Life Kit
Your 2025 tax questions, answered
Feb 25, 2025
Hana Boruchov, a seasoned tax attorney at Borakov Gabovich & Associates PC, shares her insights on navigating the 2025 tax season. She discusses the pros and cons of hiring an accountant versus DIY tax software. Hana offers invaluable tips for freelancers about W-2 and 1099 reporting, while also addressing the complexities of state taxes for remote workers. Listeners learn about handling tax debt and the importance of professional assistance, ensuring they are well-equipped to tackle their tax obligations with confidence.
17:52
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Quick takeaways
- Deciding whether to hire an accountant or use tax software hinges on the complexity of one's financial situation and tax needs.
- Remote workers must be aware of the tax obligations arising from their state residency and employer's location to avoid double taxation.
Deep dives
Understanding When to Hire a Tax Professional
Determining whether to hire an accountant or use online tax software depends largely on individual circumstances. For those with straightforward tax situations, such as receiving only a W-2, using software can be efficient and cost-effective. However, if an individual has freelance income or complexities in their financial situation, consulting with a tax professional may provide necessary guidance and ensure accuracy. This approach not only means potential savings but also helps avoid pitfalls associated with more complex tax scenarios.
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