SoloTaxPreparation:IsitRightforYou?
Do it yourself tax preparation with the help of a pro
Photo: Beatrice Murch
Some taxpayers wait until April 15 to file their taxes so they can pay up at the last minute, while others may procrastinate because they cannot decide on a preparation method.
Which method to use depends largely on taxpayers’ comfort with their taxes. However, the more complex the situations are, the more likely the assistance of a tax professional should be sought.
Consider these points when debating taking the do-it-yourself (DIY) approach or consulting a tax professional.
DIY
H&R Block at Home products are for tax situations ranging from the most straightforward tax situations, to Premium & Business for small-business owners.
DIY is for taxpayers who are computer savvy and appreciate the flexibility of preparing their taxes at their convenience. Software and online tax programs also provide these benefits:
• Support those who feel strong connections to their finances or who use tax preparation also as an opportunity to adjust their budgets
• Use everyday language to ensure the tax code is easy to understand
• Prompt taxpayers to select the appropriate forms and schedules to ensure the maximum refund they’re entitled
• Allow taxpayers to track the status of their federal tax returns
• Roll over the taxpayer’s tax return information to the next year’s software or online program.
Go pro
New credits, tax law changes, marriage, divorce, birth, adoption, job loss, foreclosure and business-related decisions can mean more complicated tax returns and the need to consult a qualified tax professional.
When selecting a tax preparer, consider these suggestions:
• Only trust tax preparers committed to helping taxpayers claim the maximum
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