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Friday
Feb172012

Tax Tip: When Should You Seek a Tax Professional?

iStockphoto/Thinkstock(NEW YORK) -- Doing your own taxes without the help of an accountant is not always the best way to save money.

"There are many circumstances that would create a need to have a tax professional look over a return that you've prepared," says tax accountant Janice Hayman.

A good time to seek help may be when you have a new job, or experience other changes in your life, she says.

"I think you want to consult with a tax professional when you get married, when you are divorcing, when you are perhaps having children," Hayman explains.

Taxpayers can lower their tax preparation fees by being better organized, says personal finance expert Farnoosh Torabi at Yahoo Finance.

"The less work the tax preparer has to do with your own paperwork, the better," she says.

And if your tax situation is simple without many deductions, Torabi says, "You can very easily do your own taxes it's very straightforward."

Copyright 2012 ABC News Radio







ABC News Radio