So, are you thinking you'd like to see your tax preparer disappear, or do you wish you "had people?"

In case you hadn't noticed, the W2s have landed, along with a blizzard of new commercials —including campaigns by TurboTax and H&R Block — which might make you think twice about the way you do your taxes, and whether you should do them yourself.

If you routinely hire professionals to do your government paperwork, you might be wondering whether they're really earning their fees. But if you've got audit anxiety, the notion of firing your accountant can make you squirm.

Throwing money at this problem isn't a good solution, says Eric Tyson, personal finance guru and co-author of "Taxes 2007 for Dummies." Loathsome as it may sound, learning about the tax system can save you money, whether you plan to file for yourself, buy fancy software or pony up for a high-priced adviser. Just think carefully about your approach and why you're using it.

STARTING POINTS:

1) Yes, you can do it yourself: If you think you're wasting money by going to a tax professional year after year, you're probably right.

"The unfortunate reality is, tax preparers are incredibly busy this time of year and typically don't spend enough time sitting down with clients, asking them questions and helping them minimize their taxes," Tyson said. "The best ones do, but many don't."

Furthermore, a person whose situation isn't complicated and hasn't changed is "essentially paying someone a fair amount of money to plug numbers into a form," Tyson said.

So get a book, try some software, and give it a whirl!

2) Know when you need help: See a professional if you've gone through a big change and you aren't sure how to handle it. For example, if after years of earning a steady paycheck you've started your own business, get an accountant to walk you through your first Schedule C — the part of Form 1040 where self-employment income is reported. A smart financial adviser can also help you set up an appropriate tax-deferred retirement plan, such as a Keough or a SEP IRA.

"That doesn't mean you need help for the next 10 years, but maybe for that transition year it would be good," Tyson said. "It is intimidating the first time you do it yourself, but it's not rocket science."

3) Get smart: The more you understand the system, the better you can identify which deductions you're owed. This will pay off even if you hire an accountant, because the fees they charge are directly related to the amount of time they have to spend on you. So be familiar with your own taxes and arrive prepared.

Despite what the financial media and some in the tax prep industry would have you believe, the laws don't actually change that much year to year, Tyson says. Once you've got the basics figured out, you're good to go.

4) Ninety-nine percent of you won't be audited: A fear of being audited is not a good reason to hire a tax preparer. First of all, they may or may not be qualified to represent you before the IRS. And in the unlikely event you are audited — about 1 percent of individual taxpayers are — you can hire someone to represent you then. Preparation and audit support are separate issues.

Who gets audited? One of the biggest drivers is income. The fatter your paycheck, the more likely you are to be audited, simply because if the IRS decides to go after you, they want it to be worth their time. If you rake in more than $100,000 a year, you have about a 1 in 20 chance of being audited, Tyson said, while the risk drops to about 1 in 100 for those who make $50,000 or less.

5) Go ahead, procrastinate: If you need more time to get smart about the tax system, get an extension. What the government really wants by April 15 is your tax bill, not your forms, Tyson said. So pay your anticipated minimum tax (otherwise you'll be hit with interest and penalties) and file for a six-month extension. If you know for sure you're owed a refund, you have nothing to worry about — Uncle Sam is delighted to hang onto your money for a few more months. Think this makes you a slacker? Guess again: The guy who wrote the book does it all the time.

"I really don't enjoy doing my tax return. In fact, I hate it," Tyson confessed. "Even if you like math, and I kind of like math, doing your taxes is really tedious. In the spring, when the weather is getting better, I'd rather be outside! So file for the six-month extension, that takes you through October, and wait for some crummy, rainy day."

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asap columnist Meg Richards is an AP business writer based in Washington DC. "Your Two Cents" is returning after a brief hiatus.

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