If you’ve ever wondered whether it’s best to file your own taxes or hire a professional then you’re not alone. Taxes used to be complicated with more users requiring expert help in the past, however, with new tax filing software available making tax filing easier, roughly 40% of people are doing their own taxes. That being said, because tax laws are getting much more complicated and the IRS have been increasingly auditing the middle class with little or no assets, there are a few situations where the help of a tax expert may help dramatically:
- Those who are self employed
- Those who invest whether through securities, stocks, mutual funds, etc.
- Those who own a trust fund
- Those who are going through significant changes that can affect you financially such as divorce or employment status change
- Those who do business in multiple states and therefore need to file in multiple states or cities.
If you have an easy return, there are some great tax filing software that can literally guide you step by step through the process in under an hour, however, if you find yourself bewildered or unsure throughout the steps, consider consulting a tax professional.