You are here: Home Finances Accountants Do I Need An ... Summary
Information For Living With: Choose condition »
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Summary

Whether you need an accountant depends on several factors. The discussion is divided into two. :

To Learn More

More Information

Accountants

If You Are An Individual

Whether you think you need an accountant or not, consider at least having an initial visit or telephone discussion with one. Discuss your medical expenses to make sure you are maximizing your deductions and minimizing your taxes as much as possible. Also mention any other aspects of your financial life that are not cut and dry. 

Need for an accountant

You may need an accountant if:

  • Your tax situation is complicated.
  • You have real estate investments.
  • You have enough assets so that income tax planning would be worthwhile.
  • You start your own business.

Alternatives To Using An Accountant 

If your personal income taxes are your only accounting concern, you might be able to save money by using:

  • An income tax preparer who is not a certified public accountant.
  • A computer software program, such as:
    • CCH Complete Tax
    • FreeFile offsite link from the IRS -- a free federal tax preparation and electronic filing program for taxpayers with an Adjusted Gross Income (AGI) of $57,000 or less in 2013. 
    • TaxAct
    • TaxCut (from H&R Block)
    • TurboTax

If You Are Self Employed Or Own A Business

An accountant is important for a business, no matter what size -- including people who are self employed without any employees.

An accountant can:

  • Help you keep your books in a manner that minimizes the work necessary to prepare tax and other returns and minimizes difficulty in the event of an audit.
  • Provide outside advice to help you grow your business.
  • Helps assure that your business complies with deadlines and complicated reporting.
  • Advises about financial statements, including lessons to be learned.