Financial Fitness with Alan Akina - Choosing a Tax Preparer

Tax time is quickly approaching.

This week's financial fitness segment, our expert Alan Akina has some tips for us.

Good morning, everyone. The beginning of March is the halfway point of the dreaded tax season. So if you haven't done your taxes yet, we'll discuss some of your options today. But first, I want you to understand that we as taxpayers are legally responsible for what goes on our tax returns, Even if we hired someone else to do it. So here's some of your options. The free option, we either attempt to do it ourselves, use TurboTax, or our Uncle Bob. Be careful with this one if you're not very organized or methodical. Another option is you can go to a storefront preparer like an H&R Block or Jackson Hewitt or the many local shops around the states. You can also pay a certified public accountant, they call them CPAs, or a certified financial planner, CFPs. You can even use a lawyer or an IRS enrolled agent, which is someone who has earned the privilege of representing you by passing a written exam or by IRS work experience. Now, whatever option you choose, always ask for references and credentials and understand their fee structure before moving forward. Now, I suggest that you interview 3 different preparers as a starting point. Now remember, federal tax returns are due on April 15th and state tax returns on April 20th. For Wake Up Today, I'm Alan Akina. See you next week.