Tax Prep: DIY or Pro?

6856_ser_121205_TaxPrep1-LDoes it seem like the Do-It-Yourself tax preparation folks are especially aggressive this year? The commercials seem to have changed their tone, from “it’s not that hard, you could probably do it yourself…” to “NOBODY knows your situation better than YOU do, so do it YOURSELF, stupid!!”

So, you may be thinking about DIY tax prep this year and, if so, you probably have some questions. ALSO has questions that will help you decide whether to DIY or hire a pro.

If you are considering DIY:

  • Do you know your tax situation – filing status, available tax credits and deductions, changing tax laws that affect you, etc.?
  • If you have questions or get stuck, will you know where to get answers?
  • Are you confident that you have kept good records throughout the year?
  • Are you really private and picky about who sees your financial and personal info?

Why you might consider hiring a pro:

  • The whole tax thing freaks you out.
  • You don’t have (or don’t think you have) the time to spend on the preparing your return.
  • You’ve had a major change in your life (kids, job, bought property, moved out of state, etc.) that’s going to complicate the process this year.
  • You think a pro will be able to “get you more money back,” which will cover his costs.

Answer these questions honestly, and it should help you make the right choice. Then, read the rest of this article to find out how to proceed, whichever path you choose. Either way, you want to get it right!

So, which have you done in the past? Are you more comfortable one way or the other? Did you go one way, and then switch? Let us know over at the MindField Online Facebook page!