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Tax season is almost here.

For some, it's a straightforward task — fill in the forms, file, and move on. For others, it feels like stepping into a maze where every turn leads to more questions.

"Am I missing a deduction?"

"What if I get something wrong and owe penalties?"

"Is this the year I finally hire someone to handle this?"

These are important questions, and the right answer depends on your unique financial situation.

The more moving pieces you have, the more likely it is that hiring a tax professional could save you time, stress, and — probably most importantly — money.

Of course, hiring a professional isn't free. On average, a simple Form 1040 with the standard deduction and a state return costs about $220, while itemizing deductions with a Schedule A brings the fee to around $323. More complex returns — like filings involving rental properties, investments, or self-employment — can push the cost higher and typically average closer to $800 or more.

Doing it yourself, on the other hand, is often free for simple returns and about $100 for more complicated filings (depending on the filing software you use).

And while doing it yourself might seem more affordable at first glance, a good tax preparer could uncover opportunities or prevent errors that save you far more than their fee.

So how do you know when it's time to hire a professional... and when you can handle it yourself?

Below, I've outlined some common tax scenarios where hiring a professional could be the smarter choice. You'll also find key questions to help you evaluate your own situation. Together, these will make the decision clearer and easier.

Ready to dive in? Let's explore five common tax situations where professional help can make all the difference.

1) Are You Self-Employed or a Business Owner?

Running your own business is no small feat — and filing taxes for it isn't either.

Do you know exactly what counts as a deductible expense? How to handle home office deductions? Or when a shiny new business vehicle is tax-deductible?

If you're a sole proprietor, freelancer, gig worker, or even running an S-Corp, these are just the starting points. And let's not forget about depreciation. (Do you really want to calculate the lifespan of that office printer?)

The stakes are high for business owners, especially since the IRS tends to keep a closer eye on entrepreneurial returns. A missed income report or an overly ambitious deduction can set off red flags, putting you at greater risk for an audit.

The good news? A solid tax professional not only minimizes those risks but often finds deductions or credits you didn't even know existed — often enough to more than cover their fee.

Here are a few questions to help you decide if hiring a professional is the right move...

-       Do I feel confident about which business expenses I can deduct, and do I have the records to back them up?

-       Am I familiar with terms like depreciation, start-up costs, and estimated quarterly taxes?

-       Have I explored all the deductions or credits that might apply to my business, like retirement contributions or health insurance premiums?

If you're unsure about even one of these, a tax professional could be worth the investment. They don't just help you file; they help you maximize what you can legally deduct while avoiding potential errors that could lead to penalties or audits.

2) Do You Own Rental or Investment Properties?

Being a landlord comes with plenty of responsibilities — collecting rent, maintaining properties, fielding calls about clogged sinks. But when tax time rolls around, it gets even trickier.

Here's a curveball: If your tenant repairs the property for you or installs a new fence, that counts as rental income. And that shiny new oven you installed? It's not a regular deductible expense; it's an "improvement" that must be depreciated over time.

Now, if you've sold a rental property, the complexities go up another notch. Depreciation recapture tax, cost basis adjustments, capital gains — it's a lot to untangle. A tax professional can help you avoid costly mistakes, like missing out on adjustments that reduce your tax burden when you sell. That's not just peace of mind; it's smart financial strategy.

Here are a few questions to help you decide if hiring a professional is the right move...

-       Do I understand which property expenses are immediately deductible versus those that must be depreciated over time?

-       Can I accurately calculate my property's cost basis, including improvements and upgrades, in case of a sale?

-       Am I aware of how rental income — like tenant repairs or bartered services — should be reported?

If any of these questions give you pause, a tax professional can help ensure you're not overpaying or missing key deductions.

3) Do You Have Employer Stock or Taxable Investments?

If you've ever looked at your employer's stock plan or a taxable brokerage account and thought, "This is more confusing than I expected," you're not alone.

Taxable investments come with their own set of rules. Did you know that holding periods and reinvested dividends can affect your capital gains tax rate? Or that selling and rebuying the same security too quickly can trigger a wash sale, disqualifying your tax loss?

And then there are employer stock options, ESPPs, or RSUs. These perks can be valuable, but they come with complex tax implications that leave many employees overpaying — or worse, underreporting.

The takeaway? If you're dealing with anything beyond basic retirement accounts, a tax professional can help you strategize to minimize taxes and maximize your benefits.

Here are a few questions to help you decide if hiring a professional is the right move...

-       Do I know how the length of time I hold an investment impacts the tax rate I pay on it?

-       Am I clear on how to report stock options, RSUs, or dividends I've reinvested?

-       Do I understand the difference between taxable investment income and income from tax-advantaged accounts?

Investment taxes can be complicated, and even small mistakes could cost you more than the fee for professional help.

4) Are You a New Retiree?

Imagine settling into your new routine as a retiree, excited about this new chapter of life, only to find yourself buried in tax forms and regulations you didn't even know existed. Even worse, it turns out that many of the simplest mistakes come with costly results and penalties that can eat into your hard-earned savings.

