The IRS estimates you’ll spend 16 hours to complete the most common tax return. So, the clear winner is tax software, right? Well, not so fast. With tax software, you can finish your taxes in a few hours. Plus, if you earn a refund, you’ll have a great place to save it.Ĭheapest option: DIY Is one faster than the other? Bonus: If you end up saving money with software, open a savings account to use toward a vacation, new phone or start a rainy-day fund. 2 Even though software is getting more expensive, it’s still cheaper than a CPA’s annual fee. 1 The average cost for a tax professional to prepare your return? Around $273. The average tax software will cost anywhere between $0 and $179, depending on how complex or specialized you need the software to be. Some of the more popular brands of software include TurboTax, H&R Block at Home and TaxAct. Let’s revisit the debate so you can make the most informed decision when it comes to your taxes: DIY vs. It’s adding new features and getting more specialized. And people huddle around the watercooler having fiery debates: should I do my own taxes or do I need an accountant? These days, the differences between the two aren’t so obvious. A few months before tax time, the internet chatter begins.
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