5 easy steps for doing your own taxes, plus advice on when to hire professionals.
When I started filing taxes decades ago, it was a tedious process of convoluted tax tables and writing the information on the correct tax forms by hand. There were separate instructions on exactly how to staple the W-2 income statements correctly to the exact page. Annual returns were manually entered into the IRS system, introducing another person to make a mistake. I remember double checking everything I had written before sealing the envelope, mailing my return, then waiting weeks and weeks for my refund check or correction letter. While attending University for my Finance degree, I took many accounting classes, and worked for several accountants over the years, including an independent tax firm. Admittedly, I have a complex tax return, and I pay a professional (after I have completed a preliminary return on my own) to file my taxes. Continue reading “5 Easy Steps for Income Taxes DIY or Hire a Professional”