Tax preparation is the process of preparing tax returns for individuals and businesses. This includes gathering information, calculating taxes owed or refunds due, and filing tax returns with the appropriate government agency. Tax preparation can be done by individuals or businesses that specialize in providing this service. Professional tax preparers are knowledgeable about the various laws and regulations related to taxation, as well as how to best utilize deductions and credits to maximize a taxpayer’s refund or minimize their liability. They also provide advice on how to plan for future taxes.
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