Taxes - Should I Hire Someone?

It's that time of year again...

I'm sure you've seen the commercials touting tax preparation software. In fact, have you seen the commercial promoting the do-it-yourself tax software wherein the husband says, “Uh Oh…?” Apparently he runs into a problem, and his wife picks up the software box and says, “Hello, can you help us?” Funny; but true. All too often, we think we can save money by preparing our own taxes, but then the “Uh Oh” factor rears its ugly head.

So the question is: Do I need to hire a tax professional?

The answer is: it depends.

Check out some of the reasons why you would hire a tax professional:
* If you are not fully familiar with how to prepare taxes.
* If you do not understand the tax code in your state.
* If you have to itemize your deductions.
* If you do not want to deal with the IRS one on one.
* If you own a business.
* If you don’t understand the questions on the tax form.
* If you have stocks, bonds or other mutual funds.
* If you’re retired and are unsure of your tax status.
* If you’ve researched online, but are more confused by the answers than ever.

There are so many things you may not be aware of that can save you time, money and a headache that won’t quit by hiring a tax professional. Perhaps you’ve always had your taxes done by a professional who knows you, the state of your finances, and who is better equipped to handle your taxes. Quite frankly, if this is case, you are better off.

With tax laws constantly changing, isn’t it better to put yourself in the hands of someone who is knowledgeable in this area, than stressing over what and how to do it yourself?

While some people have the innate ability to use the tax software available successfully, there is an old adage that says, “If it ain’t broke, don’t fix it.”

On a personal note: I hire a tax professional. Why?
1. I answered "yes" to almost every one of the factors listed above.
2. It saves me time and headache.
3. The money is WELL SPENT!

What are some of the reasons that you use (or don't use) a tax professional?