It’s always easy to go with the flow, to do things the way you’ve always done them, or to follow what everyone else is doing, but what if following the status quo isn’t always in your best interest? The same goes for doing your taxes. Tax software is the easy way to complete your taxes, but it might not be saving you the most money. The tax professionals at QualiTax can help you save more money on your taxes. Our tax consultants stay up to date on all the latest tax laws, allowing them to find deductions on your taxes that tax software can easily miss. We offer a variety of services including small business accounting and IRS help. With more than 38 years of experience QualiTax is large enough to get the job done, but small enough to know your name. Contact us at 410-346-5431 to schedule your appointment today.
There are certain cases in which listening to conventional wisdom is helpful, however, depending on your individual situation, following the advice of conventional wisdom could do more harm than good. In this blog, we will take a look at some pieces of conventional wisdom that may not be right for you.
Homes are Always a Good Investment
In today’s society, there is a lot of pressure to own your own home, but that doesn’t mean you should jump on the bandwagon and call a Realtor®. There are some cases where buying a home could land you in some serious financial trouble. For example, if you are still trying to pay off student loans and you live in an area where homes are expensive, it might be a bad idea to make such a large investment. It’s also important to keep in mind that some homes require a lot of maintenance and TLC. Until you’re ready to jump in with both feet, there is nothing wrong with renting a house or an apartment while you save up the money to one day buy a house.
Avoid Debt at all Costs
In most scenarios, a lot of debt is not a good thing. On the contrary, when buying a house or in certain business situations, debt is not the end of the world. If you make a large purchase or investment, you want to be sure that you can comfortably manage your debt and pay it off on time.
Sell When Your Stock is High
If you see that your stocks are doing well, your first thought might be to cash-out while the money is good. In some cases this is a wise decision, but you want to have high-performing stocks in your back pocket at all times. By cashing out your stocks at their peak, you will leave yourself with a bundle of low-performing stocks which is not something that you want.
You Can Do Everything Yourself
With all the tools and software available, it’s easy to complete projects yourself. However, managing your own stocks or doing your own taxes is a lot different than fixing the tub or remodeling the kitchen. Just because you can do the project yourself, doesn’t mean you should.
The tax professionals at QualiTax have the experience and knowledge to find deductibles on your taxes that tax software might miss. Many people choose to do their taxes themselves, but by hiring at tax consultant, you can save both time and money. Why wait? Call QualiTax today to schedule an appointment. We look forward to working with you.