I Asked ChatGPT When You Actually Need a CPA To File Your Taxes — Here’s What It Said
The clock ticks down to tax day — typically April 15 — and you’re scrambling to get in gear. As you gather your documents, you’re wondering how to find a CPA to help you — or whether you even need one. Sure, you could try doing it yourself with tax software. But your taxes are important. Shouldn’t you consider going to a professional?
I’m thinking about how I’ll do my taxes this year, too, so that question — to use a CPA or not to use a CPA — is top of mind for me as well. To clear up the confusion, I turned to ChatGPT with a simple question: When do you actually need help from a CPA to file your taxes?
“Totally fair question,” the AI wrote. “Most people don’t need a CPA every year, but when you do need one, it really matters.”
Here’s When You Don’t Need a CPA
Before launching into its explanation of when I’d need help from a certified public accountant, the AI offered a little catchphrase.
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“Think of it like this: simple life = DIY is fine; complicated money = call in a pro,” it wrote.
OK, I probably wouldn’t slap that slogan on a bumper sticker, but it does give me a general sense of when I don’t need to call a CPA. ChatGPT went on to list a few examples:
You have one job with a W-2
You take the standard deduction
You have basic interest or dividends (like a savings account)
No major life changes (marriage, kids, buying or selling property)
You’re comfortable using TurboTax, Free File or similar software
“In these cases, tax software is basically doing the CPA work for you — just cheaper,” it wrote.
Here’s When You Do Need a CPA
Without further ado, ChatGPT offered a few scenarios in which you should absolutely consider consulting a CPA.
1. You’re Self-Employed or Own a Business
According to the AI, this is the “number one reason people need CPAs.” If you’re self-employed, own a business or freelance while working a regular gig, you should strongly consider investing in a CPA. A CPA can help you juggle multiple 1099s, identify appropriate business deductions and avoid overpaying — or triggering audit flags.
2. You Have Complex Investments or Assets
If you own rental properties or have recently sold a home — especially if it’s not your primary residence — ChatGPT says you’ll want to consult a CPA. Other complex investments or assets, such as stock options like incentive stock options, restricted stock units or employee stock purchase plans, also often require professional expertise.
I was a fan of how ChatGPT described another category of assets that warrant a CPA at tax time: “crypto activity beyond ‘I bought $200 of Bitcoin once.’”
3. You’ve Gone Through Major Life Changes
A lot can change in a year — for good or for ill — and sometimes tax software just can’t capture all that complexity. If you’ve gone through any of these life changes, you may want to visit a CPA instead of going it alone:
Got married or divorced
Had a child
Moved states
Inherited money or property
Received a large settlement or severance
These events can alter your tax situation in ways that only a trained professional can navigate.
4. You’ve Got International or Multistate Issues
Have you been a world traveler? Hopped around different states? You’ll want to talk to a CPA if you’ve lived or worked in more than one state. A CPA should also review your return if you have foreign income or bank accounts. Expats — or returning expats — should definitely make their way to a CPA’s office.
“Mistakes here can get expensive fast,” the AI warned.
5. You’re Already in Tax Trouble
Sometimes you’re not as on top of things as you’d like to be — including your taxes. Maybe you owe back taxes or received a scary letter from the IRS. What do you do? Let a CPA handle it, especially if any of the following apply:
You owe back taxes
You received an IRS letter
You missed filings in previous years
You’re worried you filed incorrectly in the past
“A CPA is part accountant, part damage control,” ChatGPT wrote.
The Bottom Line
There are clear situations in which you’re better off hiring a CPA to help make sense of your taxes. But ChatGPT also noted that, in some cases, a CPA can be worth the expense for peace of mind alone. A CPA may spot deductions you didn’t know existed and offer advice on how to pay less in taxes next year.
Now that’s good advice.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal, or tax advice.
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