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February 23, 2026Should I pay someone to do my taxes, or handle them independently?
This is what most people are thinking every tax season. The choice can have a huge impact on both your wallet and your schedule, so it’s worth thinking through carefully.
Knowing the pros and cons of hiring a tax professional can make the decision easier. Therefore, in this article, we’ll look at the benefits of professional tax preparation and highlight the potential drawbacks. We’ll also explore when bringing in a Financial expert like KARME makes the most sense.
What are the Pros of Hiring a Professional Tax Service?
Hiring a tax professional can help you save more of your money compared to the cost of the service. Let’s look at the benefits of hiring someone to prepare your taxes and why it’s worth the investment.
1. Find More Deductions and Credits
Working with a tax professional can help you find deductions and credits you might miss on your own. Tax experts know how to identify savings opportunities. These can be related to your home or office expenses, costs of a work vehicle, and business travel expenses. With these deductions, a professional can help you lower the amount of taxes you owe.
For instance, the IRS reported that the average tax refund in 2025 was $3,167. Many professional preparers are able to find enough deductions and credits to save their clients more money than the cost of hiring them. This makes professional tax help a smart and cost-effective decision.
2. Save a Lot of Time and Reduce Stress
The process of filing your taxes on your own can take a lot of time. According to the National Taxpayers Union Foundation (NTUF), an average Form 1040 taxpayer spends about 13 hours preparing a return. Hiring a tax professional can remove this workload from your shoulders.
They will handle all the paperwork, forms, and filing for you. For business owners, this matters even more. It helps them spend the saved time on productive activities to grow their business. Meanwhile, the tax professional takes care of the complicated tax details.
3. Access to Expert Knowledge on Tax Rules
IRS tax rules may change over time. These changes can also include significant updates from the Tax Cuts and Jobs Act, as well as smaller yearly adjustments, such as for inflation. These changes can affect how much you can deduct or get as a credit.
Professional tax preparers keep up with these changes thanks to their continuous required education. In most states, CPAs must complete 40 hours of education each year to maintain their license and stay updated on the latest regulations. Their knowledge helps make sure your taxes follow all federal and state laws, which decreases the chances of mistakes that could cost you money.
4. Avoid Costly Mistakes and IRS Penalties
Filing taxes late and incomplete information on tax returns make up most of all tax problems. And these mistakes can result in penalties that can cost you more money. According to the IRS:
- Filing late costs exactly 5% of the unpaid tax each month
- Paying late costs 0.5% of the unpaid taxes per month
- Incorrect reporting of income or deductions can cost up to 20% of the underpaid amount.
Professional tax preparers help prevent these issues by carefully preparing and reviewing your return. A lot of trusted tax firms also carry Errors and Omissions insurance. This can provide extra financial protection if a mistake occurs.
5. Professional Representation During IRS Audits
When choosing between a regular tax preparer and a CPA, it’s important to know who can represent you if the IRS audits your return. Only CPAs, Enrolled Agents, and tax attorneys can speak or negotiate with the IRS on your behalf.
While less than 1% of individual returns are audited, having a professional handle the process can greatly reduce stress. Your tax expert manages all IRS communications, answers questions, gathers documents, and advocates for you, so you don’t have to face the audit alone.
6: Year-Round Tax Help and Smart Advice
Professional tax services focus on planning ahead, not just preparing your taxes at the end of the year. They help you manage your quarterly estimated tax payments, so you can avoid penalties for underpaying.
They also provide advice on the best business structure for your goals, such as whether forming an LLC or an S-Corporation is the right choice. For self-employed individuals, tax professionals recommend strategies like contributing to a Solo 401(k) or a SEP IRA, which can lower your current taxes while helping you save for the future.
7: Better Tools for Accurate Tax Filing
Tax professionals use powerful software that’s much more advanced than what most people use at home. These tools let them file taxes electronically for faster refunds and automatically check for mistakes or missing information. They even flag anything that might trigger an audit, helping ensure your tax return is correct, complete, and low-risk.
8. Finding Missed Savings from Past Returns
A tax professional can look over your past tax returns to check if you missed any deductions or credits. If something was overlooked, you may be able to file an updated return and get extra money back.
With professional help, you can take advantage of benefits like education or income-based credits and business write-offs. While these benefits are appealing, it’s also important to look at both the pros and cons of hiring a tax professional.
What are the Cons of Hiring a Tax Professional?
Hiring a tax professional can be very helpful, but it’s important to know the potential downsides before you decide.
1. Tax Services Cost Money
According to the National Society of Accountants’ 2023 data, the average cost to prepare a basic Form 1040 with a state return is about $392.
Moreover, prices may go higher or lower depending on the complexity of your taxes and local rates. It may seem expensive, but hiring a professional is often an investment. They can help you claim all eligible deductions, reduce the chance of mistakes, and avoid penalties. These benefits can make the cost worth it.
2. Not All Tax Preparers Have the Same Qualifications
Not all tax preparers have the same qualifications. For example, a Certified Public Accountant (CPA) must complete a college degree, 150 credit hours of coursework, pass a difficult exam, and maintain a state license.
In contrast, some tax preparers only have a Preparer Tax Identification Number (PTIN), which requires minimal training. Because of this wide range of experience, it’s important to check a preparer’s credentials carefully. Choosing a licensed or certified professional increases the chances of accurate and reliable tax work.
3. Risk of Unqualified or “Ghost” Tax Preparers
“Ghost preparers” are people who prepare tax returns but refuse to sign them or provide their PTIN, which is legally required. So, make sure to watch for red flags like promises of unusually large refunds, charging fees based on refund size, or avoiding paperwork.
You can avoid these risks by hiring a well-known or certified tax professional with a good reputation. Also, make sure to verify credentials and read reviews to protect yourself from scams.
The Pros and Cons of Hiring a Tax Professional – Final Verdict
Summing up the pros and cons of hiring a tax professional, what matters most is working with a skilled and reliable team that truly looks out for your financial well-being.
Looking to hire a tax professional in McKinney, Tx? At MyKarme, our team brings an average of 12 years of experience with full support across tax preparation, tax planning, and tax problem resolution. Contact us today to increase your tax savings and feel more confident about your finances.