Question 18
Many taxpayers wonder when to contact a tax professional. Simple returns with wages, standard deductions, and few credits are often manageable with free filing tools. But if you experience complex life events — owning a business, significant investment sales, inheritance, or complicated state issues — a professional can reduce errors and identify opportunities you may miss. Seeking help is also prudent when notices arrive from the tax authority or when you face possible penalties. This question asks for a safe guideline on when professional help is advisable.
When is it generally a good idea to consult a tax professional?
Did You Also Know...
By Wise Wallet
Tax-loss harvesting can offset realized gains but is limited by wash-sale rules that restrict repurchasing identical securities too soon.