| U.S. tax law is notoriously complicated both to laymen | | | | standards and follow a strict code of ethics to get |
| and those who work in finance but may not specialize | | | | licensed by the American Institute of Certified Public |
| in tax preparation. Because of this, it's often worth it to | | | | Accountants. CPAs have extensive knowledge and |
| enlist the help of a tax specialist who has an extensive | | | | years of experience with tax law, including state tax |
| breadth of knowledge regarding the tax code and | | | | law (for example, a Seattle- or Bellevue-based CPA is |
| experience handling different taxation situations. | | | | required to pass examinations pertinent to Washington |
| There are few basic options which tax filers in the U.S. | | | | state tax codes). |
| choose when preparing their yearly tax returns: filing | | | | On the other hand, someone who represents a |
| taxes on their own electronically with the help of tax | | | | business like H&R Block has only been trained for a |
| preparation software, hiring a licensed professional | | | | few weeks on how to process different kinds of tax |
| such as a certified public accountant (CPA), or walking | | | | information. They offer their employees short, intense |
| into a storefront tax preparation business. All three | | | | training courses to orient them on the process for filing |
| prepare taxes for a fee in return for expert | | | | taxes for general purposes. While most of these tax |
| consultation. And, of course, the higher the expertise | | | | preparation firms tend to hire people with financial |
| needed, the higher the fees. | | | | backgrounds, you'll very rarely find someone here who |
| In this case, purchasing tax preparation software is | | | | is as experienced and knowledgeable as a CPA. |
| often the most affordable route. But in the end, it's | | | | Bottom-line: with a CPA, you pay more but you'll get |
| comparable to filing your own taxes. Because of this, | | | | more. But if you have a complex tax situation, a CPA |
| many filers feel more confident having their taxes | | | | may be able to pay for him or herself by finding you |
| prepared by a real live person (other than themselves). | | | | savings that an H&R Block employee might be |
| To this end, many filers wonder whether it is better to | | | | unaware of. But on the flip side, if you have a very |
| get a CPA or hire a service like H&R Block. The | | | | straightforward tax return, a CPA may be overkill. |
| answer is (as is typical with financial matters): "It | | | | Your best bet is to describe your situation over the |
| depends." | | | | phone to both a CPA and a storefront tax preparation |
| A CPA is someone who has had a rigorous education | | | | business and get a rough estimate before you decide. |
| and has been trained to meet high professional | | | | |