DIY or hire a tax pro? USA Weekend has a checklist
I’ve occasionally heard from readers who are shocked that we hire a tax professional to do our tax returns. After all, we don’t make THAT much money.
Actually, I did used to do my own taxes. I gave up the year my daughter was born and I freaked with the time that would be involved with calculating joint vs. married filing separately and then, if separate, which parent was to claim the child!
Every time my husband and I start thinking maybe we can do our own, we realize we’d have a question. And since we have worked with the same tax professional for years, she does catch things we might not pick up on such as which college tax credit was more appropriate to claim, and what year was the last year we could claim my daughter as a deduction.
As a result, we book an appointment and plan on tax preparation fees as part of our routine expenses.
That being said, there are taxpayers who certainly can DIY. We did Freefile for my daughter’s returns one year.
Which is the best approach for you?
Take a look at this article at USA Weekend: Taxing issue: Is it better to file your own return or hire a professional? The piece explains some of the circumstances that bump taxpayers into the more complicated forms so you can figure out the level of DIY ability involved.