What is an easy way to see if I would benefit from having someone do my taxes?

Question

I am single, have 0 children & own no property. I usually do my own taxes (not itemized, only taking the standard deduction), but I keep hearing that I should have someone do my taxes. I have around $50,000 taxable income for 2006. I've been told that anyone who does their own taxes & takes the standard deduction is not getting back everything they should. I don't want to pay someone $100 to get an extra $50 back. Do you know of an easy & free way to figure this out?

Answer 1

File it yourself using the Free file at irs.gov if you make under 52 thousand
http://www.irs.gov/efile/article/0,,id=118986,00.html

Answer 2

If you don't have enough expenses that qualify as itemized deductions to be over the standard deduction total, then a paid preparer isn't likely to find anything, as long as you're aware of what types of things can be claimed on a tax return. For example, if you paid interest on student loans, you might be able to claim some of it even though you don't itemize. And this year almost everyone is eligible for at least $30 as a rebate of telephone excise tax paid.

There's no easy way to know that you are taking absolutely everything that you're entitled to. I suppose you could have a CPA do your return for one year, and see if they come up with things that you don't.

Answer 3

I use TURBO TAX and it will tell me the best way to file (itemized or standard) and the cost is reasonable about $25. Good luck!