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Monday
Mar132017

Tax Tip: When to admit you need help

iStock/ThinkstockIt's time to do your taxes. You pulled your records, and now you're sitting down with all those forms. Do you feel like you're in over your head?

"I think a lot of people out there think it's overwhelming," ABC News Chief Business and Economics Correspondent Rebecca Jarvis says. "And the truth is, it is overwhelming."

If you add on top of that a change in life status, it can get even more complicated.

"Maybe you've had a divorce in the past year. Maybe you're now a small business. Those are the kinds of changes that make things a little more complicated and change your tax status," she notes.

And they're reasons, Jarvis says, to reach out to a tax professional. The same is true if you're planning on taking a lot of deductions, or if you sold a big investment in the past year.

As for the cost?

"The additional money people spend working with help on the side -- whether it's the app or a tax preparer, an independent tax preparer -- tends to help," Jarvis says.

According to studies, they also tend to get you better refunds.

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