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Self Help Tax Returns – Easy and Cheap – But Maybe Not Smart

February 3, 2010

Technology has afforded so many things to us in our modern world that is convenient and efficient. This has translated into cost savings to us as individuals and as businesses.  Like any tool, it is how we use it that can determine either its maximum benefit or the opposite – its detriment to us.

The self help tax return software that many individuals and businesses use to process their own tax returns sounds really good in concept but without expert advice can leave you without the information you need maximize benefits you qualify for under current regulations.  In some cases, there may be errors that will require correction down the road.

There have been times in the past where someone has walked into my office to use our tax services to correct mistakes made on their tax returns that they processed on these self help programs.   They were not happy. What they thought saved them on time and money only added more to both.

My advice is to use a tax expert.  Sure it may cost a little more.  However, most tax experts use similar tax software technologies but they also provide expertise that the software cannot provide beyond the one dimensional FAQ’s.  You will get someone who can help you plan your whole tax strategy especially if you work with someone who also does your accounting and bookkeeping (if you are a business).

Remember Easy and Cheap does not always equal Smart– especially with Taxes!

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