Tax accountants strive to prove their worth in this age of tax software by claiming that their personal touch and intimate knowledge of the tax code can get you better returns. While some people can benefit from professional help, others can easily do their taxes on their own.
A post at Promo Spread says the two factors that determine whether or not you need to hire a pro to do your taxes are the complexity of your situation and the time you have available.
Home businesses and freelance work complicate things considerably, and the myriad deductions that come with home ownership and families only up the difficulty level. If you’re in over your head, it may be worth springing for an accountant. On the other hand, if you’re willing to put in the time it takes to research the appropriate credits and deductions you’ve got coming then you may not need the help.
One way to approach the situation is to attempt to do your taxes on your own and hand the mess over to a pro if you’re dissatisfied. In any case, these last few weeks of the year are a good time to get your financial house in order so you’re not scrambling in April.
Should You Hire Someone to Do Your Taxes? [Promo Spread]