When tax season rolls around, many customers can't help but wonder, should a professional do my taxes or should I do my own taxes? The tax experts at IntentGen are proud to serve as your guide to doing your taxes and other financial resources like Estate, Investment, Insurance, and more! Learn more about doing your taxes to ensure you're getting your biggest refund.
Should a Professional Do My Taxes?
When it comes time to do your taxes, you have two options: do it yourself using tax software or through the IRS website or hire a tax preparer to handle your taxes. Let's explore your options further below!
Doing Your Own Taxes
If you choose to do your taxes through the IRS website or using a tax software at home. You can print it out and mail in your paperwork through the mail. However, most people prefer to file their taxes online and have their refund directly deposited into their bank account. Using the software isn't difficult, and it often includes instructions walking you through filing your taxes. Depending on how you decide to file your taxes, there could be a small fee to pay.
Hiring a Tax Professional
Those who choose to hire a professional should only hire someone qualified, such as a tax lawyer, CPA, or an enrolled IRS agent. You can find credentialed preparers at taxprepareregistry.com. Hiring a professional can start at $100 and vary based on where you live and how complex your taxes are. Accountants, however, can cost twice the amount. The average charge for preparing and filing a tax return is $216, according to the National Association of Tax Professionals.
Should I Do My Taxes or Pay Someone?
When it's time to decide whether you should do your own taxes or hire someone, there are several things to consider before you make your decision.
You should do your own taxes if:
- You have the time and patience to get it done on time.
- Your tax situation is straightforward.
- You're a business owner or self-employed and feel okay navigating your business-related tax forms.
- You're comfortable filling everything out and know how to get the biggest refund for yourself.
You should hire someone to do your taxes if:
- You don't have enough time to get it done on your own.
- Your tax situation is complicated with dependents, investments, or significant assets.
- You want to itemize your deductions.
- You've had one or multiple life changes during the last year, like getting married, buying a house, or having a baby, which will all impact your tax filing.
- You don't know if you will cover all your bases.