It's Tax Time Again

It's tax time again and you're probably wondering when is it necessary for you to hire a Naperville accountant to help you stay out of trouble with the IRS. The last thing you want is to get one of those letters informing you that you need to appear for an audit. So should you hire an accountant to help you this year and is it OK to save the money and do your taxes yourself?

Filling out those tax forms can get pretty complicated but if all you need to do is transfer over the information from your W-2 form and copy the information from your bank interest statement, your mortgage interest and any stock dividend statements, they you're usually safe doing your own taxes. However, it is best to use some type of tax preparation software or online site to make sure you don't miss any deductions that will allow you to keep more of your own money.

Once your financial life gets a little more complicated, though, it more that worth it to contact an accountant to help you with your taxes both for the sake of saving you money and also to help you avoid any penalties.

You should contact a Naperville accountant if you:

• Are self employed

• Own your own business

• Frequently trade stocks and mutual funds

• Own rental property

• Have a lot of unreimbursed employee expenses

• Have experienced a significant change in the past year like, divorce, received an inheritance, sold property, converted an IRA.