THE LIFE

February 14th, 2011

Want To Do Your Own Taxes?

tax2

Sitting home with your  W-2 Forms, calculator and black ball point pen you begin to wonder if you should continue on your own or visit your local Jackson Hewitt. Here are a few tips to ease your wondering mind.

Do your taxes if…

1. You will file a 1040EZ or 1040A tax form

2. You have the time and patience

3. You are strapped for cash

4. Single with no dependents

Hire tax preparer if…

1. You have major deductions

2. You are self-employed

3. Your return will be big enough to cover preparation fees

4. You are not familiar with federal or state tax codes

Simplicity and peace of mind are the keys to deciding whether or not to prepare your own taxes. Simple returns with one W-2 and no deductions should warrant you to file your own taxes. If you are afraid of being audited due to major deductions and multiple line items, visiting your local tax preparer will serve you best.  Lastly if you decided to do your own taxes it may be worth the $20 to have a professional check it for peace of mind.


About the Author

Corey Phillips
Born and raised in Queens, NY, Corey is a working finance professional in Indianapolis, IN. A graduate of the University of South Carolina, Corey obtained a dual degree in Finance and Management. In addition to his corporate career, Corey possesses a passion for helping others realize their potential and authority.




 
 

 
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8 Comments


  1. love the article… it’s important to remember though that tax laws are always changing and more so in recent years, that’s why it’s always best to find a tax professional that you have true confidence in. There’s no doubt that one can do his or her own EZ form, however you would still spend money on the tax software…


  2. I love to read this type of stuff. Good and attractive information I take from it..Thank you for posting such a nice article


  3. . There’s no doubt that one can do his or her own EZ form, however you would still spend money on the tax software…


  4. Sitting home with your W-2 Forms, calculator and black ball point pen you begin to wonder if you should continue on your own or visit your local Jackson Hewitt. Here are a few tips to ease your wondering mind.


  5. Great! Thanks for your documents, its been very helpful. Thanks again for sharing your information.


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