2020 W2s are out. So - should you do your own taxes, or give them to a professional? My Tax Guy in Houston's Doug Hord outlines who should be able to complete their own return. "This is a person who has a W2 or two, may have some children, and like most people can't itemize any more because the deductions are too high - those people should be fine to do their own returns."
And here's who Hord says should see a pro. "People who trade virtual currency like bitcoin, people who have depreciation on business transactions, people who are self employed, people who have taken a 401(k) early withdrawal, people who have bought or sold a house or have had other major life changes [marriage, divorce, baby, bought a business, became self employed etc.] --- those people should get professional help."
Hord has some reminders for you. "You have to account to whether or not you have received both of the Stimulus Checks. And - they have included a $300 charitable donation deduction even if you don't itemize." But - Hord says if you are self-employed, have unemployment income or retirement distributions, paid child care expenses or made a major life change like buying or selling a house...then visit a professional who could save you hundreds of dollars.