Tax season stress? Most Americans outsource it before hitting 30

By age 29, you deserve a literal tax break — a new survey has found that the average American lets professionals prepare their taxes before they hit their thirties.

The poll of 2,000 U.S. taxpayers found that at a certain stage of life, more than a third (37%) are happy to just let professionals handle their taxes for them.

And it could be because handling your finances can simply get too complicated the more you age.

Commissioned by TaxSlayer Pro (https://www.taxslayerpro.com) and conducted by Talker Research, the study found respondents turn to professional tax preparers because they’ve either started investing their money (23%) or no longer have the bandwidth to handle their own taxes (22%).

Many said they also opt for professional tax preparers when they experience major life milestones — the top two of which included getting married (21%) and buying a home (15%).

Sixty-nine percent said they’re motivated by going to someone more knowledgeable about taxes than they are themselves, with 41% hoping a professional can get them a bigger chunk of cash come refund time.

96% of people who go straight to the pros said it helps them feel more confident about filing their taxes.

Meanwhile, 63% of taxpayers said they still take matters into their own hands and file their taxes themselves.

Sixty-one percent said they prepare their own taxes in order to save money. Others said they handle their own taxes because they can easily understand it (41%), have always done it themselves out of habit (39%) or that their tax situation is simple (32%).

However, more than half of them (53%) said they’d likely consider using a professional within the next two years — especially if their tax situation were to become more complicated (55%), if there were tax law changes that affect them (27%) or if they could no longer manage their own finances (25%).

“For many Americans, big life milestones like getting married or buying a home can make filing taxes start to feel overwhelming,” said Richard Marshall, Director of Sales at TaxSlayer Pro. “That’s when professional preparers can make a real difference, by simplifying the process and giving people confidence they’re getting the best possible outcome.

“Another motivator for people — especially this year — is when tax laws change (https://www.taxslayerpro.com). Knowing what those changes are and how they affect taxpayers is critical, and it’s something many professional preparers can help with.”

The survey also revealed working and self-employed Americans face their own particular tax challenges. Of those polled, 63% work either full-time or part-time, while an additional 8% own their own business.

More than a quarter of employed Americans (26%) said they have multiple sources of income, which can result in a more complicated tax process.

And nearly half of those who are self-employed (48%) said they’ve consulted with tax preparers about what they should do or how they should manage their business’s taxes.

They reported learning things such as what counts as tax-deductible, what forms need to be filed, how to apply for loans and how to keep business and personal finances separate.

One particular respondent shared their experience: “They taught me how to keep information better, how to log my expenditures more accurately, to make tax preparation easier.”

“For the self-employed or those managing multiple income streams, tax season can be especially complicated,” continued Marshall. “Ultimately, professional tax preparers are well-equipped to remove the stress, identify opportunities to strategize, and help clients avoid costly mistakes so they can focus on what matters most.”