Income tax preparation can be a real irritating. And to make matters worse, you have to do it every year, no matter what. There are two main ways of handling income tax preparations. You can either do it yourself, or have someone else do it for you. There are caveats to each method. While some people would be fine with doing it themselves, others would have a tough time with it. It all depends on a number of factors. For instance, if you own your own company, especially if you are self employed, then you will have a very complicated tax return. Then again, you may just have one job and no assets. In this respect, income tax preparation can be really easy. How you handle the task depends on a number of factors.