Flowchart: Should you prepare your own taxes?

Who should do your taxes? You (with a little help from tax software) or a professional?

It’s a question worth asking annually, because our financial situations change over time.

Below, find a flow chart to help you make your decision. For more information on your options, check out “Here’s how to figure out whether you should do your own taxes.”

Bear in mind that these questions represent guidelines, not set-in-stone rules. If you find that you have extremely simple taxes but want the peace of mind that comes with a professional’s help, or have extremely complicated taxes but feel comfortable tackling them yourself, then it’s up to you to file the way you think is best.

As long as it gets done by April 15, you’re doing something right.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.