The tax profession is a complex and diverse industry. There are so many different types of tax and areas of specialties. With all the various areas of tax come even more titles associated with the tax professionals who serve those areas. It’s hard for people to know whether they need or want a CPA, a preparer, an advisor, an accountant or a specialist.

Many educators are aware of the deduction they can take on the front of their tax return for out-of-pocket expenses that aren’t reimbursed by the institution they teach for.

Protecting those important documents and records at the bank each year can be expensive. Good thing there’s a tax benefit for it.

I don’t know if you knew or not, but the fee you paid to have your tax return prepared this year is deductible on your tax return next year.