What is the TRUE COST of doing your own taxes?
Each year, I am asked, “why should I hire a CPA to do my taxes?”. That is a very good question and I’m very honest with my answer:
If you have a simple tax return, are good with computers, it takes you very little time, it doesn’t stress you out and you feel you have done it correctly, then you should do them yourself. Typically this is the single person with one W-2 and maybe a 1099-INT from the bank.
It is when you go beyond the simplest of the simple tax returns that our expertise pays for itself. We live in a very specialized society. We need to concentrate on the things we do and do them well. For me, that’s being a good father, husband and CPA. I’m not my own mechanic–you know, I guess I could change the brakes in my car; however, I don’t have the right tools, experience, it will take me a LONG time, it will stress me out and when I’m done–I’m going to have very little confidence that I did it correctly.
A study was recently conducted by the Dave Ramsey program and it shows that while the cost of a Do-It-Yourself tax return box from your local retailer might cost you between $30-100, the true cost is over $1,100 when you figure in the time and missed deductions, etc. Please review the study for yourself which can be found at https://www.daveramsey.com/elp/the-true-cost-of-tax-software.
If you are on the fence about whether or not to use a CPA for your taxes, I suggest you try it out for a season. If we can deliver a high quality work product at reasonable cost with zero stress, we’ll have earned your repeat business.
Give us a call at 260-407-5000 and lets get the ball rolling on knocking out your 2016 taxes.