Should you do your own taxes?

Some people can do it themselves, others need professional help. And with SARS’s continuing amendments, you should probably do the latter.

The issue isn’t what you know, but rather what you don't know. If you have a simple return to submit, you can use e-filing, but what you need to remember is that tax accountants don’t just fill boxes with numbers. Anyone can do that.

You will have to ask yourself these questions.

1. Will you be able to sit down and spend time to doing your tax?
2. Are you willing to spend money employing the advice of a tax accountant?
3. Will you be able to work through all the documentation to submit your tax? Especially when factors like investments, dividends, company allowances and fringe benefits among others come into play.

Understand Why You Need a Tax Accountant

You should take some time to focus on exactly what you need your tax accountant to do. Here are some common situations:

• Preparing your own taxes is time-consuming, stressful, or confusing.
• You want to make sure your tax returns are accurate and correct.
• Your tax situation has become complex, and you need specialist advice.
• You would like to pay as little taxes as possible, and need detailed planning and advice.
• You are facing a tax problem, paying off a tax debt, or being audited by SARS.
• You run a business, investments, own rental property, or live outside South Africa.
Finding Tax Accountants

You should find an experienced tax accountant who specialises in the areas you need help with.

You can find a list of accountants that specialise in tax on the FinSolve website.

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