Apr 06 2009
Tax Tip: do your taxes yourself, even if you also plan to use a professional
You should do your taxes yourself, even if you plan to use a professional for your official tax preparation. Tax prep software costs about $50 and is well worth the investment. By doing your own taxes you can learn enough to ask better questions of your tax preparer.
I’ve used both high-end and low-end tax preparers, and after doing my own taxes for just one year I realized that both made MARJOR mistakes. Not only did these “professionals” cost me lost money to the government, but I had to pay them to do it!
So here’s the deal: be an informed buyer of financial services and do your own taxes at least once every five or ten years. You’ll learn a lot about what’s important, and you’ll be able to work more efficiently with your tax preparer in the future.
