Is It Worth Hiring an Accountant to Do My Taxes?
Every tax season, we’re flooded with ads promising easy filing through DIY tax software and pop-up prep centers. For those with a simple W-2 and no other complications, those tools might work just fine.
But what if your tax situation is a bit more complex? Hiring an accountant or CPA might not only save you time — it could save you thousands of dollars and help you avoid costly mistakes or IRS audits.
Here are some frequently asked questions — and honest answers — to help you decide if hiring an accountant is right for you.
I Only Have a W-2 and Some Deductions. Should I Still Hire an Accountant?
If you’re thinking about itemizing deductions like charitable donations or unreimbursed work expenses, you should know the rules changed a few years ago. Since 2018, many miscellaneous deductions (like gas mileage for work) are no longer allowed.
And while charitable donations are still deductible, most filers now take the standard deduction, which for individuals in 2025 is $15,000 ($30,000 for married couples filing jointly).
In this case, a CPA might advise you to file on your own, and that’s okay. A trustworthy accountant will tell you when it’s worth paying for help and when it’s not.
How Can an Accountant Keep Me on the Right Side of the Law?
The tax code is full of fine print. At Robert P. Russo CPA, PC, we constantly research new regulations so our clients don’t face penalties or worse.
Tax planning goes beyond saving money — it helps you stay compliant. This helps give you clarity and confidence that you are not running afoul of the law and the capacity to have more cash flow for your business from the tax savings. If you’re unaware of specific rules (especially as a business owner or freelancer), you could end up with IRS fines or state labor violations. We’ve seen it happen.
Do Only Business Owners Need Accountants?
Not at all. Even employees may benefit from hiring an accountant.
One of our clients works for a private tech company and received a large stock option package. She technically just has a W-2, but how she handles those stock options could impact her taxes by tens of thousands of dollars.
Others who should consider working with an accountant include:
- Employees with stock compensation
- People who inherit money or property
- U.S. citizens living or working abroad
My Business Is Simple — Do I Really Need a CPA?
If you’re self-employed or run a small business, tax laws still apply — and they can be complex.
A business owner in NYC came to us after a contractor filed for unemployment. He assumed he didn’t need workers’ comp for 1099 contractors, but New York disagreed. He ended up owing over $40,000 in penalties.
Hiring a CPA early on can help you avoid expensive missteps like that.
Will Taking the Home Office Deduction Trigger an Audit?
This is a common myth. The home office deduction is perfectly legal and won’t trigger an audit on its own. What can raise red flags is claiming it incorrectly.
A qualified accountant will ensure it’s reported properly, helping you save money and avoid IRS scrutiny.
I’ve Done My Own Taxes for Years. Why Hire an Accountant Now?
Filing taxes isn’t just about entering numbers. It’s about understanding which numbers matter — and how to legally reduce them.
For example, the Qualified Business Income (QBI) deduction introduced under recent tax law allows eligible businesses to deduct up to 20% of their income. But the deduction phases out above certain income thresholds. If you miscalculate, you could miss out on major savings — or accidentally take a deduction you weren’t eligible for.
A CPA can guide you through this and more, ensuring your tax strategy is aligned with current laws and your financial goals.
Is It Too Late to Fix Things If I Didn’t Hire an Accountant?
Not necessarily. Even after the year ends, a CPA may be able to help reduce your taxable income through things like SEP IRA contributions or other last-minute strategies.
That said, hiring an accountant before the year ends is your best bet to maximize deductions and reduce stress.
Final Thought: Should You Hire an Accountant?
If your taxes are straightforward, software might be enough. But if you:
- Own a business
- Have significant investments or stock options
- Work abroad
- Expect a large refund or tax bill
- Want peace of mind
…then working with a qualified accountant is likely worth it.
At Robert P. Russo, CPA, PC, we offer complimentary consultations to help you make an informed decision. Contact us today if you’re wondering whether hiring an accountant is right for you.