[Read Don't Let These 7 Common Tax Errors Ruin Your Retirement]

Transitioning into retirement is a major financial shift, and the rules aren't always straightforward. A professional can help you navigate these changes, ensuring you minimize your tax liability while making the most of your retirement income.

Here are a few questions to help you decide if hiring a professional is the right move...

-       Do I understand how withdrawals from retirement accounts affect my taxable income?

-       Am I aware of how Social Security income is taxed based on my other earnings?

-       Have I accounted for required minimum distributions (RMDs) and their tax implications?

If these questions sound daunting, a tax professional can help you navigate the complexities of your new financial situation and keep more of your retirement income intact.

5) Is Your Time Worth More Than the Cost of Paying an Accountant?

Even if your tax situation isn't particularly complex, there's another factor to consider... the value of your time.

The IRS estimates that the average person spends about 13 hours preparing their tax return. For business owners, it's closer to 24 hours. Even for someone with a relatively simple return? Nine hours of your life.

Let's do a little math.

Think about your time. If you earn $50 an hour, those nine hours could cost you $450 in lost time — or closer to $1,300 if you're a business owner. Suddenly, the $300 to $600 you'd pay a professional doesn't sound so bad, does it?

But here's the kicker.

How confident are you that those nine hours will result in a perfect return?

-       Did you catch every deduction?

-       Avoid every mistake?

-       Fill out every form correctly?

And if something does go wrong — a missed form, a calculation error — are you ready to face the consequences? Amended returns, IRS penalties, and audit requests don't just cost money. They cost more time.

For many people, the choice to hire a tax professional isn't only about complexity; it's about peace of mind. It's knowing that the hours you'd spend squinting at forms and Googling obscure tax terms are now hours you can spend on work, family, or anything else you value more.

Because at the end of the day, your time is one of your most valuable resources. The question is, how do you want to spend it?

How to Find a Great Tax Professional

You read the article, you asked the questions, you decided hiring a professional is a good fit for your financial picture. Great! But now comes the tricky part — finding the right person for you.

Let's break it down.

1) Start Early. Here's the first thing to know — don't wait until April to start looking. Roughly 85 million Americans used paid preparers in 2023. The best tax preparers book up fast. Start your search by late December or early January to ensure you get on someone's calendar.

2) Ask for Recommendations. Think of this as the word-of-mouth test. Who do your friends, family, or coworkers trust with their taxes? Got a financial advisor? Ask if they have a CPA they work well with. Don't forget to check reviews online — just be sure they're from trusted platforms. (And if no one can give you a recommendation, an online search is a good place to start.)

3) Know the Credentials.Not all tax professionals are created equal. Here's what to look for:

-       CPAs (Certified Public Accountants): These pros have passed rigorous exams and can handle everything from complex returns to financial planning.

-       EAs (Enrolled Agents): Tax specialists licensed by the IRS with expertise in handling audits and returns.

-       Tax Attorneys: Best for legal-heavy situations like audits or disputes with the IRS.

-       Always verify their credentials and memberships in reputable organizations like the National Association of Tax Professionals (NATP).

4) Interview Potential Preparers.Yes, you can (and should) interview them. Their answers will tell you a lot about their expertise — and whether they're the right fit for you. Ask questions like:

-       Have you worked with clients in my financial situation before?

-       What's your fee structure?

-       Do you offer audit assistance or guarantees?

5) Look for Clear Communication. Your tax preparer should explain things in plain English — not bury you in jargon. If they're patient, thorough, and quick to respond to questions, that's a good sign.

6) Watch for Red Flags. Trust your gut — if something feels off, it probably is. Steer clear of anyone who:

-       Promises huge refunds without knowing your situation.

-       Charges fees based on the size of your refund.

-       Lacks a verifiable office location or proper credentials.

Finding the right tax professional may feel like one more chore to cross off your list, but it's worth it to ensure your taxes are handled accurately and efficiently. A great preparer can save you time, money, and stress — making tax season much easier to navigate.

What's Your Tax Game Plan?

Whether you choose to go it alone or bring in a tax expert, the goal is the same — to file accurately, maximize your savings, and avoid unnecessary stress.

If your financial situation is simple and you feel confident navigating forms and deductions, DIY might be the way to go. But if you're dealing with complexities — like a business, rental properties, investments, or a major life change like retirement — hiring a tax professional could be the smartest decision you make this tax season.

In fact, the more complex your financial life, the more value a professional brings. They're not just filing your taxes; they're uncovering opportunities to maximize your savings, fixing potential issues, and saving you headaches down the road.

Think of it this way: Hiring a good tax preparer isn't just an expense — it's an investment. One that could save you money, time, and sleepless nights.

So, what's your tax game plan this year? Is it time to roll up your sleeves or call in the experts? Whatever you decide, remember: The key is to find a solution that works best for your situation — and gives you peace of mind.