Prepare-Your-Own Tax Software: Is This the Best Way to File?

Filing your own returns is now cheaper than ever (or free), but how much is this costing you on your tax return?

Tax professionals are required to keep up on hours of continuing education, ensuring they’re familiar with the latest tax laws and updates. Are you prepared to tackle increasingly complex returns by yourself?

Without a professional review, you may experience missed deductions and credits, improper or overlooked tax elections, and a lack of long-term tax planning, all of which can quickly add up.

At the very least, it’s worth the investment to have a tax adviser either review or prepare your returns every 2-3 years. The reason for this? Any items of income, deductions, or credits that were reported in error or omitted on your original return may only be amended for a period of three years.

In addition to a biannual review, any major milestones in your life: marriage, divorce, having a child, college, retirement, and receiving an inheritance, are all reasons to really consider connecting with a tax professional.