Episode 52.5: Bonus! Should I Do My Own Taxes or Hire Someone This Year?

In this bonus episode, I briefly talk about a very common question that I get: Should I Do My Own Taxes or Hire Someone This Year? I have discussed this in previous episodes but because we’re in tax season I decided to bring it up again.

The answer from me is: personal preference.

If your business is more complex, I would suggest hiring someone to handle your tax. The more complex the business is the more nuanced and complex the tax can become which is why I suggest a professional should handle it.

On the other hand, if your business is smaller and simpler, then there is no reason why you can’t handle it yourself using software like QuickBooks, which is great for tax and general bookkeeping for your business.

Regardless of what you decide it is important to weigh up the options available to you and decide from there. For example, if you would pay a similar amount for your software as you would for a professional, it might be a good idea to hire a professional. However, if you also were making use of all the other features of the software, then software would be the way to go.

QuickBooks

I know that it can be stressful during tax season especially when your books from 2020 are in disarray due to the pandemic. The single most valuable piece of advice I can give is to get your books in order! QuickBooks is a great piece of affordable software that I recommend for managing the bookkeeping of your business. Find out more about QuickBooks here.

Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books!

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