This post was sponsored, and paid for, by H&R Block. All opinions are my own.
If you’re one of many people who struggle to pay their bills each month, you’re probably focused on finding every way possible to cut your expenses and save money.
Preparing and filing your own tax return may be one way you’re trying to save this year, but it may not be the smartest move to DIY your taxes. If your finances are at all complicated, it can make self tax preparation a virtual nightmare. In fact, using a tax professional might actually help you save money in the long run!
Here’s how using a tax professional can actually benefit you financially.
1. Saves Money
Having a professional complete your tax return could cost you anywhere from a couple of hundred dollars to nearly a thousand. The price is determined by how complicated your finances are, as well as how well-prepared you are when you hand things over to them.
For instance, if your accountant spends extra time digging through messy paperwork to finish your taxes they will probably charge you more. In addition, if they must file several different forms or itemize your return, they may charge more as well.
At the same time, having complicated finances is one reason to have a tax professional complete your taxes. Unless you are well versed on tax law and procedures, a tax preparer will probably save you money in the long run.
The good news is that there is a way to enjoy the benefits a professionally prepared tax return without having to pay a huge sum of money for it.
You can still DIY most of the process to save money and then have a professional review your return. Visit H &R Block to start your return today. H&R Block offers several different levels of tax filing products to fit your needs and budget.
One of the other great reasons to use H&R Block’s products is that they guarantee you will get your maximum refund no matter which online product you choose. This guarantee is another way to save money.
2. Saves Time
Trying to learn what you can and can’t deduct, as well as filling out tax forms properly and searching through paperwork takes a lot of time. To make the process faster, you could have a professional look over your review. Their knowledge and expertise of tax preparation enables them to complete the job much faster than you may be able to.
Of course, no one likes dragging out all of their financial documents to lug them to an accountant’s office. It takes time and it isn’t at all convenient.
*Related: Waiting on your tax refund? Read our guide on how to use the IRS tax refund tracker to learn how long it takes to receive your funds.*
However, you can avoid transporting big boxes of information or sending large documents by email if you prepare your own taxes and have a professional from H&R Block look them over with their Tax Pro Review service.
They can look everything over for you without you having to even enter a tax office. You can easily import documents and send W-2 information no matter which online product you are using. Additionally, if you need to talk to them for tax advice you can through the chat tool they provide.
If you find you are running out of time to file your return, you can get your review completed in as few as three days. While there may be an additional fee based on how involved your tax return is, you’ll still spend less time on it.
3. Prevents Errors
There is always a chance you will make errors when you complete your tax return without professional guidance. The problem is that errors could result in penalties and more money owed on your tax return.
When you use H&R Block’s Tax Pro Review, you can take advantage of a remote review by a tax professional. This allows you to send your information to them online and have a review completed that saves you from costly errors.
Trying to save money by filing your own taxes isn’t a bad idea. Nevertheless, to save money, time, and prevent errors, you can add a professional review for less than the cost of hiring a professional tax preparer.
How much do you spend to get your taxes done? What are some benefits you like to hiring a tax professional? What do you plan to use your tax refund on this year?
I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.
This is good advice, but be aware that not all tax professionals are created equal! My husband and I had an incredibly negative experience at our local H&R Block last year. Our “professional” was pretty rude right off the bat (he never said hello or introduced himself, he just sat and stared at us blankly for an awkward period of time until I finally broke the ice…), and we had to watch him like a hawk because he kept making minor typos like spelling our names and employer info wrong. I wish we had just left and gone to someone else.
Sorry to hear about your experience Jessica. I’d agree that you can find situations like that pretty much anywhere and is always frustrating.