It’s tax time. Time for my annual plea to those of you who have some “tax preparation expert” prepare your income tax return for you because you believe it is too complicated for you to do. Trust me. It is not too complicated.

   What should you do rather than go to the tax expert?  Glad you asked.  Do your taxes yourself.  It isn’t that difficult for most of us.  If your taxes are really too complicated for you to do yourself, you probably already have an accountant who maintains your books, pays your employees, pays withholding to Uncle Sam, and prepares your taxes.  If that isn’t you, you can certainly do your own taxes.

   How can you do that?  Again, glad you asked.  First, that “tax preparation expert” is not necessarily an expert on taxes, but is familiar enough with the tax preparation software to prepare relatively simple tax returns.  You can do the same.  The office supply stores sell at least two tax preparation software programs, specifically Turbo Tax or H&R Block.  I have used both and am very satisfied with both. I use the cheaper one which sells for about $30, depending on whether or not you get it on sale. There are other tax preparation programs, but the two I have listed have been used by me, and I feel comfortable suggesting either.

   Consider that the tax preparers rely completely on what you bring to them. You have already done most of the work.  All that is left is to load the software into your computer and follow the instructions.  You don’t have to do it all at once, but can do it incrementally.  But, if you are with a tax preparer you probably have a very limited time and, may miss an important credit or deduction.

   Besides saving money, you will learn more about the tax laws, allowing you to plan on how to reduce your taxes next year.

   Now, to my real complaint – the loan of your money to you from the tax preparer, at a cost to you in addition to the charge for preparing your taxes. Your refund is your money.  You have lent it very generously to Uncle Sam over the past year without receiving any interest.  If you prepare your own taxes, and file online, you could receive your refund in about a week.

   Possibly, your taxes are a little more complicated than can be prepared using the basic software.  No problem.  These same companies provide tax preparation software if you have your own business, have rental property or significant investment income (or loss).  Also included is the program necessary for your state income taxes.

   In closing, let me add that with the tax law changes, many of us have lost the advantage of itemizing deductions now that the standard deduction has doubled, further simplifying tax preparation.  So, get out your W-2s and 1099s and get that refund.