DIY Tax Filing vs. Hiring a Professional

Who should do their own taxes?

If you're a wage earner with run-of-the-mill deductions like mortgage interest, property taxes and childcare or educational expenses, there's no reason you can't do your taxes yourself. You can do your taxes completely on your own for free at IRS.gov or use a tax preparation software that costs anywhere from $20 to $50. There are dozens of programs and online tax-prep services to pick from, but your best bet is to stick with one of the three best-sellers: TurboTax, TaxCut and TaxACT. Regardless of which brand you choose, don't pay full price. Surf the Web and check ads in the Sunday paper for the best deals.

Consider doing your own taxes if:

• You get a W-2 from your employer
• You are not taking itemized deductions
• You have only a few bank accounts
• You don't own real estate
• You don't trade frequently