Death and Taxes

The Dreaded Tax Season: DIY or Hire a Professional?

To Pay or Not To Pay - That Is the Question

It’s that time of year again—tax season! Whether you’re excited to get your refund check or dreading another year of paperwork, filing taxes is something we all must do.

But the million-dollar question is: do you tackle your taxes yourself or pay a professional to file them for you? Let’s break down the pros and cons of both options so you can make an informed decision.

Do it Yourself (DIY):

Filing your own taxes can be intimidating, especially when it comes to understanding the ever-changing tax regulations. However, if you have a fairly straightforward return, taking the DIY route can save you money and give you peace of mind knowing that everything was done according to your own specifications.

Plus, there are plenty of digital tax-filing programs available that can make the process easier and less time-consuming than it used to be. Just don’t forget to double-check all your calculations—the last thing you want is an audit from the IRS because you miscalculated something!

Millions of people swear by Turbo Tax as the way to do taxes yourself. I used Turbo Tax during the years when I wasn't running a business or side hustle. And since I never got audited or thrown in jail, I assume everything was done correctly. Math isn't my favorite topic so I tend to hire a professional.

Hire a Professional:

If your taxes are more complex than usual (or if math isn't your strong suit), hiring a professional is probably the best option for filing your taxes correctly. A professional tax preparer has the expertise and experience necessary to maximize deductions and ensure that everything is filed properly.

They will also be able to answer any questions or concerns you may have about filing your taxes correctly. Of course, hiring someone else comes with its own set of expenses, but ultimately it might be worth it in order to avoid potential penalties from incorrect filings.

Although using a professional will cost a bit more than doing it yourself, it comes with some peace of mind and, in many cases, support if you do get audited. To me, it's worth having an expert review everything and offer guidance along the way.

Wrapping up

Whether you choose DIY or hire a professional, remember that filing taxes is a necessary evil in order for our government to collect revenue for essential services like infrastructure improvements, education funding, and social security benefits.

However, it would be nice if the government treated tax dollars like they treat their own money so there wasn't so much waste.

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