How to know that I need to hire accountant to do my tax?

I have no mortagage, no loan, no big expenditure etc.

is there any situation where we do not need to hire accountant and do our tax on our own? Any criteria who should hire accountant?
Does everybody need to waste 75-300 bucks on accountant?

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5 Responses to “How to know that I need to hire accountant to do my tax?”

  1. Rommie said:

    Go to H&R Block. They are the closest thing to a accountant. 🙂

  2. bostonianinmo said:

    I have never paid a pro to do my taxes, though I have done it professionally myself in the past.

    Most taxpayers don’t need any professional assistance to prepare their own return. If you’re a W2 wage earner and don’t itemize there’s no good reason for professional assistance.

    If you have a complicated return with lots of stock transactions, dividend reinvestments or are running a business then professional assistance may be worth the cost. In that case, stick with a CPA as they will provide business guidance as well as tax advice. Business guidance and help with bookkeeping are where a good CPA will really shine. Tax prep is a relative sideline for most CPAs — a lucrative one to be sure, but still a sideline.

  3. mypassions4life said:

    No, you can so your taxes online through turbotax.com (my recommendation) or some other site. It’s really easy to do on your own and it saves you a bunch of money. If you need help you can ask on the site or you can email me – [email protected]. I am a tax preparer.

  4. bsmt said:

    We own our own business, so have to have an accountant do our taxes. The fee is usually around $200. Well worth it in case we get audited, the accountant goes in instead of us. If you make over $100,000 your chances of getting audited increase.

  5. chinweike said:

    There is no law that made it compulsory for us to hire a tax accountant to do our taxes for us. Problem however arise when you get audited like the previous commenter pointed out.
    Again, like you said, you have few properties to account for. This will reduce your chances of making mistakes that could warrant tax audit.

    Cheers!




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