Do you think it's better for someone to do their own taxes or to get them done by a professional?

Guru

I'm especially wondering which option would help the person to get the most money back.

Doing their own is better.

Using a professional is better.

Select age and gender to cast your vote:

GirlGuy

23

8

Most Helpful Guys

COMMODOREII | 2.6K opinions shared on Other topic.
Master

1 mo

I have been doing my own for years using turbo tax but then i was a tax preparer for Jackson Hewitt about 20 years ago. If you have no idea or understand how to do then a professional can help. However i would suggest everyone should get the experience i get by working for Jackson Hewitt or H&R Block during tax season who will train you and help learn how the tax code works. It is always better to know what is going on with your taxes.

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Is this still revelant?
- Flower7
  
  1 mo
  That's a great idea to work for a tax company to get experience. That would save a lot of money in the long run, with being able to do my own taxes afterward.
- COMMODOREII
  
  1 mo
  Yeah it worksed out great
JPrez
Yoda

1 mo

Years ago I paid to have mine done but it's a racket. I'd buy Turbo Tax and use it. The cost is generally around $50 or so and they walk you through every step like you were a 5th grader and make it easy to use. Do that and never look back.

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Is this still revelant?
- Flower7
  
  1 mo
  Well I definitely like the sound of that price! And I'm at about a 5th grade level when it comes to filing taxes, so that seems like it would be a good fit.
- JPrez
  
  1 mo
  Yep. All you need is a computer and you can probably pick up a copy at Office Depot, Walmart or Target for example.
- JPrez
  
  1 mo
  Also make sure you pick up the version for 1040 single filer - it will say on the box.
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- Flower7
  
  1 mo
  Thanks for the tips!
- JPrez
  
  1 mo
  You bet. 👍

What Girls & Guys Said

821

Apple1996 | 1.8K opinions shared on Other topic.
Influencer

1 mo

I always do my own taxes since they're easy.

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Red_Arrow | 2.2K opinions shared on Other topic.
Master

1 mo

A good way is to use a tax software, like like Tax Cut, or HR Block if your taxes are rather simple. Those softwares look for things you might not look for yourself. They can handle incomes from a single job and Social Security, as well as investments. If you have more sources of income, as well as certain deductions like medical assistance to a handicapped dependent, then it may be best to have a professional do it for you, and if there are any mistakes, the professional would be responsible for the penalties. You can get tax software at a very low price that is very good.

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- Flower7
  
  1 mo
  Since I have 3 jobs and am also a student with loans, a professional might be best! There's a lot of room for mistakes that I don't want to be responsible for!
- Red_Arrow
  
  1 mo
  That would probably be best. But takes notes. You may decide to do it without the professional next year. I actually think what you describe is not too complicated. Tax software easily takes care of three jobs. But there may be tricks with the way you handle the loans to save some money.
MORPHEUS_12 | 925 opinions shared on Other topic.
Guru

1 mo

It truly depends on whether you have a tricky tax situation. I do them myself but on some years I have had a complicated return, then I seek help. It also depends on whether you are taking a standard deduction or you are itemized. An itemized return is more involved because you have to have a lot more receipts and documentation.

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- Flower7
  
  1 mo
  Since I didn't understand half of the things you just said, trying to do my own taxes probably isn't the best idea lol
- MORPHEUS_12
  
  1 mo
  I just did my taxes yesterday and TurboTax walks you through all of that. They take the guesswork out of it and have explanations for everything. Don't let it scare you.
- Flower7
  
  1 mo
  Good advice, thanks.
CalmYourTits | 53 opinions shared on Other topic.
Xper 6

1 mo

Depends on how complicated your finances are.

If you only have one income, don't own a home, no investments, and you can comprehend the paperwork yourself... than do it yourself.

However, if you have multiple streams of income, passive income, stocks, a businesses, own a home, etc than get it done by a professional.

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Jjpayne | 6.2K opinions shared on Other topic.
Master

1 mo

I did do turbo tax with some help but id prefer to use a professional simply because there are some questions that simply are not that easy. And making guesses on turbo tax or a form is sending guesses to the irs and if they disagree, while maybe rare, it is not a good day 😅 so I figure play the money and just get it done In confidence or better yet learn from them and use turbotax next time

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Ms_Vanderquack | 66 opinions shared on Other topic.
Xper 6

1 mo

Depends, if they are single with no dependents and just have a W2 to worry about do it yourself. Otherwise it may get a little more complicated than you feel like dealing with.

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- Flower7
  
  1 mo
  True, the convenience sometimes makes getting help worth it, even if it's more expensive to pay someone.
ChrisMaster69 | 230 opinions shared on Other topic.
Yoda

1 mo

A professional, tax and all that can be fairly complex, especially when you are looking to reduce the amount of tax and what you can claim back etc,

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- Flower7
  
  1 mo
  Professionals definitely take a lot of weight off my shoulders so it's probably worth it to pay someone.
- ChrisMaster69
  
  1 mo
  Yes very much so
WhiteSteve | 4.9K opinions shared on Other topic.
Master

1 mo

I pay to have mine done, but I have complicated deductions, etc. But if it’s just punching up your W-2 form and medical insurance info, I wouldn’t spend extra money on it, it’s simple enough to do online with one of the tax processing websites.

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WindAtMyBack | 233 opinions shared on Other topic.
Yoda

1 mo

Do it yourself unless you have an IQ below 70. The only exceptions might be if your taxes are very complicated. In almost all other cases, it won't make any difference in the amount of taxes you pay. For most people it's pretty straight forward.

