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I Can Do Bad All By Myself….

March 28, 2009

Doing your own taxes vs. H&R Block/other national chain vs. a Tax pro

Check out these three options for getting your taxes done:

1.  Do It Yourself  (Costs starting around $9.95)

If you file a 1040EZ, 1040A, or 1040 with basic itemized deductions, then consider self-preparing your taxes.  Top tax software programs include:  TurboTax®, TaxCut®, TaxAct® and Snaptax®.  Also, if you claim no deductions and make less than $100,000, you may be able to prepare your tax return for free. 

2. A Tax Chain (Costs starting around $150)

Tax chains like H&R Block® and Jackson Hewittt® are helpful when you need personal interaction.  These tax preparers are knowledgeable on many common tax issues and deductions.  In most cases, they can prepare your tax return on the spot or within a few days.

3.   A Tax Pro (Costs starting around $200)

If you have complicated tax issues like: significant stock sales or itemized deductions, real estate or investment property, alternative minimum tax, detailed tax questions, past tax problems or you are a small business owner or independent contractor, then consider a tax pro. This includes: Certified Public Accountants (CPAs), Attorneys or Enrolled Agents. 

Let me hear from you?  Are you a do-it-your-selfer, Chain store tax addict, or only the Pros?  Share your story now!

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