Signs You Should Hire Someone to Do Your Taxes

March 9, 2016

I’m so glad my wife and I already filed our taxes.  It’s too nice a day today to worry about something like that.  Nothing to do now but wait for that refund check to arrive.  I think we’re going to use it to go to Vegas this year.  Hurray Tax Refund!  If you haven’t filed your taxes yet, you have a little over a month—they’re due April 18th this year.  The big question:  Should you do them yourself, or have a  pro handle it?  Well, here are four things to think about . . .

If the answer to any of the following questions is “yes”, you might want to just pay to have them done.  If you answer no to all of them, you can probably save some money and just do them yourself online.

  1. Is your household income more than $200,000 a year? If so, you’re more likely to get audited, so go to a professional.
  1. Are you self-employed, freelancing, or a business owner? Doing your own taxes can be a little trickier if that’s the case.
  1. Did you make money on investments last year? That usually means the stock market.  If you made a lot of money on stocks, go see someone.  And the same goes if you inherited a bunch of money.
  1. Did you have a major life event last year? Like getting married, starting college, or having a baby?  If you did, then hiring someone to do your taxes might save you money, because they’ll make sure you get all the deductions you can.