2007-01-25 05:20:34 · 7 answers · asked by Princess 1 in Business & Finance ➔ Taxes ➔ United States
Unless you have read the entire tax code yourself, or you file the 1040EZ with no deductions, I would use a tax pro. Even H & R Block can save you more money than you pay them. It is worth it. Don't waste money on the software.
2007-01-25 05:25:23 · answer #1 · answered by J.R. 6 · 1⤊ 1⤋
The point at which and individual should stop using tax software and go to a tax pro is when they have to come onto YA to ask several questions that are simple for a tax pro to answer but are stumping them.
2007-01-25 14:31:03 · answer #2 · answered by skip 6 · 0⤊ 0⤋
First I have never even used tax software. It is very easy to follow the instructions on the tax form.
Now as to when to get a tax pro. I would say if you have a very complicated situation such as running a business with items that are depreciated.
If you are not good in math and don't like filling in forms and looking through tables then go right ahead and buy software or get a professional.
2007-01-25 13:29:48 · answer #3 · answered by Barkley Hound 7 · 0⤊ 0⤋
When your tax software runs into a tax issue that it can't handle and tells you to find the form and fill it in yourself and come back and key in the amount into the program.
If you're a typical taxpayer with a home, a retirement account or two and mabye a small investment account you probably never need to go to a pro.
2007-01-25 13:26:32 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Why don't you run a test this year. Buy the program and do your taxes. Then take it to a tax pro and see what they tell you. Then you will know the difference, if any. Then you can share the information with us. You may take the extra hit this year, but you won't be making the same mistake year after year.
2007-01-25 13:29:53 · answer #5 · answered by Tedo 3 · 0⤊ 0⤋
Very good question. I think a good rule of thumb is that if you are self employed, and or have multiple streams of income, it is a good idea to seek the help of a professional. I did my own taxes until 2 years ago when my wife became an independent contractor. I decided at that point it was less expensive for me to pay a professional than to miss out on deductions that I would miss out on if I did my won taxes.
2007-01-25 13:26:23 · answer #6 · answered by howardrourke 3 · 1⤊ 0⤋
You have that backwards, If a person knows how to do their taxes then they should not go to a tax pro.
H&R, JacksonHewit, and the others Co. are no gaurantee that the person behind the desk is better than the person doing their own taxes.
2007-01-25 13:26:45 · answer #7 · answered by whatevit 5 · 0⤊ 1⤋