So let’s talk about how to file taxes. I know it’s boring, but we all have to do it. If it’s your first time filing, you’ll probably need some help. Should you go with a more affordable virtual option like TurboTax? Or should you trust a real-life person by hiring an accountant? I’m going to help you figure out what’s best for your finances.
Online tax help
Software, like TurboTax, is usually less expensive, partially because you do a lot of the work yourself. If you’re in college or have one income source, you could probably file your taxes for free on some platforms. And these platforms make it seem extremely fast and simple. They walk you through the complicated steps, which could give you the knowledge and confidence to try filing on your own next time.
Why hire an accountant?
If you have a more complicated tax process or just like talking to a human, you might want to hire an accountant. Accountants can answer your questions! CPAs take their time handling complicated items that you may miss if you’re speeding through a virtual program on your own.
So, what is the best option?
There is no right answer. TurboTax may fit your price range and the simplicity of your tax solution. But once you’re in the real world – Maybe you’re getting older and have a retirement account or multiple income streams – you might want to invest in an accountant. At the end of the day, you could be leaving money on the table and not exercising every possible tax break. And you know what? That means less money in your pocket.
What do you think? Let us know in the comments below.
For a list of GIFs that explains the process of doing taxes, check this out.