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Relentless1
Xper 2

1 mo

Search out a good professional. Not all tax preparers are good or even that knowledge about tax laws. There are loop holes, grey areas and multiply ways to do some deductions. I had my taxes prepared one year by three different people and got three different results.

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exitseven | 345 opinions shared on Other topic.
Yoda

1 mo

I have a degree in Accounting and used to do them myself. As I got older the tax codes have changed and I never kept up with them and I have a more complicated tax return so I have a professional do them.

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electromagnetic | 1.7K opinions shared on Other topic.
Guru

1 mo

I’ve been doing my own taxes for a few years. Recently, I hired a professional to take care of my Canadian taxes since I’m living and working abroad in a common wealth country.

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AmeerX | 761 opinions shared on Other topic.
Guru

1 mo

Filing taxes isn't that hard. Professionals hiring will increase cost of return filing making it extremely unfavorable

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- Flower7
  
  1 mo
  Yes, most places charge $300-$400 to file taxes.
- AmeerX
  
  1 mo
  That is a very high rate for someobe in my country. Indeed here they charge 100-250 usd but it is very high compared to average salary.
  Instead of these progressive taxes people would be better off if they just go for flat tax rates.
  
  Here is what happens in a progressive tax. 10% for income below 1000$ and from 1000$ to 2000$ it is for instance 20%.
  First, 1000$ is 100$ and next thousand dollar is 500$ is again 100$.
  Making 1000$ is easier but the next thousand dollar is very difficult. So why would anyone try to earn more.
  And those who are ultra rich don't get affected as there is a clear barrier.
  
  So a flat tax is better, first of all we don't need to hire many accountant and tax experts and the savings outweigh the taxes
GoodGuyBreakingBad | 10.5K opinions shared on Other topic.
Master

1 mo

Using a professional who doesn't charge an arm & leg to do them

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- Flower7
  
  1 mo
  Lol, I've never been able to find any tax company that charges less than an arm and a leg.
- GoodGuyBreakingBad
  
  1 mo
  @Flower7 Yeah I know what you mean, My sister used to take hers to H&R Block
- Flower7
  
  1 mo
  That's who I've been using for the past 3 years. I used to use Jackson Hewitt, but they were expensive too.
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- GoodGuyBreakingBad
  
  1 mo
  @Flower7 Yeah I see maybe you can get it cheaper?
matchrestore | 672 opinions shared on Other topic.
Guru

1 mo

I do my own taxes most years. There's been a few odd situations that I've hired a tax preparer for but it's rare.

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blondfrog | 8.1K opinions shared on Other topic.
Master

1 mo

Do your own but online. I suggest turbo tax or creditkarma. com.

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- Flower7
  
  1 mo
  I've heard a lot of good things about turbo tax. I've been feeling tempted to try it.
- blondfrog
  
  1 mo
  Yep its for free. It's literally like put this on line 2 and this on line 17. Then it calculates it for you and bam your done and hit submit.
- Flower7
  
  1 mo
  That does sound really easy!
Likes2drive | 8.9K opinions shared on Other topic.
Master

1 mo

Unless it’s a short form and you don’t have any deductibles at all then I would use a professional

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- Flower7
  
  1 mo
  Since I don't even know what a deductible is, I'm leaning toward using a professional!
- Likes2drive
  
  1 mo
  Yeah you probably should, lol, ask a lot of questions when you go to one and maybe you can use turbo tax next time
- Flower7
  
  1 mo
  That's a good idea.
Tim-loves-it | 1.4K opinions shared on Other topic.
Guru

1 mo

If your taxes are simple.. do em yourself.. if you own a house, have school loans or more stuff.. have someone do em for ya

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- Flower7
  
  1 mo
  That's a good way to look at it.
douride2 | 13.8K opinions shared on Other topic.
Master

1 mo

I find it is just easier to pay an accountant the $50 it costs to get it done.

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- Flower7
  
  1 mo
  Is that a certain company you use that has that price? Most of the chains in my area charge $300-$400 to do taxes. (Jackson Hewitt and H &R Block)
- douride2
  
  1 mo
  This is just a small local I use. Last year it cost me in the $50 to $60 range. I would have to check for an exact $ figure. At $300-$400 I would do it myself. As for H&R I wouldn't trust them to do my taxes.
- Flower7
  
  1 mo
  Sounds like I need to look for a local mom & pop place to do mine from now on!
Meldrum
Xper 7

1 mo

It depends on the income. I have mine done by someone but if your income is below a certain level, doing a strait 1040 form is the least expensive way to go

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Tstrbrainer | 298 opinions shared on Other topic.
Yoda

1 mo

I think it depends on your level of income and diversity of investments and expenditures.

Better get a good software if your finances are not that complex.

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Anastasia97
Xper 2

1 mo

A professional my brother does mine he’s an accountant.

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- Flower7
  
  1 mo
  Lucky for you!
- Anastasia97
  
  1 mo
  Thank You
jasco | 652 opinions shared on Other topic.
Yoda

1 mo

Honestly i would do it if you know what ur doing and its safer

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Waldoe | 289 opinions shared on Other topic.
Yoda

1 mo

depends how complicated they are

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bklynbadboy1 | 1.7K opinions shared on Other topic.
Guru

1 mo

Going to a professional

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pizzalovershouse | 2.4K opinions shared on Other topic.
Guru

1 mo

Your self if you use turbo tax

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mr2inches
Xper 4

1 mo

Depends on the complexity of your taxes

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krin_m | 140 opinions shared on Other topic.
Xper 7

1 mo

I have alwasy used a CPA.

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Gwenhwyfar | 656 opinions shared on Other topic.
Guru

1 mo

Professional!

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