When it’s time to pay Uncle Sam, you have a choice. Do you do your taxes yourself, or turn the driving over to a pro?
To decide, ask yourself these 4 questions
Do you know your filing status? Hint: Do any of these sound familiar--single, married filing jointly, married filing separately, head of household, qualifying widow with dependent child?
Do you know what deductions and tax breaks you’re qualified to take?
Are you generally organized about your finances so you can find records you need?
Are you comfortable doing research if you have a tax question?
If you said yes, you’ll probably be fine doing your own taxes. These days, tax software programs can help streamline it.
Otherwise, it’s probably worth the money for you to hire a pro to prepare them for you.
If you're ready to hire a tax pro, see part II to select the right fit for you.
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