Times When It Pays to Get Professional Help
Preparing your own tax return can save you some money, but there are some circumstances in which you should consult a professional.
Software and online services makes doing your own taxes easier than ever, but in some cases a little help is still a smart move. Here are a few instances where getting professional help could not only help you save on your taxes but also avoid potential problems:
- You receive rental income.
- You are self-employed.
- You report gains and losses on investments – especially if you made a variety of investments.
- You sold your home in a “short sale” transaction, meaning you sold the home for less than the amount of the mortgage you owed.
In these cases, saving a little on tax preparation fees may end up costing you a lot more.