining paper to senior couple

Reviewing your previous tax returns allows tax professionals to identify patterns and inconsistencies. By analyzing your tax history, they can optimize your current return and identify areas for potential improvement.

Moreover, they can provide personalized tax planning advice and recommendations based on your unique financial situation and goals, helping you achieve better outcomes in future tax years.

They can reduce your stress and improve your finances

A. Frank/peopleimages.com/Adobe couple shaking hand with finance advisor

CPAs undergo rigorous training and adhere to stringent ethical standards, providing reassurance that your taxes are handled with expertise and integrity. Their professional guidance can alleviate stress and instill confidence in your financial decisions.

Additionally, they can provide comprehensive financial planning services and ongoing support to help you achieve your long-term financial goals and objectives.

Bottom line

nyul/Adobe consultant explaining contract to senior couple

Considering the complexity of the tax code and the potential for overlooked deductions or credits, hiring a tax professional or CPA could prove invaluable in maximizing your tax refund.

Reflect on your tax situation and consider whether enlisting professional assistance could lead to a bigger refund and greater financial peace of mind. And as a result, you could grow your net worth over time.

Lucrative, Flat-Rate Cash Rewards

5.0
info

Wells Fargo Active Cash® Card

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks
Card Details