U.S. markets open in 3 hours 52 minutes
  • S&P Futures

    4,080.75
    -1.00 (-0.02%)
     
  • Dow Futures

    34,409.00
    -20.00 (-0.06%)
     
  • Nasdaq Futures

    12,050.75
    -12.00 (-0.10%)
     
  • Russell 2000 Futures

    1,882.60
    -1.10 (-0.06%)
     
  • Crude Oil

    81.21
    -0.01 (-0.01%)
     
  • Gold

    1,814.70
    -0.50 (-0.03%)
     
  • Silver

    22.89
    +0.04 (+0.19%)
     
  • EUR/USD

    1.0530
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    3.5290
    0.0000 (0.00%)
     
  • Vix

    20.18
    -0.40 (-1.94%)
     
  • GBP/USD

    1.2267
    +0.0011 (+0.09%)
     
  • USD/JPY

    134.0120
    -1.2940 (-0.96%)
     
  • BTC-USD

    16,959.19
    -147.74 (-0.86%)
     
  • CMC Crypto 200

    402.16
    -3.99 (-0.98%)
     
  • FTSE 100

    7,538.18
    -20.31 (-0.27%)
     
  • Nikkei 225

    27,777.90
    -448.18 (-1.59%)
     

First Person: Tax Preparations Services Are Worth the Money

There is still plenty of time to get your taxes done before the filing deadline, but people are starting to think about assembling paperwork, buying software packages, consulting online sites and calling accountants. For many people hiring an accountant may be a daunting task or a financial difficulty, which is why there are a number of free tax services . This is particularly true with the expansion of online tools. For me, paying for tax preparation services is worth the money, even in an age where many people are doing things themselves. I could still do my own taxes, but I certainly appreciate the experience of my friendly neighborhood accountant.

Consulting a professional

For many years, I did my own taxes and filed all the necessary paperwork. I could still do it today, but as life got a bit more complex it seemed prudent to consult a professional. Given the challenges of maximizing deductions, understanding business expenses and managing investment transactions, an accountant has been an invaluable resource. Someone like me can get through the paperwork and understand the rules, but it takes a professional to answer questions, think through various scenarios and plan for the future.

A simpler life

There are times when I miss the simpler life of fewer tax forms and easier filings. Finances used to be a lot simpler. Again, this is part of the complexity of life and certain phases require additional work. Owning a home, deducting expenses and dealing with business issues can represent many different financial pitfalls. I am comfortable making mistakes in many areas of my life, but taxes are not one of them. When it comes to filing taxes, the IRS kind of has an expectation that they are going to be done right.

Time is money

For my situation, there certainly is some truth to the idea that time is money. Thankfully I have the opportunity to earn additional income in my negotiable time, which means that sometimes it really does make sense to hire professionals to complete certain tasks. Taxes can be done but they still take a lot of time, even with the Internet and software solutions that are available. Why spend the time on something when there are much more skilled individuals who can do it while I complete other tasks?

Accountants aren't infallible, but they certainly are handy during tax season. For me, tax preparation services purchase financial management and some additional peace of mind.

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.

More from this contributor:

The Effects of Technology in Today's Business World

The Importance of Financial Management Ethics

Qualities of a Good Manager