Tax Services Vs. At-Home Software

Unless you're a tax pro, you're probably considering getting some kind of help in filing your taxes quickly. Tax software and a tax service are two of the common options for easy tax preparation. Here are some of the benefits and drawbacks of each of these services. 

Pros and Cons of Tax Software

The main benefits of tax software are that it's quick and cost-effective. You simply enter your information into their user-friendly system and they fill out the relevant boxes for you on the tax return. This can be a great option if you have a single income and few deductions. However, without a professional eye on your tax return, it's hard to ensure that everything is filled out correctly and that you're following all of the relevant rules. 

Pros and Cons of Tax Services

Another option is to use tax services to advise your tax return. Your tax accountant will collect your W-2 forms and other relevant documents to prepare your returns for you. This is a great option if you want year-round advice on your taxes. 

Tax accountants can improve the level of accuracy on your tax return. They often use their own tax software to complete the returns quickly, but they are able to proofread and make adjustments to the returns based on your personal situation. Otherwise, you may need to spend a lot of time reading through the documentation and deciding that you're filing your taxes correctly. 

One potential con is that a tax accountant may take a little more time on your part; you'll need to locate the right tax service, bring in your tax documentation, and wait for your return. However, the improved accuracy is worth it for many people if the extra time can increase their tax returns. You can minimize the time crunch by using a tax accountant year round to keep track of your tax documents. 

Conclusion

The best option for you depends on how complicated your situation is. If you have many sources of income and many deductions, it may be best to go with a tax accountant, like those at RJ. Garner CPA & Associates, PLC, who can put a human face behind the many regulations that you'll have to navigate when creating a complicated tax return. If you have a very straightforward case, you might be able to get away with using tax software on your own. However, it may still be worth it to get the opinion of a professional; there may be some deductions that you're missing.